Rich Maue, Crane Holdings’ senior vice president and chief financial officer, gave some commentary on the plan announced in March to split off from the main group and separately list, the payment and merchandising technologies business, as “Crane NXT”.
Crane Holdings Co, it´s a provider of products and services to sectors including cash handling in the casino industry, slipped to a net loss of US$59.3 million, compared to US$116.6-million net income in the same quarter a year earlier. In the second quarter this year, Crane had produced US$280.5-millon in net income.
“Third quarter 2022 GAAP net loss per share of US$1.06 included an after-tax loss of US$162 million, or US$2.89 per share, on the August divestiture of asbestos-related assets and liabilities and other special items,” said the group in a press release issued on Monday, and referring to generally-accepted accounting principles (GAAP).
Quarterly net sales in the payment and merchandising technologies segment narrowed by 8.4 percent year-on-year, to US$335.1 million.
The segment represented the group’s highest single source of net sales in the three months to September 30. The next highest was process flow technologies, with US$250.0 million in net sales; then aerospace and electronics, with US$167.2 million; and finally engineered materials with US$62.8 million.
