IRVING, Texas (AP) — IRVING, Texas (AP) — Flowserve Corp. (FLS) on Tuesday reported fourth-quarter earnings of $62.6 million.

The Irving, Texas-based company said it had net income of 47 cents per share. Earnings, adjusted for non-recurring costs, came to 68 cents per share.

The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 61 cents per share.

The company that makes pumps, valves and other parts for the oil and gas industries posted revenue of $1.17 billion in the period, which also beat Street forecasts. Four analysts surveyed by Zacks expected $1.14 billion.

For the year, the company reported profit of $186.7 million, or $1.42 per share. Revenue was reported as $4.32 billion.

Flowserve expects full-year earnings in the range of $2.40 to $2.60 per share.

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