Crane 4Q Profit Rises 20 Percent

Net income for the three months through December rose to $45.2 million, or 74 cents per share, compared with $38 million, or 61 cents per share, during the same period a year earlier.

Excluding special items, the company said it earned $47.3 million, or 77 cents per share, compared with $38 million, or 61 cents per share, a year earlier.

Analysts predicted earnings of 69 cents per share, on average, according to Thomson Financial. Those forecasts typically exclude one-time items.

Revenue rose to $666 million, from $581.7 million a year ago. That beats analysts' forecast of $659 million, according to Thomson.

Crane said sales in its merchandising systems and fluid handling businesses grew 17 percent and 18 percent, respectively. The company said it also benefited from a lower tax rate.

For the full year, Crane swung to a loss of $62.3 million, or $1.04 per share, from a gain of $165.9 million, or $2.67 per share, in 2006. Full-year revenue rose to $2.62 billion from $2.26 billion previously.

Crane shares fell 20 cents to $36.26 in after-hours trading. The stock rose 11 cents to $36.46 during the regular session.