EXHIBIT 99.1

PRESS RELEASE

Contact:	Kenneth Smith
	Chief Financial Officer
	CIRCOR International, Inc.
	781-270-1200

CIRCOR Announces Second Quarter Results

• Net earnings of $0.40 posted for quarter; consistent with expectations

• Orders and backlog continue to climb as all key markets show strength

• Changes in operating management bring needed skills to improve performance

BURLINGTON, MA, August 1, 2006

CIRCOR International, Inc. [NYSE:CIR], a leading provider of valves and other fluid control devices for the instrumentation, aerospace, industrial and energy markets, today announced results for its second quarter ended July 2, 2006.

Net income for the second quarter of 2006 was $6.5 million, or $0.40 per diluted share, compared to $6.2 million, or $0.38 per diluted share, for the 2005 second quarter. Revenues for the 2006 second quarter were $144.4 million, an increase of 22% from $118.7 million in the second quarter of 2005.

The earnings per share for the second quarter 2006 includes a $0.01 charge for the adoption of FAS 123R, the expensing of stock options.

For the six months ended July 2, 2006, net income was $11.6 million, or $0.71 per diluted share. Net income for the six months ended July 3, 2005, totaled $11.3 million, or $0.70 per diluted share. Revenues for the first six months of 2006 were $271.7 million, an increase of 23% from $220.9 million for the first six months of 2005. The earnings per share for the six months ended July 2, 2006, includes a $0.02 charge for the adoption of FAS 123R, the expensing of stock options.

The Company received orders totaling $196.1 million during the second quarter 2006, an increase of 88% over the same period in 2005. Backlog at July 2, 2006, reached another record of $293.1 million, up 128% over July 3, 2005 backlog and sequentially increasing 21% over the first quarter of 2006. Excluding acquisitions completed during the past 12 months, orders increased 52% and backlogs rose 75% compared to second quarter 2005.

The Company indicated that higher shipment levels helped drive its second quarter results slightly above the guidance provided in the Company’s May 1, 2006 press release and May 2, 2006 investor conference call. The Company’s Chairman and Chief Executive Officer, David A. Bloss, Sr., said, “Our results for the quarter reflect the shipment growth from acquisitions, our

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Energy Products segment and increased business activity in the power generation and commercial HVAC markets. Despite the variable pattern of large project order bookings within our Energy Products segment, quotation activity remains strong and our backlogs continue to be well ahead of last year in substantially all of the Company’s primary markets.”

For the six months ended July 2, 2006, the Company’s free cash flow was a use of $4.8 million (defined as net cash used in operating activities, less capital expenditures and dividends paid) and included investment in working capital to support the strong order growth. The acquisitions of Sagebrush Pipeline Equipment Company and Hale-Hamilton during the first quarter 2006 used a combined $61 million in cash and necessitated the Company’s drawing upon its revolving credit facility, contributing to the Company having a 16% net debt to net capitalization ratio at the end of the second quarter.

CIRCOR’s Instrumentation and Thermal Fluid Controls Products segment revenues were $79.5 million for the second quarter, an increase of 26% over revenues of $62.9 million in the same period last year and up 23% on a year-to-date basis, primarily due to acquisitions. Excluding acquisitions, incoming orders for this segment were up 12% compared to the second quarter last year, while backlog at quarter-end increased 35% versus last year. This segment’s operating margin for the second quarter decreased to 8.6% compared to 12.2% during the same period last year as production and supply issues continue to be resolved. Mr. Bloss noted, “The results for this segment benefited from stronger industrial market conditions that were partially offset by the costs associated with higher metal costs, supplier capacity constraints, developing low-cost country supply sources, upgrading management talent, and rebuilding our manufacturing processes with lean and Six Sigma.”

Revenues for the Company’s Energy Products segment increased 16% to $64.9 million from $55.7 million in the second quarter of last year and were up 24% on a year-to-date basis primarily due to its Sagebrush acquisition and the increase in global oil and gas project activity. Excluding acquisitions, incoming orders for the second quarter rose 110% and ending backlog increased of 112% compared to the same periods last year. Worldwide market conditions for oil and gas projects continue to be strong. This segment’s operating margin grew 100 basis points to 11.4% for the second quarter of 2006, compared to the same period last year, and sequentially rose 100 basis points from the first quarter of 2006.

Mr. Bloss commented, “Our Energy Products segment achieved impressive results this quarter as we ramped up production to meet demand in the oil and gas industry. We expect this trend to continue due to the strong quotation activity and large project engineering work we are experiencing. Our Instrumentation and Thermal Fluid Controls segment continues to struggle from a profitability standpoint even though its markets are steadily improving. Operationally, this segment has been our biggest challenge, requiring key management changes to obtain the skills needed to design and implement significant process changes. Although the new teams have yet to fully complete their initial reviews and evaluations, we continue to expect improved operating results during the second half of this year.”

CIRCOR provided guidance for its third quarter 2006 results, indicating it expects earnings to be in the range of $0.42 to $0.45 per diluted share excluding special charges but including a non-cash charge of approximately $0.01 per diluted share for the adoption of FAS 123R relating to expensing of stock options. The guidance compares favorably to earnings of $0.29 per diluted

5

share in the third quarter last year, which excluded a $0.02 special charge for plant consolidation costs. The Company does expect to record a pre-tax special charge in the third quarter 2006 of approximately $0.5 million representing a curtailment cost related to the Company freezing benefits under its qualified U.S. pension plan as of July 1, 2006.

CIRCOR International has scheduled a conference call to review its results for the second quarter 2006 on Wednesday, August 2, 2006 at 10:30 a.m. ET. Interested parties may access the call by dialing (800) 475-3716 for US & Canada and (719) 457-2728 for International locations. A replay of the call will be available from 1:30 p.m. ET on August 2, 2006 through midnight on Tuesday, August 8, 2006. To access the replay, interested parties can dial (888) 203-1112 or (719) 457-0820 and enter confirmation code # 4415765 when prompted. The presentation slides that will be discussed in the conference call are expected to be available on Tuesday, August 1, 2006 by 6:00 p.m. ET. The presentation slides may be downloaded from the Quarterly Earnings page of the Investors section on the CIRCOR Website: http://www.CIRCOR.com. An audio recording of the conference call also is expected to be posted on the Company’s website by August 7, 2006.

CIRCOR International, Inc. is a leading provider of valves and fluid control products that allow customers around the world to use fluids safely and efficiently in the instrumentation, aerospace, industrial and energy markets. CIRCOR’s executive headquarters are located at 25 Corporate Drive, Burlington, MA 01803.

This press release contains certain statements that are “forward-looking statements” as that term is defined under the Private Securities Litigation Reform Act of 1995 (the “Act”) and releases issued by the Securities and Exchange Commission (SEC). The words “may,” “hope,” “should,” “expect,” “plan,” “anticipate,” “intend,” “believe,” “estimate,” “predict,” “potential,” “continue,” and other expressions which are predictions of or indicate future events and trends and which do not relate to historical matters identify forward-looking statements. We believe that it is important to communicate our future expectations to our stockholders, and we, therefore, make forward-looking statements in reliance upon the safe harbor provisions of the Act. However, there may be events in the future that we are not able to accurately predict or control, and our actual results, performance or achievements may differ materially from the expectations we describe in our forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, the cyclicality and highly competitive nature of some of our end markets, changes in the price of and demand for oil and gas in both domestic and international markets, variability of raw material and component pricing, fluctuations in foreign currency exchange rates, our ability to continue successfully defending product liability actions and our ability to continue operating our manufacturing facilities at efficient levels and to successfully implement our acquisition strategy. We advise you to read further about these and other risk factors set forth under the caption “Certain Risk Factors That May Affect Future Results” in our SEC filings. We undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

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CIRCOR INTERNATIONAL, INC.

CONSOLIDATED STATEMENTS OF OPERATIONS

(in thousands, except per share data)

UNAUDITED

	Three Months Ended						Six Months Ended
	July 2, 2006			July 3, 2005			July 2, 2006			July 3, 2005
Net revenues	$	144,389		$	118,657		$	271,684		$	220,895
Cost of revenues		102,268			84,121			191,225			153,418
GROSS PROFIT		42,121			34,536			80,459			67,477
Selling, general and administrative expenses		31,409			24,043			61,259			48,134
Special charges		—			133						437
OPERATING INCOME		10,712			10,360			19,200			18,906
Other (income) expense:
Interest income		(89	)		(229	)		(197	)		(314	)
Interest expense		1,553			896			2,686			1,768
Other (income) expense, net		(248	)		204			(380	)		23
Total other expense		1,216			871			2,109			1,477
INCOME BEFORE INCOME TAXES		9,496			9,489			17,091			17,429
Provision for income taxes		3,038			3,321			5,469			6,100
NET INCOME	$	6,458		$	6,168		$	11,622		$	11,329
Earnings per common share:
Basic	$	0.40		$	0.39		$	0.73		$	0.73
Diluted	$	0.40		$	0.38		$	0.71		$	0.70
Weighted average common shares outstanding:
Basic		15,968			15,676			15,911			15,597
Diluted		16,332			16,171			16,266			16,089

CIRCOR INTERNATIONAL, INC.

CONSOLIDATED STATEMENTS OF CASH FLOWS

(in thousands)

UNAUDITED

	Six Months Ended
	July 2, 2006			July 3, 2005
OPERATING ACTIVITIES
Net income	$	11,622		$	11,329
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation		5,788			5,183
Amortization		1,082			265
Compensation expense of stock-based plans		1,580			475
(Gain) loss on sale of assets held for sale		—			—
(Gain) loss on disposal of property, plant and equipment		(80	)		20
Equity in undistributed income of affiliates		(8	)		(105	)
Changes in operating assets and liabilities, net of effects from business acquisitions:
Trade accounts receivable		(8,472	)		(5,793	)
Inventories		(24,471	)		(9,745	)
Prepaid expenses and other assets		(1,213	)		(290	)
Accounts payable, accrued expenses and other liabilities		13,876			18,793
Net cash provided by operating activities		(296	)		20,132
INVESTING ACTIVITIES
Additions to property, plant and equipment		(3,320	)		(6,804	)
Proceeds from disposal of property, plant and equipment		304			7
Proceeds from sale of assets held for sale		100			—
Business acquisitions, net of cash acquired		(60,989	)		(42,093	)
Purchase of investments		(5,734	)		—
Proceeds from sale of investments		3,195			—
Net cash used in investing activities		(66,444	)		(48,890	)
FINANCING ACTIVITIES
Proceeds from debt borrowings		65,547			2,645
Payments of debt		(7,038	)		(3,135	)
Dividends paid		(1,195	)		(1,175	)
Proceeds from the exercise of stock options		1,708			2,756
Tax effect of share based compensation		957
Net cash used in financing activities		59,979			1,091
Effect of exchange rate changes on cash and cash equivalents		1,615			(1,717	)
(DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS		(5,146	)		(29,384	)
Cash and cash equivalents at beginning of year		31,112			58,653
CASH AND CASH EQUIVALENTS AT END OF PERIOD	$	25,966		$	29,269

CIRCOR INTERNATIONAL, INC.

CONSOLIDATED BALANCE SHEETS

(in thousands, except share data)

UNAUDITED

	July 2, 2006		December 31, 2005
ASSETS
Current Assets:
Cash and cash equivalents	$	25,966	$	31,112
Investments		2,639		86
Trade accounts receivable, less allowance for doubtful accounts of $2,293 and $1,943, respectively		97,327		77,731
Inventories		144,043		107,687
Prepaid expenses and other current assets		6,454		3,705
Deferred income taxes		4,100		4,328
Assets held for sale		3,166		1,115
Total Current Assets		283,695		225,764
Property, Plant and Equipment, net		71,306		63,350
Other Assets:
Goodwill		169,359		140,179
Intangibles, net		36,859		20,941
Other assets		18,437		10,146
Total Assets	$	579,656	$	460,380
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current Liabilities:
Accounts payable	$	70,813	$	49,736
Accrued expenses and other current liabilities		37,498		26,031
Accrued compensation and benefits		12,944		14,509
Income taxes payable		2,614		3,418
Notes payable and current portion of long-term debt		23,371		27,213
Total Current Liabilities		147,240		120,907
Long-Term Debt, net of current portion		69,570		6,278
Deferred Income Taxes		15,295		11,237
Other Non-Current Liabilities		14,073		11,235
Shareholders’ Equity:
Preferred stock, $.01 par value; 1,000,000 shares authorized; no shares issued and outstanding		—		—
Common stock, $.01 par value; 29,000,000 shares authorized; and 15,997,494 and 15,823,529 issued and outstanding, respectively		160		158
Additional paid-in capital		219,361		215,274
Retained earnings		92,745		82,318
Accumulated other comprehensive income		21,212		12,973
Total Shareholders’ Equity		333,478		310,723
Total Liabilities and Shareholders’ Equity	$	579,656	$	460,380

CIRCOR INTERNATIONAL, INC.

SUMMARY OF ORDERS AND BACKLOG

(in thousands)

UNAUDITED

	Three Months Ended				Six Months Ended
	July 2, 2006		July 3, 2005		July 2, 2006		July 3, 2005
ORDERS
Instrumentation & Thermal Fluid Controls	$	82,707	$	62,087	$	169,971	$	128,521
Energy Products		113,440		42,188		229,419		87,713
Total orders	$	196,147	$	104,275	$	399,390	$	216,234

	July 2, 2006		December 31, 2005
BACKLOG
Instrumentation & Thermal Fluid Controls	$	113,972	$	84,019
Energy Products		179,126		58,137
Total backlog	$	293,098	$	142,156

Note: Backlog includes all unshipped customer orders.

CIRCOR INTERNATIONAL, INC.

SUMMARY REPORT BY SEGMENT

(in thousands, except earnings per share)

UNAUDITED

	2005															2006
	1ST QTR			2ND QTR			3RD QTR			4TH QTR			YTD			1ST QTR			2ND QTR			YTD
NET REVENUES
Instrumentation & Thermal Fluid Controls (TFC)	$	61,025		$	62,908		$	59,031		$	68,312		$	251,276		$	72,434		$	79,470		$	151,904
Energy Products		41,213			55,749			50,191			52,102			199,255			54,861			64,919			119,780
Total		102,238			118,657			109,222			120,414			450,531			127,295			144,389			271,684
OPERATING MARGIN
Instrumentation & TFC		14.8	%		12.1	%		9.4	%		9.5	%		11.4	%		9.1	%		8.6	%		8.9	%
Energy Products		8.0	%		10.7	%		11.3	%		9.5	%		10.0	%		10.4	%		11.4	%		11.0	%
Segment operating margin		12.0	%		11.5	%		10.3	%		9.5	%		10.8	%		9.7	%		9.9	%		9.8	%
Corporate expenses		-3.4	%		-2.6	%		-3.3	%		-3.2	%		-3.1	%		-3.0	%		-2.5	%		-2.7	%
Special charges		-0.3	%		-0.1	%		-0.5	%		-0.6	%		-0.4	%		0.0	%		0.0	%		0.0	%
Total operating margin		8.4	%		8.7	%		6.6	%		5.8	%		7.3	%		6.7	%		7.4	%		7.1	%
OPERATING INCOME
Instrumentation & TFC (excl. special & unusual charges)		9,004			7,641			5,532			6,517			28,694			6,595			6,861			13,456
Energy Products (excl. special & unusual charges)		3,290			5,957			5,680			4,932			19,859			5,702			7,429			13,131
Segment operating income (excl. special & unusual charges) 12,294		13,598			11,212			11,449			48,553			12,297			14,290			26,587
Corporate expenses		(3,443	)		(3,105	)		(3,553	)		(3,817	)		(13,918	)		(3,809	)		(3,578	)		(7,387	)
Special charges		(305	)		(133	)		(496	)		(696	)		(1,630	)		—						—
Total operating income		8,546			10,360			7,163			6,936			33,005			8,488			10,712			19,200
INTEREST EXPENSE, NET		(787	)		(667	)		(728	)		(628	)		(2,810	)		(1,024	)		(1,464	)		(2,488	)
OTHER (EXPENSE) INCOME, NET		181			(204	)		(174	)		53			(144	)		131			248			379
PRETAX INCOME		7,940			9,489			6,261			6,361			30,051			7,595			9,496			17,091
PROVISION FOR INCOME TAXES		(2,779	)		(3,321	)		(1,955	)		(1,613	)		(9,668	)		(2,431	)		(3,038	)		(5,469	)
EFFECTIVE TAX RATE		35.0	%		35.0	%		31.2	%		25.4	%		32.2	%		32.0	%		32.0	%		32.0	%
NET INCOME	$	5,161		$	6,168		$	4,306		$	4,748		$	20,383		$	5,164		$	6,458		$	11,622
Weighted Average Common Shares Outstanding (Diluted)		16,054			16,171			16,228			16,172			16,019			16,197			16,332			16,266
EARNINGS PER COMMON SHARE (Diluted)	$	0.32		$	0.38		$	0.27		$	0.29		$	1.27		$	0.32		$	0.40		$	0.71
EARNINGS PER COMMON SHARE (Diluted)excluding special charges	$	0.33		$	0.39		$	0.29		$	0.33		$	1.34		$	0.32		$	0.40		$	0.71
EBIT	$	8,727		$	10,156		$	6,989		$	6,989		$	32,861		$	8,619		$	10,960		$	19,579
Depreciation		2,597			2,586			2,450			2,192			9,825			2,619			3,169			5,788
Amortization of intangibles		38			227			65			258			588			515			567			1,082
EBITDA	$	11,362		$	12,969		$	9,504		$	9,439		$	43,274		$	11,753		$	14,696		$	26,449
EBITDA AS A PERCENT OF SALES		11.1	%		10.9	%		8.7	%		7.8	%		9.6	%		9.2	%		10.2	%		9.7	%
CAPITAL EXPENDITURES	$	3,668		$	3,136		$	4,649		$	3,568		$	15,021		$	1,578		$	1,742		$	3,320

CIRCOR INTERNATIONAL, INC.

RECONCILIATION OF KEY PERFORMANCE MEASURES TO COMMONLY USED

GENERALLY ACCEPTED ACCOUNTING PRINCIPLE TERMS

(in thousands)

UNAUDITED

	2005															2006
	1ST QTR			2ND QTR			3RD QTR			4TH QTR			YTD			1ST QTR			2ND QTR			YTD
FREE CASH FLOW [NET CASH FLOW FROM OPERATING ACTIVITIES LESS CAPITAL EXPENDITURES LESS DIVIDENDS PAID]	$	(412	)	$	12,565		$	5,307		$	10,487		$	27,947		$	(5,213	)	$	402		$	(4,811	)
ADD: Capital expenditures		3,668			3,136			4,649			3,568			15,021			1,578			1,742			3,320
Dividends paid		586			589			590			593			2,358			595			600			1,195
NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES	$	3,842		$	16,290		$	10,546		$	14,648		$	45,326		$	(3,040	)	$	2,744		$	(296	)
NET (CASH) DEBT [TOTAL DEBT LESS CASH AND CASH EQUIVALENTS LESS INVESTMENTS]	$	15,367		$	10,371		$	2,054		$	2,293		$	2,293		$	68,271		$	64,336		$	64,336
ADD: Cash and cash equivalents		24,942			29,269			39,154			31,112			31,112			27,069			25,966			25,966
Investments		4,117			4,026			4,308			86			86			—			2,639			2,639
TOTAL DEBT	$	44,426		$	43,666		$	45,516		$	33,491		$	33,491		$	95,340		$	92,941		$	92,941
NET DEBT AS % OF NET CAPITALIZATION		4.9	%		3.3	%		0.7	%		0.7	%		0.7	%		17.7	%		16.2	%		16.2	%
NET CAPITALIZATION [TOTAL DEBT PLUS SHAREHOLDERS’ EQUITY LESS CASH AND CASH EQUIVALENTS, LESS INVESTMENTS]	$	313,378		$	310,514		$	309,763		$	313,016		$	313,016		$	385,659		$	397,814		$	397,814
LESS: Total debt		(44,426	)		(43,666	)		(45,516	)		(33,491	)		(33,491	)		(95,340	)		(92,941	)		(92,941	)
ADD: Cash and cash equivalents		24,942			29,269			39,154			31,112			31,112			27,069			25,966			25,966
Investments		4,117			4,026			4,308			86			86			—			2,639			2,639
TOTAL SHAREHOLDERS’ EQUITY		298,011			300,143			307,709			310,723			310,723			317,388			333,478			333,478
ADD: Total debt		44,426			43,666			45,516			33,491			33,491			95,340			92,941			92,941
TOTAL CAPITAL	$	342,437		$	343,809		$	353,225		$	344,214		$	344,214		$	412,728		$	426,419		$	426,419
TOTAL DEBT / TOTAL CAPITAL		13.0	%		12.7	%		12.9	%		9.7	%		9.7	%		23.1	%		21.8	%		21.8	%
EBIT [NET INCOME LESS INTEREST EXPENSE, NET]	$	8,727		$	10,156		$	6,989		$	6,989		$	32,861		$	8,619		$	10,960		$	19,579
LESS: Interest expense, net		(787	)		(667	)		(728	)		(628	)		(2,810	)		(1,024	)		(1,464	)		(2,488	)
Provision for income taxes		(2,779	)		(3,321	)		(1,955	)		(1,613	)		(9,668	)		(2,431	)		(3,038	)		(5,469	)
NET INCOME	$	5,161		$	6,168		$	4,306		$	4,748		$	20,383		$	5,164		$	6,458		$	11,622
EBITDA [NET INCOME LESS INTEREST EXPENSE, NET LESS DEPRECIATION LESS AMORTIZATION LESS TAXES]	$	11,362		$	12,969		$	9,504		$	9,439		$	43,274		$	11,753		$	14,696		$	26,449
LESS:
Interest expense, net		(787	)		(667	)		(728	)		(628	)		(2,810	)		(1,024	)		(1,464	)		(2,488	)
Depreciation		(2,597	)		(2,586	)		(2,450	)		(2,192	)		(9,825	)		(2,619	)		(3,169	)		(5,788	)
Amortization of intangibles		(38	)		(227	)		(65	)		(258	)		(588	)		(515	)		(567	)		(1,082	)
Provision for income taxes		(2,779	)		(3,321	)		(1,955	)		(1,613	)		(9,668	)		(2,431	)		(3,038	)		(5,469	)
NET INCOME	$	5,161		$	6,168		$	4,306		$	4,748		$	20,383		$	5,164		$	6,458		$	11,622
INCOME EXCLUDING SPECIAL CHARGES [NET INCOME LESS SPECIAL CHARGES, NET OF TAX]	$	5,359		$	6,254		$	4,647		$	5,268		$	21,489		$	5,164		$	6,458		$	11,622
LESS: Special charges, net of tax		(198	)		(86	)		(341	)		(520	)		(1,106	)		—			—			—
NET INCOME	$	5,161		$	6,168		$	4,306		$	4,748		$	20,383		$	5,164		$	6,458		$	11,622
Weighted average common shares outstanding (diluted)		16,054			16,171			16,228			16,172			16,019			16,197			16,332			16,266
EARNINGS PER SHARE EXCLUDING SPECIAL CHARGES	$	0.33		$	0.39		$	0.29		$	0.33		$	1.34		$	0.32		$	0.40		$	0.71