Crane NXT Co, a maker of products including ones for the gaming sector, reported net sales of US$330.3 million for the first quarter of 2025, up 5.3 percent from the prior-year period. The latest figure compared with sales of US$399.1 million in the preceding quarter.
The company posted net income attributable to common shareholders of US$21.7 million for the three months to March 31, down from US$37.8 million a year earlier, the firm said in a Wednesday announcement.
Crane NXT announced its quarterly dividend of US$0.17 per share for the second quarter of 2025, payable on June 11.
First-quarter operating profit for the firm was US$37.3 million, down 32.7 percent from a year ago.
The company said its first-quarter revenue was “driven by US$33.4 million, or 10.6-percent sales benefit” resulting from the US$270-million acquisition in May last year of OpSec Security Group Ltd, a provider of brand protection and authentication services.
Such sales were “partially offset” by a US$12.9 million, or 4.1 percent, decline in core sales, stated the company.
The decrease in sales was recorded “primarily in the currency business, as higher sales in international markets were more than offset by lower U.S. government sales related to the planned shutdown of key papermaking equipment in preparation for the new U.S. banknote series,” explained the firm.
The group’s Crane Payment Innovations (CPI) business recorded net sales of US$202.9 million in the three months to March 31, down 2.9 percent year-on-year. The segment’s operating profit fell by 5.7 percent, to US$49.7 million.
“Our first quarter results were in line with our expectations as we completed the final equipment upgrades needed to prepare for the decade-long growth opportunity from the new U.S. banknote series,” stated Aaron Saak, Crane NXT’s president and chief executive, in prepared remarks.
“While the market remains dynamic, our businesses continue to demonstrate resilience, and we are well-positioned to mitigate the impact of tariffs through pricing, supply chain management and productivity initiatives driven by the Crane Business System,” he added.
Crane NXT said last week that it had completed the acquisition of De La Rue Authentication Solutions, a supplier of security and authentication technologies, for a total consideration of GBP300 million (US$399.4 million currently) in cash.
In Wednesday’s announcement, Crane NXT increased its full-year 2025 sales growth guidance to a range of 6 percent to 8 percent, following the completion of the De La Rue Authentication acquisition.
Mr Saak said in his remarks: “With the acquisition of De La Rue Authentication now complete, we have further solidified our position as a trusted technology leader in the global authentication market. We are confident in our ability to continue diversifying and expanding our portfolio of leading technology solutions, delivering long-term value creation for our shareholders.”
For full-year 2024, Crane NXT reported net sales of just under US$1.49 billion, a 6.9-percent increase from the prior year. Net income last year stood at US$184.1 million, down from US$188.3 million in full-year 2023.
