UPDATE: SPX Reports Decline In Q2 Profit

SPX Corp SPW reported a decline in its second-quarter profit. SPX reported its quarterly profit at $34.3 million, down from $78.8 million, in the year-ago period. Its revenue climbed 16% to $1.38 billion. The company's earnings per share dropped to $0.67 from $1.57. SPX's adjusted earnings came in at $0.91 per share. However, analysts were expecting adjusted earnings of $0.91 per share on revenue of $1.33 billion. SPX shares gained 1.72% to $72.00 in pre-market trading.