In the payment and technologies merchandising segment, which included cash handling technology for casinos, sales rose 73.6% to US$327.4 million, compared to US$188.6 million in third-quarter 2017. Group-wide quarterly sales were a record US$855.8 million, an increase of 23.0% compared to US$695.9 million in the third quarter of 2017.
In July Crane had declared a regular quarterly dividend of US$0.35 per share for the third quarter. The dividend was payable on September 10, to shareholders of record as of the close of business on August 31.
Last Monday the group declared a fourth-quarter dividend of US$0.35 per share, payable on December 10 to shareholders of record as of the close of business on November 30.
Crane Co also revised higher its guidance for earnings per share for full-year 2018. The firm now expects earnings – excluding special items – to range between US$5.80 to US$5.90 per share, compared to the prior range of US$5.60 to US$5.80 per share.
Full-year 2018 free cash flow is now expected to be in a range of US$260 million to US$290 million, compared to the prior forecast of between US$250 million and US$280 million, according to the firm’s latest report.
Source: GMB / GGR Asia
