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EnPro reports 2nd-qtr loss versus profit

Thursday August 1,
CHARLOTTE, N.C., Aug 1 (Reuters) - EnPro Industries Inc. (NYSE:NPO - News), a maker of engineered products, said on Thursday it posted a second-quarter loss versus a year-ago profit as it grappled with weak industrial markets and a slow pace of capital spending.

EnPro, a maker of products including polymer bearings and compressor systems, reported a second-quarter loss from continuing operations of $12.1 million or 60 cents a share compared with income of $4.6 million a year ago, when its results were reported as part of Goodrich Corp. (NYSE:GR - News).

Excluding charges of $1 per share, EnPro's adjusted income fell to $8 million, or 40 cents a share from $8.3 million, or 41 cents a share a year ago.

The company said it expects its full year 2002 adjusted income to exceed its full year 2001 earnings of 85 cents a share.

EnPro said it is likely that goodwill relating to certain units of the business has been impaired and that the impairment would add up to no more than $24 million.