Exhibit

EXHIBIT 99.1

CIRCOR INTERNATIONAL, INC.

CONDENSED CONSOLIDATED STATEMENTS OF LOSS

(in thousands, except per share data)

(UNAUDITED)



	Three Months Ended
	March 31, 2019			April 1, 2018
Net revenues	$	270,395		$	275,580
Cost of revenues	196,526			199,276
GROSS PROFIT	73,869			76,304
Selling, general and administrative expenses	69,973			77,238
Special and restructuring (recoveries) charges, net	(7,816		)	12,446
OPERATING INCOME (LOSS)	11,712			(13,380		)
Other expense (income):
Interest expense, net	13,179			11,801
Other income, net	(1,913		)	(1,861		)
TOTAL OTHER EXPENSE, NET	11,266			9,940
INCOME (LOSS) BEFORE INCOME TAXES	446			(23,320		)
Provision for (benefit from) income taxes	5,079			(5,879		)
NET LOSS	$	(4,633	)	$	(17,441	)
Loss per common share:
Basic	$	(0.23	)	$	(0.88	)
Diluted	$	(0.23	)	$	(0.88	)
Weighted average number of common shares outstanding:
Basic	19,870			19,806
Diluted	19,870			19,806

CIRCOR INTERNATIONAL, INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(in thousands)

(UNAUDITED)



	Three Months Ended
OPERATING ACTIVITIES	March 31, 2019			April 1, 2018
Net loss	$	(4,633	)	$	(17,441	)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation	5,944			7,334
Amortization	12,836			12,329
Bad debt expense	109			261
Loss on write down of inventory	3,368			963
Amortization of inventory fair value step-up	—			6,600
Compensation expense for share-based plans	1,432			1,365
Amortization of debt issuance costs	1,010			881
Loss on sale or write-down of property, plant and equipment	96			1,284
Gain on sale of business	(10,282		)	—
Changes in operating assets and liabilities, net of effects of acquisition and disposition:
Trade accounts receivable	(8,635		)	22,038
Inventories	(3,452		)	(14,850		)
Prepaid expenses and other assets	2,881			(11,648		)
Accounts payable, accrued expenses and other liabilities	(23,052		)	(9,261		)
Net cash used in operating activities	(22,378		)	(145		)
INVESTING ACTIVITIES
Additions to property, plant and equipment	(3,717		)	(8,234		)
Proceeds from the sale of property, plant and equipment	28			93
Proceeds from the sale of business, net	83,321			—
Net cash provided by (used in) investing activities	79,632			(8,141		)
FINANCING ACTIVITIES
Proceeds from long-term debt	87,400			71,950
Payments of long-term debt	(140,500		)	(44,106		)
Proceeds from the exercise of stock options	—			301
Return of cash to Fluid Handling Seller	—			(7,905		)
Net cash (used in) provided by financing activities	(53,100		)	20,240
Effect of exchange rate changes on cash, cash equivalents and restricted cash	957			956
(DECREASE) INCREASE IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH	5,111			12,910
Cash, cash equivalents, and restricted cash at beginning of period	69,525			112,293
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH AT END OF PERIOD	$	74,636		$	125,203

CIRCOR INTERNATIONAL, INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

(in thousands, except share and per share data)

(UNAUDITED)



	March 31, 2019			December 31, 2018
ASSETS
CURRENT ASSETS:
Cash and cash equivalents	$	73,619		$	68,517
Trade accounts receivable, less allowance for doubtful accounts of $5,048 and $6,735 at March 31, 2019 and December 31, 2018, respectively	188,500			183,552
Inventories	217,991			217,378
Prepaid expenses and other current assets	89,904			90,659
Assets held for sale	4,623			87,940
Total Current Assets	574,637			648,046
PROPERTY, PLANT AND EQUIPMENT, NET	198,148			201,799
OTHER ASSETS:
Goodwill	460,995			459,205
Intangibles, net	422,302			441,302
Deferred income taxes	25,632			28,462
Other assets	37,620			12,798
TOTAL ASSETS	$	1,719,334		$	1,791,612
LIABILITIES AND SHAREHOLDERS’ EQUITY
CURRENT LIABILITIES:
Accounts payable	$	122,277		$	123,881
Accrued expenses and other current liabilities	99,591			107,312
Accrued compensation and benefits	27,251			33,878
Current portion of long-term debt	—			7,850
Liabilities held for sale	—			11,141
Total Current Liabilities	249,119			284,062
LONG-TERM DEBT	733,666			778,187
DEFERRED INCOME TAXES	33,780			33,932
PENSION LIABILITY, NET	148,297			150,623
OTHER NON-CURRENT LIABILITIES	38,295			15,815
COMMITMENTS AND CONTINGENCIES (NOTE 11)
SHAREHOLDERS’ EQUITY:
Preferred stock, $0.01 par value; 1,000,000 shares authorized; no shares issued and outstanding	—			—
Common stock, $0.01 par value; 29,000,000 shares authorized; 19,875,993 and 19,845,205 shares issued and outstanding at March 31, 2019 and December 31, 2018, respectively	212			212
Additional paid-in capital	442,568			440,890
Retained earnings	228,582			232,102
Common treasury stock, at cost (1,372,488 shares at March 31, 2019 and December 31, 2018)	(74,472		)	(74,472		)
Accumulated other comprehensive loss, net of tax	(80,713		)	(69,739		)
Total Shareholders’ Equity	516,177			528,993
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	$	1,719,334		$	1,791,612

CIRCOR INTERNATIONAL, INC. SUMMARY OF ORDERS AND BACKLOG (in millions) UNAUDITED

	Three Months Ended
	March 31, 2019		April 1, 2018
ORDERS (1)
Energy	$	67.8	$	129.8
Aerospace & Defense	88.1		59.8
Industrial	123.7		136.6
Total orders	$	279.6	$	326.2

BACKLOG (2)	March 31, 2019		April 1, 2018
Energy	$	140.3	$	224.1
Aerospace & Defense	206.5		165.8
Industrial	174.2		170.6
Total backlog	$	521.0	$	560.5

Note 1: Orders do not include the foreign exchange impact due to the re-measurement of customer order backlog amounts denominated in foreign currencies. Q1 2019 and 2018 orders include $4.1 million and $21.7 million, respectively, related to divested businesses.
Note 2: Backlog includes unshipped customer orders for which revenue has not been recognized. Backlog at Q1 2018 includes $25.6 million related to divested businesses.

CIRCOR INTERNATIONAL, INC. SEGMENT INFORMATION (in thousands, except percentages) UNAUDITED


	2018															2019
	1ST QTR			2ND QTR			3RD QTR			4TH QTR			TOTAL			1ST QTR
ORDERS
Energy	$	129,762		$	113,171		$	110,987		$	97,990		$	451,910		$	67,770
Aerospace & Defense	59,793			59,441			81,533			76,702			277,469			88,107
Industrial	136,607			136,746			114,876			121,886			510,115			123,746
Total	$	326,162		$	309,358		$	307,396		$	296,578		$	1,239,494		$	279,623

NET REVENUES
Energy	$	99,972		$	112,804		$	121,023		$	117,433		$	451,232		$	98,417
Aerospace & Defense	58,477			57,500			57,757			63,283			237,017			61,240
Industrial	117,131			131,064			118,734			120,647			487,576			110,738
Total	$	275,580		$	301,368		$	297,514		$	301,363		$	1,175,825		$	270,395

SEGMENT OPERATING INCOME
Energy	$	5,696		$	9,242		$	9,163		$	9,396		$	33,497		$	6,783
Aerospace & Defense	8,931			6,992			8,709			11,415			36,047			9,374
Industrial	12,948			15,037			14,609			14,746			57,340			10,787
Corporate expenses	(7,802		)	(6,448		)	(8,034		)	(8,015		)	(30,299		)	(6,705		)
Adjusted Operating Income	$	19,773		$	24,823		$	24,447		$	27,542		$	96,585		$	20,239

SEGMENT OPERATING MARGIN %
Energy	5.7		%	8.2		%	7.6		%	8.0		%	7.4		%	6.9		%
Aerospace & Defense	15.3		%	12.2		%	15.1		%	18.0		%	15.2		%	15.3		%
Industrial	11.1		%	11.5		%	12.3		%	12.2		%	11.8		%	9.7		%
CIRCOR Adjusted Operating Margin	7.2		%	8.2		%	8.2		%	9.1		%	8.2		%	7.5		%

SEGMENT OPERATING MARGIN % EXCLUDING DIVESTITURES
Energy	6.7		%	7.5		%	6.0		%	7.8		%	7.0		%	7.1		%
Aerospace & Defense	15.3		%	12.2		%	15.1		%	18.0		%	15.2		%	15.3		%
Industrial	11.4		%	11.9		%	12.8		%	12.7		%	12.2		%	9.7		%
CIRCOR Adjusted Operating Margin Excluding Divestitures	7.7		%	8.2		%	7.9		%	9.3		%	8.3		%	7.6		%



CIRCOR INTERNATIONAL INC.
SUPPLEMENTAL INFORMATION REGARDING DIVESTED BUSINESSES
(in thousands)
UNAUDITED

	2018										2019
DIVESTED BUSINESSES	1st QTR		2nd QTR		3rd QTR		4th QTR		Total		1st QTR

ORDERS
Energy	$	16,891	$	18,389	$	19,145	$	15,451	$	69,875	$	4,104
Industrial	4,848		4,484		2,302		4,796		16,430		—
CIRCOR	$	21,738	$	22,873	$	21,446	$	20,247	$	86,305	$	4,104

NET REVENUES
Energy	$	14,731	$	17,419	$	16,579	$	16,885	$	65,613	$	3,106
Industrial	3,897		1,499		2,070		3,846		11,312		—
CIRCOR	$	18,628	$	18,918	$	18,649	$	20,731	$	76,925	$	3,106

SEGMENT OPERATING INCOME
Energy	$	8	$	2,085	$	2,905	$	1,597	$	6,596	$	—
Industrial	79		(427)		(371)		(78)		(798)		—
CIRCOR	$	87	$	1,658	$	2,534	$	1,519	$	5,798	$	—

CIRCOR INTERNATIONAL, INC. RECONCILIATION OF KEY PERFORMANCE MEASURES TO COMMONLY USED GENERALLY ACCEPTED ACCOUNTING PRINCIPLE TERMS (in thousands, except percentages) UNAUDITED

	2018															2019
	1ST QTR			2ND QTR			3RD QTR			4TH QTR			TOTAL			1ST QTR
NET CASH (USED IN) PROVIDED BY OPERATING ACTIVITIES	$	(145	)	$	(465	)	$	24,073		$	30,531		$	53,994		$	(22,378	)
LESS:
Capital expenditures, net of sale proceeds	8,141			3,563			5,119			6,534			23,357			3,689
FREE CASH FLOW	$	(8,286	)	$	(4,028	)	$	18,954		$	23,997		$	30,637		$	(26,067	)

GROSS DEBT	$	823,665		$	827,629		$	831,613		$	807,050		$	807,050		$	753,950
LESS: Cash & cash equivalents	123,305			69,030			71,334			68,517			68,517			73,619
GROSS DEBT, NET OF CASH	$	700,360		$	758,599		$	760,279		$	738,533		$	738,533		$	680,331

TOTAL SHAREHOLDERS' EQUITY	$	592,096		$	573,992		$	574,171		$	528,993		$	528,993		$	516,177

GROSS DEBT AS % OF EQUITY	139		%	144		%	145		%	153		%	153		%	146		%
GROSS DEBT, NET OF CASH AS % OF EQUITY	118		%	132		%	132		%	140		%	140		%	132		%

CIRCOR INTERNATIONAL, INC. RECONCILIATION OF KEY PERFORMANCE MEASURES TO COMMONLY USED GENERALLY ACCEPTED ACCOUNTING PRINCIPLE TERMS (in thousands, except per share data) UNAUDITED

	2018															2019
	1ST QTR			2ND QTR			3RD QTR			4TH QTR			TOTAL			1ST QTR
NET INCOME (LOSS)	$	(17,441	)	$	5,902		$	(6,841	)	$	(21,005	)	$	(39,385	)	$	(4,633	)
LESS:
Restructuring related inventory charges	473			1,067			—			864			2,404			3,142
Amortization of inventory step-up	6,600			—			—			—			6,600			—
Restructuring charges, net	9,615			844			1,348			944			12,751			863
Acquisition amortization	11,797			11,767			11,733			12,012			47,309			12,077
Acquisition depreciation	1,837			1,735			1,742			1,735			7,049			1,123
Special charges (recoveries), net	2,831			1,156			1,408			5,692			11,087			(8,678		)
Income tax impact	(7,687		)	(11,056		)	967			12,124			(5,652		)	3,751
ADJUSTED NET INCOME	$	8,025		$	11,415		$	10,357		$	12,366		$	42,163		$	7,645

EARNINGS (LOSS) PER COMMON SHARE (Diluted)	$	(0.88	)	$	0.30		$	(0.34	)	$	(1.05	)	$	(1.97	)	(0.23		)
LESS:
Restructuring related inventory charges	0.02			0.05			—			0.04			0.12			0.16
Amortization of inventory step-up	0.33			—			—			—			0.33			—
Restructuring charges, net	0.49			0.04			0.07			0.05			0.64			0.04
Acquisition amortization	0.60			0.59			0.59			0.60			2.37			0.60
Acquisition depreciation	0.09			0.09			0.09			0.09			0.35			0.06
Special charges (recoveries), net	0.14			0.06			0.07			0.29			0.55			(0.43		)
Income tax impact	(0.39		)	(0.55		)	0.05			0.61			(0.28		)	0.19
ADJUSTED EARNINGS PER SHARE (Diluted)	$	0.40		$	0.57		$	0.52		$	0.62		$	2.11		$	0.38

CIRCOR INTERNATIONAL, INC. RECONCILIATION OF KEY PERFORMANCE MEASURES TO COMMONLY USED GENERALLY ACCEPTED ACCOUNTING PRINCIPLE TERMS (in thousands) UNAUDITED

	2018															2019
	1ST QTR			2ND QTR			3RD QTR			4TH QTR			TOTAL			1ST QTR
NET INCOME (LOSS)	$	(17,441	)	$	5,902		$	(6,841	)	$	(21,005	)	$	(39,384	)	$	(4,633	)
LESS:
Interest expense, net	(11,801		)	(13,755		)	(14,100		)	(13,257		)	(52,913		)	(13,179		)
Depreciation	(7,334		)	(7,157		)	(7,065		)	(7,198		)	(28,754		)	(5,944		)
Amortization	(12,329		)	(12,282		)	(12,234		)	(12,410		)	(49,255		)	(12,836		)
Benefit from (provision for) income taxes	5,879			7,646			(2,537		)	(14,278		)	(3,290		)	(5,079		)
EBITDA	$	8,144		$	31,450		$	29,095		$	26,138		$	94,828		$	32,405
LESS:
Restructuring related inventory charges	(473		)	(1,067		)	—			(864		)	(2,404		)	(3,142		)
Amortization of inventory step-up	(6,600		)	—			—			—			(6,600		)	—
Restructuring charges, net	(9,615		)	(844		)	(1,348		)	(944		)	(12,751		)	(863		)
Special (charges) recoveries, net	(2,831		)	(1,156		)	(1,408		)	(5,692		)	(11,087		)	8,678
ADJUSTED EBITDA	$	27,663		$	34,517		$	31,851		$	33,638		$	127,669		$	27,732

CIRCOR INTERNATIONAL, INC. RECONCILIATION OF KEY PERFORMANCE MEASURES TO COMMONLY USED GENERALLY ACCEPTED ACCOUNTING PRINCIPLE TERMS (in thousands, except percentages) UNAUDITED

	2018															2019
	1ST QTR			2ND QTR			3RD QTR			4TH QTR			TOTAL			1ST QTR
GAAP OPERATING INCOME (LOSS)	$	(13,380	)	$	8,252		$	8,216		$	6,296		$	9,384		$	11,712
LESS:
Restructuring related inventory charges	473			1,067			—			864			2,404			3,142
Amortization of inventory step-up	6,600			—			—			—			6,600			—
Restructuring charges, net	9,615			844			1,348			944			12,751			863
Acquisition amortization	11,797			11,767			11,733			12,012			47,309			12,077
Acquisition depreciation	1,837			1,735			1,742			1,735			7,049			1,123
Special charges (recoveries), net	2,831			1,156			1,408			5,692			11,087			(8,678		)
ADJUSTED OPERATING INCOME	$	19,773		$	24,821		$	24,447		$	27,543		$	96,584		$	20,239

GAAP OPERATING MARGIN	(4.9		)%	2.7		%	2.8		%	2.1		%	0.8		%	4.3		%
LESS:
Restructuring related inventory charges	0.2		%	0.4		%	—		%	0.3		%	0.2		%	1.2		%
Amortization of inventory step-up	2.4		%	—		%	—		%	—		%	0.6		%	—		%
Restructuring charges, net	3.5		%	0.3		%	0.5		%	0.3		%	1.1		%	0.3		%
Acquisition amortization	4.3		%	3.9		%	3.9		%	4.0		%	4.0		%	4.5		%
Acquisition depreciation	0.7		%	0.6		%	0.6		%	0.6		%	0.6		%	0.4		%
Special charges (recoveries), net	1.0		%	0.4		%	0.5		%	1.9		%	0.9		%	(3.2		)%
ADJUSTED OPERATING MARGIN	7.2		%	8.2		%	8.2		%	9.1		%	8.2		%	7.5		%
Impact of Divestitures	0.5		%	—		%	(0.3		)%	0.2		%	0.1		%	0.1		%
ADJUSTED OPERATING MARGIN EXCLUDING DIVESTITURES	7.7		%	8.2		%	7.9		%	9.3		%	8.3		%	7.6		%

CIRCOR INTERNATIONAL, INC.

Q1 2019 Organic Growth Calculations

(in thousands, except percentages)

UNAUDITED



	Industrial			Energy				Aerospace & Defense			CIRCOR
ORDERS	$		%	$		%		$		%	$		%

Q1 2018	$	136.6		$	129.8			$	59.8		$	326.2
Divestitures	(4.8)			(16.9)				0			(21.7)
Q1 2018 Excluding Divestitures	131.8			112.9				59.8			304.4

Organic	(1.3)		-1%	(48.0)		-42%		29.7		50%	(19.5)		-6%
Acquisition / Divestiture	0		0%	4.1		4%		0		0%	4.1		1%
FX	(6.8)		-5%	(1.3)		-1%		(1.4)		-2%	(9.4)		-3%
Total Change Excluding Divestitures	(8.0)		-6%	(45.1)		-40%		28.3		47%	(24.8)		-8%

Q1 2019	$	123.7		$	67.8			$	88.1		$	279.6

	Industrial			Energy				Aerospace & Defense			CIRCOR
NET REVENUE	$		%	$		%		$		%	$		%

Q1 2018	$	117.1		$	100.0			$	58.5		$	275.6
Divestitures	(3.9)			(14.7)				0			(18.6)
Q1 2018 Excluding Divestitures	113.2			85.2				58.5			257.0

Organic	3.8		3%	12.1		14	%	4.0		7%	20.0		8	%
Acquisition / Divestiture	0		0%	3.1		4	%	0		0%	3.1		1%
FX	(6.3)		-6%	(2.1)		-2%		(1.3)		-2%	(9.6)		-4%
Total Change Excluding Divestitures	(2.5)		-2%	13.2		15%		2.7		5%	13.5		5%

Q1 2019	$	110.7		$	98.4			$	61.2		$	270.4