Crane Raises 2011 EPS Guidance to $3.30-3.45 vs. $3.05 - $3.25 Prior

Crane Co. CR says "sales for 2011 are now expected to increase approximately 14% - 16%, compared to our prior guidance of 10% - 12%, driven by strong core sales growth. Our 2011 earnings guidance is now a range of $3.30 - $3.45 per diluted share, compared to our previous guidance of $3.05 - $3.25 per diluted share. Free cash flow (cash provided by operating activities less capital spending) is now expected to be in a range of $140 - $160 million, compared to our previous estimate of $130 - $150 million."