Exhibit 99.2

CRANE CO.

Income Statement Data

(in thousands, except per share data)

	Three Months Ended March 31,
	2005			2004
Net Sales:
Aerospace & Electronics	$	133,581		$	119,277
Engineered Materials		80,798			69,010
Merchandising Systems		43,753			39,450
Fluid Handling		228,552			203,888
Controls		20,516			16,753
Intersegment Elimination		(139	)		(72	)
Total Net Sales	$	507,061		$	448,306
Operating Profit:
Aerospace & Electronics	$	15,950		$	20,222
Engineered Materials		16,858			15,531
Merchandising Systems		3,781			474
Fluid Handling		12,424			8,727
Controls		1,759			889
Corporate		(8,922	)		(7,165	)
Total Operating Profit		41,850			38,678
Interest Income		341			222
Interest Expense		(5,720	)		(6,541	)
Miscellaneous - Net		282			(218	)
Income Before Income Taxes		36,753			32,141
Provision for Income Taxes		11,755			9,964
Net Income	$	24,998		$	22,177
Per Diluted Share Data:
Net Income	$	0.42		$	0.37
Average Diluted Shares Outstanding		60,070			60,418
Average Basic Shares Outstanding		59,455			59,544
Supplemental Data:
Cost of Sales	$	351,641		$	305,926
Selling, General & Administrative		113,570			103,702
Depreciation and Amortization *		15,297			13,798

* Amount included within cost of sales and selling, general & administrative costs.

CRANE CO.

Condensed Balance Sheets

(in thousands)

	March 31, 2005		December 31, 2004
ASSETS
Current Assets
Cash and Cash Equivalents	$	32,577	$	50,727
Accounts Receivable		320,283		308,140
Inventories		294,263		284,291
Other Current Assets		62,696		59,648
Total Current Assets		709,819		702,806
Property, Plant and Equipment		280,667		287,596
Insurance Receivable - Asbestos		241,833		245,160
Other Assets		299,799		301,865
Goodwill		575,767		579,081
Total Assets	$	2,107,885	$	2,116,508
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current Liabilities
Current Maturities of Long-Term Debt and Loans Payable	$	3,418	$	371
Accounts Payable		156,176		161,477
Current Asbestos Liability		67,800		67,800
Accrued Liabilities		150,756		157,730
Income Taxes		27,669		22,636
Total Current Liabilities		405,819		410,014
Long-Term Debt		292,033		296,592
Deferred Income Taxes		74,508		71,367
Long-Term Asbestos Liability		567,777		581,914
Pension, Postretirement and Other Liabilities		92,631		92,927
Common Shareholders’ Equity		675,117		663,694
Total Liabilities and Shareholders’ Equity	$	2,107,885	$	2,116,508

CRANE CO.

Condensed Statements of Cash Flows

(in thousands)

	Three Months Ended March 31,
	2005			2004
Operating Activities:
Net income	$	24,998		$	22,177
Income from joint venture		(1,198	)		(534	)
Depreciation and amortization		15,297			13,798
Cash used for operating working capital		(45,021	)		(29,474	)
Other		978			(2,673	)
Subtotal		(4,946	)		3,294
Payments for asbestos-related fees and costs, net		(10,824	)		(5,396	)
Refund associated with termination of the
Master Settlement Agreement		9,925			—
Total used for operating activities		(5,845	)		(2,102	)
Investing Activities:
Capital expenditures		(5,575	)		(5,144	)
Proceeds from disposition of capital assets		255			174
Payments for acquisitions, net		—			(50,630	)
Total used for investing activities		(5,320	)		(55,600	)
Financing Activities:
Dividends paid		(5,955	)		(5,953	)
Settlement of treasury shares acquired on the open market		—			(23,466	)
Stock options exercised - net of shares reacquired		1,761			6,542
Repayment of debt, net		(1,684	)		(22,743	)
Total used for financing activities		(5,878	)		(45,620	)
Effect of exchange rate on cash and cash equivalents		(1,107	)		(115	)
Decrease in cash and cash equivalents		(18,150	)		(103,437	)
Cash and cash equivalents at beginning of period		50,727			142,518
Cash and cash equivalents at end of period	$	32,577		$	39,081

CRANE CO.

Order Backlog

(in thousands)

	March 31, 2005		December 31, 2004		March 31, 2004
Aerospace & Electronics	$	367,472	$	341,505	$	319,954
Engineered Materials		19,414		16,376		17,564
Merchandising Systems		9,469		11,998		11,176
Fluid Handling		200,578		183,158		163,955
Controls		15,625		13,696		13,029
Total Backlog	$	612,558	$	566,733	$	525,678

CRANE CO.

Non-GAAP Financial Measures

(in thousands)

	Three Months Ended March 31,						Year Ended December 31,
	2005			2004			2005
							(Estimated Range)
Net Sales	$	507,061		$	448,306
Operating profit - as reported		41,850			38,678
Operating margin - as reported		8.3	%		8.6	%
Operating profit - as reported	$	41,850		$	38,678
Severance charges		4,800			2,500
Facilities rationalization charges		1,700			—
Electronics Group - provisions for contract losses		2,300			—
Operating profit - as adjusted		50,650			41,178
Operating margin - as adjusted		10.0	%		9.2	%
Cash (used for) provided from operating activities including asbestos-related payments	$	(5,845	)	$	(2,102	)	$	125,000		$	105,000
Net asbestos payments		10,824			5,396			50,000			70,000
Refund associated with termination of the Master Settlement Agreement		(9,925	)		—			—			—
Cash (used for) provided from operating activities before asbestos-related payments	$	(4,946	)	$	3,294		$	175,000		$	175,000
Capital expenditures		(5,575	)		(5,144	)		(25,000	)		(25,000	)
Free cash flow	$	(10,521	)	$	(1,850	)	$	150,000		$	150,000

Certain non-GAAP measures have been provided to facilitate comparisons with the prior year.

Free cash flow provides supplemental information to assist management and certain investors in analyzing the

Company’s ability to generate positive cash flow.

Free cash flow is considered a measure of cash generation and should be considered in addition to, but not as a substitute for, other measures reported in accordance with generally accepted accounting principles and may be inconsistent with similar measures presented by other companies.