Second-quarter revenue, earnings up for SPX
07/30/2014 10:36 AM
07/30/2014 10:38 AM
Second-quarter earnings and revenue rose for Charlotte-based diversified manufacturer SPX Corp.
Revenue for the second quarter increased 1.5 percent to $1.18 billion, up from $1.16 billion in the same quarter last year, the company reported Wednesday.
Net income for the quarter rose to $51.2 million, or $1.17 per diluted share, compared with $45.2 million, or 98 cents per diluted share in the year-ago quarter.
“SPX had a very good first half of 2014,” said Chris Kearney, president and CEO. “Order trends across our short cycle businesses are healthy and we are seeing strong quoting activity for large projects.”
SPX, based in Ballantyne, makes a wide range of equipment, including food and beverage systems, electricity and vehicle services, and power transformers for utility companies. The Fortune 500 company operates globally with more than 14,000 employees.