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Article: SPX Reports First Quarter 2003 Results; 1Q Free Cash Flow 108% of Income From Continuing Operations, Revenues Up 4.5%, EPS From Continuing Operations $0.50.
- Article from:
- PR Newswire
- Article date:
- April 22, 2003
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SPX Corporation today announced first quarter 2003 financial results of $1.12 billion in revenues, diluted earnings per share before discontinued operations of $0.50, and free cash flow of $42.7 million.
Commenting on the company's results, John B. Blystone, Chairman, President and CEO said, "As we expected, SPX had a very difficult quarter driven by the negative impact of the power market, an extremely challenging marketplace and worldwide economic uncertainties. For the quarter we generated free cash flow equal to 108% of income from continuing operations, while earnings per share from continuing operations before change in accounting principle were $0.50 ...