Flowserve: 4Q Earnings Snapshot

IRVING, Texas (AP) _ Flowserve Corp. (FLS) on Monday reported fourth-quarter net income of $69.8 million.

The Irving, Texas-based company said it had net income of 53 cents per share. Earnings, adjusted for non-recurring costs, came to 66 cents per share.

The results topped Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 65 cents per share.

The company that makes pumps, valves and other parts for the oil and gas industries posted revenue of $1.07 billion in the period, which also topped Street forecasts. Four analysts surveyed by Zacks expected $1.05 billion.

For the year, the company reported profit of $253.7 million, or $1.93 per share. Revenue was reported as $3.94 billion.

Flowserve expects full-year earnings in the range of $2.30 to $2.45 per share.

Flowserve shares have declined nearly 7% since the beginning of the year, while the Standard & Poor's 500 index has increased roughly 5%. The stock has dropped roughly 3% 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