Shares in Stamford-based Crane Co. jumped in Tuesday trading the day after the industrial products maker posted a record earnings for 2012 and forecast another record for 2013.
Crane shares were trading up 4.88 percent to $50.96 just after 12:30 p.m. Tuesday. The company announced the night before net income for the fourth quarter $45.6 million, or 79 cents per share, compared to a loss of $125 million,or $2.16 a share, a year ago. For all of 2012, Crane posted EPS of $3.72, a record.
Net sales at the company topped $629 million in the fourth quarter, compared to $619 million a year ago. Executives said this is the second year in a row for record earnings at Crane and with large backlogs in aerospace and other product lines, the company said it expects 2013 to keep that streak alive.