Pentair, Inc. announced full year 2011 sales of $3.5 billion, an increase of 14 percent from the prior year. The full year sales increase reflected broad-based growth in both Water and Technical Products, and included 8 percentage points from the acquisition of Clean Process Technologies (CPT) and a point from favorable foreign exchange.
Total company fourth quarter sales increased 15 percent over the prior year quarter to $866 million, The company reported a fourth quarter operating loss of $120 million compared to operating income of $80 million in the prior year quarter.
the fourth quarter sales performances as compared to the same quarter last year were as follows:
Residential Flow sales were up 7 percent, with strong double-digit growth in agricultural products and U.S. residential pumps, partly offset by softness in western Europe.
Residential Filtration sales were up 5 percent, reflecting continued strength in fast growth regions, offset by lower residential water treatment component sales in developed regions.
Pool sales were up 18 percent, driven by continued dealer expansion, new product introductions and demand for the energy-efficient Eco-Select product line.
Engineered Flow sales were down 25 percent, reflecting continued headwinds in the municipal end-market and a negative 17 percentage point impact from GIWW.
Filtration Solutions sales were up 136 percent, reflecting a 133 percentage point or $92 million contribution from the CPT acquisition. The remaining 3 percentage points reflected year-over-year sales growth in foodservice and desalination.
Water reported a fourth quarter operating loss of $142 million, compared to operating income of $55 million in the same period last year