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Thursday, February 14, 2013

SPX results beats Street, flow technology revenue jumps, (NYSE: GDI)

Diversified U.S. manufacturer SPX Corp reported better-than-expected quarterly results on a 29 percent increase in revenue from its largest flow technology segment.The segment, which makes equipment used in producing liquids ranging from petroleum to dairy products, recorded quarterly revenue of $728.2 million, helped mainly by acquisitions. Total revenue rose 14 percent to $1.44 billion.SPX has been adding and selling businesses to become a flow technology company as demand grows in emerging markets.It tried in December to purchase rival Gardner Denver Inc , which makes compressors, pumps and vacuum products for industrial uses, in a $4.2 billion deal. But talks between the companies ended after doubts emerged on both sides about the deal's success, Reuters reported.

Gardner Denver, Inc. (Gardner Denver) designs, manufactures and markets engineered industrial machinery and related parts and services. Shares of GDI remained unchanged at $68.39. In the past year, the shares have traded as low as $45.54 and as high as $76.57. On average, 1034070 shares of GDI exchange hands on a given day and today's volume is recorded at 0.