Flowserve Corporation (NYSE: FLS) is a leading provider of fluid motion and control products and services. It produces engineered and industrial pumps, seals and valves, and a range of related flow management systems. Customers are in the oil and gas, chemical, general industrial, power generation, and water treatment sectors. The firm employs more than 14,000 and operates from offices in nearly sixty countries.

Flowserve pleased investors late last month, when it reported Q1 EPS of $1.53 and revenues of $993 million. Analysts had been expecting 94 cents and $930.3 million. The company posted record quarterly bookings of $1.43 billion, led by strong growth in both the original equipment and aftermarket businesses. Management also guided FY08 EPS to $5.90-$6.20, versus consensus of $5.39.

Flowserve Corporation (NYSE: FLS) is one of the world's leading providers of fluid motion and control products and services. It produces engineered and industrial pumps, seals and valves, plus a range of related flow management systems. Customers are in the oil and gas, chemical, general industrial, power generation, and water treatment sectors. The firm employs more than 14,000 and operates from offices in nearly sixty countries.

Flowserve pleased investors earlier in the month when it reported Q3 EPS of $1.24 and revenues of $919 million. Analysts had been expecting 92 cents and $910.7 million. Management also guided FY07 revenues to $3.6-$3.7 billion, versus consensus of $3.65 billion. The company came out of Q3 with a record backlog of $2.3 billion, up 39 percent from the end of 2006. FLS shares popped on the news and then moved into a bullish "flag" consolidation pattern. Prices frequently exit flags moving in the same direction they were traveling on entry. In this case, that would be to the upside.