Crane Co. (NYSE: CR), Stamford, CT, reported full-year sales of $2.9 billion for 2014, an increase of 12.7 percent from 2013. Profit was $316.3 million, a decrease of 9.1 percent compared to last year.
Sales for the fourth quarter were $730.7 million, an increase of 7.2 percent from the same period a year ago, with flat core sales. Profit increased 7.8 percent year-over-year to $89.6 million.
"Global growth was a challenge for us throughout the year, and we expect the difficult revenue environment to persist into 2015, driven by a decline in our process valve business in fluid handling," said Max Mitchell, Crane Co. president and CEO.
