REDWOOD CITY, Calif. -
Pentair, a leading global industrial company providing advanced solutions in energy, food and water, recently completed a 65,000-square-foot expansion at its Redwood City operations in California’s Silicon Valley. The increased footprint allows for expanded manufacturing capabilities, a new technology center with state-of-the-art research and development labs, and a modern learning center featuring a smart customer experience to provide training opportunities for industry professionals. The site manufactures the company’s Raychem brand heat tracing cable for residential, commercial and industrial applications.
MANCHESTER, United Kingdom -
Pentair plc (NYSE: PNR) today announced fourth quarter 2015 sales of $1.8 billion. Sales were down 2 percent compared to sales for the same period last year. Excluding the unfavorable impact of currency translation and positive contribution from acquisitions, core sales declined 4 percent in the fourth quarter.
Adjusted fourth quarter 2015 earnings per diluted share from continuing operations (“EPS”) were $1.13, down 3 percent from adjusted EPS of $1.17 in the fourth quarter of last year. On a GAAP basis, excluding impairment charges, the company reported EPS of $0.51 compared to $0.70 in the fourth quarter of 2014. Amounts excluded from segment income, adjusted net income and adjusted EPS are described in the attached schedules.