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Flowserve: 4Q Earnings Snapshot

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IRVING, Texas (AP) _ Flowserve Corp. (FLS) on Tuesday reported fourth-quarter earnings of $56.9 million.

The Irving, Texas-based company said it had net income of 43 cents per share. Earnings, adjusted for non-recurring costs, came to 53 cents per share.

The results fell short of Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 55 cents per share.

The company that makes pumps, valves and other parts for the oil and gas industries posted revenue of $985.3 million in the period, surpassing Street forecasts. Four analysts surveyed by Zacks expected $958.6 million.

For the year, the company reported profit of $116.3 million, or 89 cents per share. Revenue was reported as $3.73 billion.

Flowserve expects full-year earnings in the range of $1.30 to $1.55 per share.

Flowserve shares have risen slightly more than 7% since the beginning of the year, while the Standard & Poor's 500 index has risen slightly more than 3%. In the final minutes of trading on Tuesday, shares hit $39.55, a fall of 9% 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