This Week
  • Williamson businesses and residents are signing up to become part of a solar system.

  • RIT, RGH hold opening ceremonies for RIT's Clinical Health Sciences Center.

  • Thomas Bonadio has grown the Bonadio Group into the nation's 40th largest CPA firm.

  • Steve General Contractor was founded in 1973 by a Jamaican immigrant.

  • Tim Dougherty found satisfaction in creating a nutritional lifestyle.

  • The 2015 edition features an exclusive interview with Paychex CEO Martin Mucci.

Garlock sees rise in sales, profit in Q1

Rochester Business Journal
May 6, 2011

Garlock Sealing Technologies LLC reported double-digit increases in first-quarter sales and profit Friday.

The Palmyra Wayne County-based firm reported adjusted net income of $6.9 million, up 77 percent from adjusted net income of $3.9 million for the same period last year.

Measures of Garlock’s profitability, including adjusted net income, do not reflect legal expenses of roughly $4.3 million incurred in the first quarter of 2011 due to an asbestos claims resolution process and asbestos-related expenses for the first quarter of 2010, the company said.

Third party sales grew 18 percent to $52.4 million, up from $44.4 million a year ago.

The company said the increase in sales was due to higher demand for its product, particularly from the steel industry, plus a strong maintenance and turn-around season in the United States petrochemical industry.

Garlock is part of North Carolina-based EnPro Industries LLC.

Last year, Garlock filed a voluntary petition to establish a trust to resolve all current and future asbestos claims under the U.S. Bankruptcy Code. Because of this, Garlock’s financial results are not included in EnPro’s consolidated results of operations under the pendency of the asbestos claims resolution process, the company said.

(c) 2011 Rochester Business Journal. To obtain permission to reprint this article, call 585-546-8303 or e-mail

What You're Saying 

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

Post Your Own Comment


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