SPX's Fourth Quarter Earnings Grow.(Brief Article)(Statistical Data Included)

SPX Corp. said it had $1.3 billion in revenues for the fourth quarter 2001 and earnings per share of $1.58 or $2.04 before unusual items. Fourth quarter 2001 results included $24.4 million in special charges and unusual gains.

Commenting on the company's fourth quarter results, John B. Blystone, Chairman, President and CEO said, "We continue to meet our commitments and targets in an extremely difficult economic environment. The quality of our reported earnings is clearly reflected in our cash flow performance."

The reported twelve months 2001 earnings per share of $4.67 includes unusual gains and special charges of $1.73 per share. Without the unusual gains and special charges, earnings per share was $6.40, an 8.3 percent improvement over the comparable twelve months 2000 earnings per share of $5.91.

Reported revenues for the fourth quarter grew by 83.9 percent to $1.3 billion compared with fourth quarter 2000 revenues of $710.9 million. Full year revenues grew by 53.6 percent to $4.1 billion compared with full year 2000 revenues of $2.7 billion.

Print Get the Mag Weekly Updates