Company expects revenue of $167 million to $170 million and adjusted
earnings per share of $0.48 to $0.51
BURLINGTON, Mass.--(BUSINESS WIRE)--Feb. 22, 2018--
CIRCOR
International, Inc. (NYSE: CIR) today updated its Q4 2017 adjusted
EPS and revenue guidance ahead of its presentation at Gabelli &
Company’s Pump, Valve & Water Systems Symposium. CIRCOR originally
provided fourth-quarter guidance during its third-quarter 2017 earnings
call on October 27.
The Company now forecasts Q4 2017 revenue in the range of $167 million
to $170 million (compared with a previous range of $155 million to $175
million) and adjusted earnings per share of $0.48 to $0.51 (compared
with a prior range of $0.35 to $0.55 per share). This updated guidance
and the prior guidance ranges for revenue and adjusted earnings per
share exclude any transaction and financing costs related to CIRCOR’s
acquisition of the Fluid Handling business from Colfax Corporation, and
also exclude the results of operations from the acquisition for the
period December 11, 2017 to December 31, 2017. The transaction was
closed on December 11, 2017. Adjusted EPS excludes any restructuring and
special charges.
Gabelli Symposium Webcast
CIRCOR
President and Chief Executive Officer Scott
Buckhout will participate in an analyst-hosted discussion at the
Gabelli Symposium. The discussion and presentation will be webcast live
at 8:30 a.m. ET today. A link to the webcast can be found on the “Webcasts
& Presentations” section of the Company’s investor relations
website at http://investors.circor.com.
An archive of the event will be available for approximately 90 days.
CIRCOR plans to announce its fourth-quarter and full-year 2017 results
on Wednesday, February 28, 2018.
Safe Harbor Statement
This press release contains
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the Securities
Exchange Act of 1934, as amended. Reliance should not be placed on
forward-looking statements because they involve unknown risks,
uncertainties and other factors, which are, in some cases, beyond the
control of CIRCOR. Any statements in this press release that are not
statements of historical fact are forward-looking statements, including,
but not limited to, those relating to CIRCOR’s revenue and adjusted EPS
expectations for the fourth quarter of 2017 and the Fluid Handling
acquisition. Actual events, performance or results could differ
materially from the anticipated events, performance or results expressed
or implied by such forward-looking statements. BEFORE MAKING ANY
INVESTMENT DECISIONS REGARDING OUR COMPANY, WE STRONGLY ADVISE YOU TO
READ THE SECTION ENTITLED "RISK FACTORS" IN OUR MOST RECENT ANNUAL
REPORT ON FORM 10-K AND SUBSEQUENT REPORTS ON FORMS 10-Q, WHICH CAN BE
ACCESSED UNDER THE "INVESTORS" LINK OF OUR WEBSITE AT WWW.CIRCOR.COM.
We undertake no obligation to publicly update or revise any
forward-looking statement, whether as a result of new information,
future events or otherwise.
About CIRCOR International, Inc.
CIRCOR
International, Inc. designs, manufactures and markets differentiated
technology flow control products and sub-systems for markets including
oil & gas, industrial, aerospace & defense and commercial marine. CIRCOR
has a diversified flow and motion control product portfolio with
recognized, market-leading brands that fulfill its customers’ mission
critical needs. The Company’s strategy is to grow organically and
through complementary acquisitions; simplify CIRCOR’s operations;
achieve world class operational excellence; and attract and retain top
talent. For more information, visit the Company’s investor relations
website at http://investors.circor.com.
View source version on businesswire.com: http://www.businesswire.com/news/home/20180222005705/en/
Source: CIRCOR International, Inc.
CIRCOR International, Inc.
Rajeev Bhalla, 781-270-1210
Executive
Vice President and Chief Financial Officer
