SPX Corp. (SPW) Misses Q1 EPS by 3c

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SPX Reports First Quarter 2015 Results

April 29, 2015 6:30 AM EDT

CHARLOTTE, N.C., April 29, 2015 /PRNewswire/ -- SPX Corporation (NYSE: SPW) today reported results for the quarter ended March 28, 2015.

First Quarter 2015 Overview:

Revenues declined 12.1% to $0.95 billion from $1.08 billion in the year-ago quarter. The impact of the stronger U.S. dollar on foreign currencies decreased revenues by 6.4%. Organic revenues* decreased 5.7%, due primarily to lower power and energy revenue in the Flow and Thermal segments, largely reflecting the impact of lower oil prices on customer capital spending decisions and on-going weakness in power generation markets.... More