Colfax beat the street once again!
Colfax (NYSE:CFX) the global fluid handling company today released its Q3 2011 earnings and managed to beat analysts expectations once again:
Q3 EPS came in at $ 0.37 on an adjusted basis, 71.6% better than Q3 last year and revenue was $ 170.3 mil, 28.6% higher than same quarter last year.
Order backlog was $ 373.4 mil. The 10Q report is already published on their website.
Colfax Group will entirely modify its structure in the near future because of the acquistion of Charter International plc!
This is their biggest step in the still rather young history as a public company.
As President and CEO Kiefhaber explains, this acquisition will lead to revenues approximately evenly distributed between fore- and aftermarket, emerging and developed economies, and short- and long-cycle businesses.
And furthermore they begin to realize the cost savings from their strategic priority projects in FY 2012!
No wonder that the stock market liked these results and pushed the stock about 10% higher today!