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Home > Fortune 500 Companies > Spx Corp
Spx Corp
Spx Corp is a publicly traded company having a good stock performance result. Spx Corp is a fortune 500 stock listed company trading under the symbol SPW. The company was founded in 1911 as The Piston Ring Company. It changed its name to SPX Corporation in 1988. SPX is headquartered in Charlotte, North Carolina.
SPX Corporation is a global multi-industry manufacturing leader committed to operational excellence and execution. Operating in more than 20 countries with approximately 15,000 employees, SPX is a provider of Flow Technology, Test and Measurement, Thermal Equipment and Services, and Industrial Products and Services primarily in North America, Germany, and the United Kingdom. The Flow Technology segment designs, manufactures, and markets products and solutions for processing or transporting fluids, and heat transfer applications and airflow treatment systems. The Test and Measurement segment engineers and manufactures test and measurement products, such as specialty automotive diagnostic service tools, fare collection boxes, portable cable and pipe locators, and vibration testing equipment.
The Thermal Equipment and Services segment engineers, manufactures, and services cooling, heating, and ventilation products. It offers dry, wet, and hybrid cooling systems; cooling towers; air-cooled condensers for power generation, refrigeration, heating, ventilation, and air conditioning; and hydronic and heating and ventilation products. This segment also provides thermal components for power and steam generation plants, and engineered services.
Revenues increased 4.8 percent to 4.29 billion dollars from 4.10 billion dollars in 2004. Organic revenue growth revenue growth over the year-ago period excluding the effects of foreign currency fluctuations and acquisitions and divestitures was 4.3 percent, while completed acquisitions, the impact of currency fluctuations, and the change in classification of certain sales program costs previously noted combined to increase reported revenues by 0.5 percent. Segment income and margins were 443.9 million dollars and 10.3 percent as compared with 411.6 million dollars and 10.0 percent in 2004. Diluted net income per share was 15.33 dollars as compared with a loss of 0.23 dollar in 2004. The 2005 and 2004 results included non-cash charges for impairment of goodwill and other intangible assets of 78.2 million dollars and 246.8 million dollars, 3.06 dollars per share, respectively, and income from discontinued operations of 1.1 billion dollars, 15.61 dollars per share and 99.4 million dollars, 1.34 dollars per share respectively.
The Company has a strong tradition of leadership, service and contributions. The company’s mission is bringing comfort to customers, supporting business and commerce, and building strong communities.
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