Colfax Corporation Revenues Up 28 percent

Fulton-based Colfax Corporation (NYSE: CFX), reported that third quarter net sales surged 28.6 percent to $170.29 million with third quarter orders totaling $174.39 million, a jump of 40.9 percent.

Net income declined to $3.69 million or $0.08 cents per basic and diluted share in the third quarter ended September 30, 2011 in comparison to the third quarter 2010 with net income of $5.85 million or $0.13 cents per basic and diluted share.

Non-GAAP net income beat the average analyst estimate of $0.30 cents and the high estimate of $0.32 cents by reporting $0.37 cents per share.

Colfax stock was up $1.35 or 5.69 % to $25.08 a share in afternoon trading. The Howard County company now has a market cap of over $1.09 billion.

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