CIRCOR International, Inc. announced unaudited consolidated earnings results for the first quarter ended March 31, 2013. For the quarter, net revenues were $205,398,000 against $214,280,000 for the same period a year ago, a 4% decrease from $214.3 million in the first quarter of 2012, due primarily to lower energy shipments as a result of lower North American rig counts. Operating income was $12,900,000 against $13,700,000 for the same period a year ago. Income before income taxes was $11,501,000 against $12,481,000 for the same period a year ago. Net income $7,908,000 against $8,585,000 for the same period a year ago. Basic and diluted EPS was $0.45 against $0.49 for the same period a year ago. Net cash provided by operating activities was $5,807,000 against net cash used in operating activities $2,967,000 for the same period a year ago. Additions to property, plant and equipment was $4,707,000 against $4,122,000 for the same period a year ago. Adjusted operating income was $13,700,000 against $14,528,000 for the same period a year ago. Adjusted EBITDA was $18,534,000 against $18,682,000 for the same period a year ago. Capital Expenditures were $4,122,000 against $4,707,000 for the same period a year ago. Net debt was $57,263,000 against $8,814,000 for the same period a year ago. free cash flow was $1.1 million, up $8.2 million from the same period in 2012 due primarily to improved working capital. The company provided earnings guidance for the second quarter of 2013. For the second quarter of 2013 the company expects revenues to be in the range of $214 to $220 million, up sequentially from the first quarter of 2013, led by Energy. During the second quarter, the company expects to incur pre-tax repositioning related charges of between $4.2 and $4.8 million. Excluding those charges, adjusted earnings are expected to be in the range of $0.64 to $0.70 per diluted share, up sequentially from the first quarter of 2013 with margin expansion in all segments. Tax rate on adjusted earnings is expected to be approximately 29.5%. Excluding repositioning, the rate is anticipated to be approximately 31.1%. This guidance assumes that exchange rates remain at present levels. For the full year 2013, The company expects tax rate to be approximately 31%. And excluding repositioning charges, it will be 31%.

The Board of Directors of CIRCOR International, Inc. declared a regular quarterly dividend of $0.0375 per share on common stock payable on May 31, 2013 to shareholders of record as of the close of business on May 17, 2013.

CIRCOR International, Inc. announced that they will report Q1, 2013 results at 9:00 AM, Eastern Standard Time on May 02, 2013