Pentair plc (NYSE: PNR), Manchester, UK, reported sales for 2016 of $4.9 billion, up 5.9 percent year-over-year. Profit was $522.2 million, compared to a loss of $76.4 million a year ago.
Fourth quarter sales were $1.2 billion, down 7.8 percent year-over-year. Profit was $131 million, compared to a loss of $453.3 million a year ago.
Flow & filtration solutions fourth quarter sales were $314 million, down 11.3 percent versus the prior year quarter, while water quality systems sales were up 1.7 percent to $371 million.
Technical solutions fourth quarter sales were $507.7 million, down 11.6 percent compared to the prior year quarter.
Pentair previously announced that it entered into an agreement to sell its valves & controls business to Emerson Electric Co. for $3.2 billion, which they expect to complete by the end of the first quarter. Therefore, the results of the valves & controls business have been presented as discontinued operations for all periods presented.
