Flowserve Corp (FLS)

[benfrankledger]

$FLS Fourth Quarter 2016 Highlights

Reported Earnings Per Share (EPS) of $0.50 includes $0.22 per share of adjusted items, as detailed below, and approximately $0.03 per share of negative currency translation
Adjusted EPS[1] was $0.72 excluding the adjusted items but including the negative currency translation
Adjusted items include $0.20 per share of realignment expenses and $0.02 of purchase price accounting expenses and Brazil inventory write-down
Sales were $1.07 billion, down 14.7% on a constant currency basis
Aftermarket sales were $502 million in the fourth quarter, down 8.7% on a constant currency basis
Total bookings were $908 million, down 4.2% on a constant currency basis
Aftermarket bookings were $446 million, or 49% of total bookings, flat with prior year on a constant currency basis
Reported gross and operating margins of 31.0% and 10.0% increased 10 basis points and decreased 60 basis points, respectively
Adjusted gross and operating margins[2] were 33.2% and 13.2% declined 20 basis points and 130 basis points, respectively