UPDATE: Dresser-Rand Posts Surge In Q2 Profit

Dresser-Rand Group

reported a strong rise in its second-quarter profit. Dresser-Rand's quarterly profit surged to $34 million, or $0.45 per share, from a year-ago profit of $11.2 million, or $0.14 per share. Its total revenue rose 8% to $635.8 million. However, analysts were expecting a profit of $0.49 per share on revenue of $700 million. Its gross margin rose to 26.4% from 24.8%. Dresser-Rand shares closed at $45.61 yesterday.