CIRCOR gains on higher Q1 results

CIRCOR International

11/05/2023 14:57

** Shares of industrial machinery manufacturer CIRCOR
International Inc  CIR.N  up 7.8% at $28.98
    ** CIR posts Q1 adj. profit of $0.53/shr vs $0.05/shr a year
earlier
    ** Q1 revenue jumps 9% to $203 mln
    ** "We benefited from the continued recovery in the
commercial aerospace market, strength in our naval defense
programs, industrial aftermarket, and value pricing in both the
foremarket and aftermarket" - President and CEO Tony Najjar
    ** Related to previously announced review of strategic
alternatives, board is in talks with number of parties that have
expressed interest in acquiring all or parts of company - CIR
    ** Including session's gains, CIR stock up 12.1% YTD

 (Reporting by Anandita Mehrotra in Bengaluru)
 ((Anandita.Mehrotra@thomsonreuters.com))