EnPro Industries logs lower 1Q net income
EnPro Industries this morning reported lower net income for the first quarter compared with the same period last year.
The Charlotte-based company, which manufactures and markets industrial sealing products, said it had net income of $15.2 million, or 74 cents a share, down from $99 million, or $4.89 a share, in the year-ago period.
EnPro’s first-quarter net sales were $269.6 million, down from $228.2 million a year ago.
President and CEO Steve Macadam said the sales growth stemmed from higher demand for most of the company’s products, acquisitions and near-record sales in EnPro’s engine business.