CHARLOTTE, N.C. – SPX Corp. has announced its 2012 annual financial guidance.
 
"We believe the earnings potential for our company is as healthy as it has ever been. For 2012, we expect revenue growth in three of our four segments, led by Flow Technology, and are targeting a full-year EPS range of $4.70 to $5.10," said SPX Chairman, President and CEO Christopher Kearney. "Our 2012 guidance reflects our view of continued above-average growth in emerging markets, a slow-growth U.S. economy and a cautious outlook on the economic environment in Europe. We made significant progress in advancing our long-term strategy in 2011 and we intend to continue evaluating strategic actions to further improve our business."
 
SPX stated that it expects the following results in 2012:
 
·      Revenues are expected to be in the range of $6 billion to $6.25 billion, resulting in an increase of 9 percent to 14 percent compared to 2011. Organic revenues are expected to increase 1 percent to 5 percent from 2011, while completed acquisitions are expected to increase reported revenues by 11 percent to 12 percent and the impact of currency fluctuations is expected to decrease reported revenues by approximately 3 percent from 2011.
 
·      Earnings per share from continuing operations are expected to be $4.70 to $5.10. This includes an expected contribution of approximately 30 cents per share from the acquisition of ClydeUnion.
 
·      Net cash from continuing operations is expected to be $370 million to $410 million, while capital expenditures are expected to be approximately $130 million. The resulting free cash flow range is expected to be between $240 and $280 million. This performance represents approximately 100 percent conversion of expected net income.
 
The company expects to release its fourth quarter and full-year 2011 financial results on Thursday, Feb. 16, and disclosed that, while it is still reviewing its 2011 results, preliminary indications are that it would be at the lower end of its 2011 earnings per share guidance range, and that it intends to report 2011 earnings on an adjusted basis excluding certain potential gains and charges not previously anticipated in its 2011 guidance range.