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Market: NYSE
Sector: Manufacturing
EPIC: CFX
Latest Price: 28.44  (0.92% Ascending)
52-week High: 36.15
52-week Low: 19.07
Market Cap: 2,667.64M
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Colfax Corp
www.colfaxcorp.com

Colfax Corporation is a global supplier of a range of fluid handling products, including pumps, fluid handling systems and controls and specialty valves.

Full Colfax Corp profile here
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Colfax Q4 earnings miss Street view on acquisition costs

7th Feb 2012, 2:01 pm by Joyanta Acharjee
Colfax Q4 earnings miss Street view on acquisition costs

Pumps and fluid-related equipment maker Colfax Corp (NYSE:CFX) said Tuesday that fourth-quarter earnings were hit by acquisition-related expenses as it posted its first loss after six consecutive quarters of profit.

For the quarter that ended December 31, the company reported a net loss of $16.1 million, or 37 cents a share, compared with a net income of $8.7 million, or 20 cents a share, a year ago.

Excluding items, Colfax posted a fourth-quarter net loss of 40 cents per share. Sales rose seven percent to $177.8 million.
Analysts expected the company to earn 45 cents per share, excluding items, on sales of 189.7 million, according to Thomson Reuters.

Colfax president and chief executive officer, Clay Kiefaber, said: "We are pleased to announce strong results for full year 2011 and a solid fourth quarter. Sales growth for the quarter was in line with our internal expectations and driven primarily by our power generation, oil and gas and general industrial end markets.

"Order growth for the quarter was also in line with our internal expectations and was positive on an organic basis in all end markets except general industrial."

Colfax has been growing its business through acquisitions. In January 2012, it bought the UK's welding-equipment maker Charter International for $2.4 billion last month and agreed in December to pay roughly $34 million to acquire privately held Cot-Puritech.

The company said it expects to save more than $100 million from the recent additions in its businesses.
Gross margin fell to 34.6 percent from 35.7 percent a year earlier.

Orders increased 15 percent to $153.4 million. Backlog was $347.2 million, down from $373.4 million at the end of the prior quarter.

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