Crane Co. announced unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2016. For the quarter, the company reported total net sales were $681.4 million against $680.6 million a year ago. Operating loss was $91.6 million against profit of $103.5 million a year ago. Interest income was $0.5 million against $0.5 million a year ago. Loss before income taxes was $101.2 million against income of $94.4 million a year ago. Net loss attributable to the company was $64.0 million against income of $65.2 million a year ago. Diluted loss per share was $1.09 against income of $1.11 a year ago. Total cash provided by operating activities was $149.7 million against $113.6 million a year ago. Capital expenditure was $13.0 million against $11.4 million a year ago. Net income attributable to the common shareholders before special items was $61.1 million against income of $65.8 million a year ago. Diluted income per share before special items was $1.02 against income of $1.12 a year ago. Operating profit before special items was $100.8 million against income of $104.2 million a year ago. Core sales increased $17 million, or 2.5%, mostly offset by a $16 million, or 2.4%, impact from unfavorable foreign exchange.

For the full year, the company reported total net sales were $2,748.0 million against $2,740.5 million a year ago. Operating profit was $200.3 million against profit of $372.9 million a year ago. Interest income was $1.9 million against $1.9 million a year ago. Income before income taxes was $164.1 million against income of $336.5 million a year ago. Net income attributable to the company was $122.8 million against income of $228.9 million a year ago. Diluted income per share was $2.07 against income of $3.89 a year ago. Total cash provided by operating activities was $318.1 million against $229.3 million a year ago. Capital expenditure was $50.6 million against $35.2 million a year ago. Net income attributable to the common shareholders before special items was $251.1 million against income of $242.5 million a year ago. Diluted income per share before special items was $4.23 against income of $4.13 a year ago. Core sales growth of $56 million, or 2%, were mostly offset by a $48 million, or 2%, impact from unfavorable foreign exchange. Total debt was $745 million at December 31, 2016, compared to $794 million at December 31, 2015. Operating profit before special items was $397.7 million against income of $391.1 million a year ago.

For the fiscal 2017, sales are expected to be approximately $2.7 billion, reflecting core sales of 0% to up 2%, more than offset by unfavorable foreign exchange of approximately 3%, and a 0.5% impact from divestitures. Earnings are expected to be in a range of $4.30-$4.55 per diluted share. Full year 2017 free cash flow (cash provided by operating activities less capital spending) is expected to be in a range of $220-$250 million. Capital expenditure is expected to be $50.0 million.