Flowserve: 4Q Earnings Snapshot

IRVING, Texas (AP) _ Flowserve Corp. (FLS) on Wednesday reported fourth-quarter net income of $63.1 million, after reporting a loss in the same period a year earlier.

The Irving, Texas-based company said it had net income of 48 cents per share. Earnings, adjusted for non-recurring costs, were 58 cents per share.

The results met Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was also for earnings of 58 cents per share.

The company that makes pumps, valves and other parts for the oil and gas industries posted revenue of $986.9 million in the period, which missed Street forecasts. Seven analysts surveyed by Zacks expected $1.07 billion.

For the year, the company reported profit of $119.7 million, or 91 cents per share. Revenue was reported as $3.83 billion.

Flowserve expects full-year earnings in the range of $1.95 to $2.15 per share.

Flowserve shares have climbed 26 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed 11 percent. In the final minutes of trading on Wednesday, shares hit $47.78, an increase of slightly more than 9 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on FLS at https://www.zacks.com/ap/FLS