CHARLOTTE—EnPro Industries Inc.'s net income for 2013 declined to $27.4 million, compared to $41 million for 2012.
Before selected items, net income for 2013 was $56 million, compared to $66.2 million in 2012.
Sales for the year decreased by 3 percent to $1.15 billion, which the firm attributed to lower engine revenues and reduced demand for parts and services in the engine products and services segment.
EnPro's sealing products segment experienced increased sales for the fourth quarter of 2013, by 7 percent to $152.5 million. For the year, sales increased by 2 percent to $622.9 million.
The segment's profits increased 20 percent for the fourth quarter to $23.9 million. For the year, profits increased to $97.1 million, up from $88.8 million.
The firm attributed the results to increased demand for products sold into semiconductor markets by the Technetics Group. Demand also increased in Stemco's heavy-duty truck markets and in the Asian markets of the consolidated Garlock operations.
EnPro's Garlock Sealing Technologies segment experienced a 32 percent increase in net income to $8.7 million for the fourth quarter and 19 percent to $37.8 million for the year. Its sales decreased 5 percent decrease to $50.4 million for the fourth quarter and a 1 percent decrease to $218.3 million for the year.
The company cited declines in activity in Japanese and Australian markets served by Garlock Sealing Technologies.