Crane Co. Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2014; Provides Earnings Guidance for the Year 2015
January 26, 2015 at 05:05 pm EST
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Crane Co. reported earnings results for the fourth quarter and full year ended December 31, 2014. For the quarter, the company reported total net sales of $730,658,000 compared to $681,449,000 a year ago. Total operating profit was $89,591,000 compared to $83,121,000 a year ago. Income before income taxes was $83,826,000 compared to $80,594,000 a year ago. Net income attributable to common shareholders was $56,212,000 or $0.95 per diluted share compared to $49,706,000 or $0.84 per diluted share a year ago. Total cash provided by operating activities was $150,518,000 compared to $148,433,000 a year ago. Capital expenditures were $11,580,000 compared to $10,445,000 a year ago. Free cash flow was $138,938,000 compared to $137,988,000 a year ago.
For the year, the company reported total net sales of $2,924,997,000 compared to $2,595,281,000 a year ago. Total operating profit was $316,290,000 compared to $347,876,000 a year ago. Income before income taxes was $281,156,000 compared to $326,016,000 a year ago. Net income attributable to common shareholders was $192,672,000 or $3.23 per diluted share compared to $219,502,000 or $3.73 per diluted share a year ago. Total cash provided by operating activities was $263,952,000 compared to $239,432,000 a year ago. Capital expenditures were $43,732,000 compared to $29,461,000 a year ago. Free cash flow was $220,220,000 compared to $209,971,000 a year ago.
The company provided earnings guidance for the year 2015. For the year 2015, the company expects earnings per share - GAAP basis of $4.32 to $4.52 and earnings per share - non-GAAP basis of $4.45 to $4.65. Free cash flow expects to be $210,000,000 to $240,000,000. Sales for 2015 are expected to be approximately $2.85 billion.
Crane NXT, Co. is an industrial technology company that provides technology solutions to secure, detect, and authenticate what matters most to its customers. The Company operates through two segments: Crane Payment Innovations (CPI) and Security and Authentication Technologies. The CPI segment provides electronic equipment and associated software leveraging extensive and proprietary core capabilities with various detection and sensing technologies for applications, including verification and authentication of payment transactions. The Security and Authentication Technologies segment provides advanced security solutions based on proprietary technology for securing physical products, including banknotes, consumer goods and industrial products. The Security and Authentication Technologies segment also provides brand protection and authentication solutions. The Company operates in the United States, the United Kingdom, Mexico, Japan, Germany, Sweden, and Malta.
CRANE NXT, CO. 
