This Week
  • Heritage Packaging in Victor has a reputation for solving problems for customers.

  • Medical intervention is critical for patients suffering from congestive heart failure.

  • Sydor Instruments has acquired a company that will double the Chili firm's sales.

  • Christopher Liucci, G&W's top local executive, thrives on challenge.

  • Anne Gabel, 27, owns MJ Gabel Diamond and Jewelry Buyers.

  • The world's best women golfers will pay a final visit to Rochester.

Q4 adjusted net income rises, sales dip at Garlock

Rochester Business Journal
February 7, 2014

Garlock Sealing Technologies LLC reported an increase in fourth-quarter adjusted net income, but a drop in sales.

The Palmyra, Wayne County, firm posted adjusted net income of $8.7 million, up 32 percent from $6.6 million a year ago. Asbestos-related expenses totaled $6.9 million, down $2 million from the fourth quarter 2012. Lower manufacturing costs and a more profitable profit mix increased operating profits, the company said.

Sales were down 5 percent to $50.4 million, from $52.9 million. The sales reflected declines in activity in Japanese and Australian markets, the company said.

For the year, Garlock reported adjusted net income of $37.8 million, up 19 percent from $31.8 million in 2012. The increase reflects expenses associated with an asbestos liability trial completed last August.

Sales were $218.3 million, down 1 percent from $220 million in 2012.

Garlock is a deconsolidated operation of North Carolina-based EnPro Industries Inc.

In January, the judge in the asbestos trial issued an opinion estimating the firm’s liability for mesothelioma claims at $125 million, an amount consistent with the estimate Garlock presented at the trial.

(c) 2014 Rochester Business Journal. To obtain permission to reprint this article, call 585-546-8303 or e-mail service@rbj.net.
 






What You're Saying 

There are no comments yet. Be the first to add yours!

Post Your Own Comment

 
Username:
Password:

Not registered? Sign up now!
 

To Do   Text Size
Post CommentPost A Comment eMail Size1
View CommentsView All Comments PrintPrint Size2
ReprintsReprints Size3
  • E-mailed
  • Commented
  • Viewed
RBJ   Google