Colfax shows 4Q loss due to recent acquisitions

Posted: 4:22 pm Tue, February 7, 2012
By Associated Press

Colfax Corp., of Fulton, a manufacturer of industrial pumps and valves, reported a fourth-quarter net loss of $16.1 million, or 37 cents a share, compared with net income of $8.7 million, or 20 cents a share, in the prior-year period.

Excluding one-time charges, earnings would have totaled 40 cents per share, below analysts’ forecasts of 45 cents per share. Revenue rose to $177.8 million from $166.6 million in the 2010 quarter, missing analysts’ estimates of $190 million.

Colfax recently purchased Charter International PLC, a manufacturer of welding equipment, for $2.4 billion, and is in the process of buying Canton, Ohio-based Cot-Puritech Inc., a provider of lubrication services, for about $34 million.