Franklin Electric sales increase, earnings fall

Franklin Electric Co. Inc. on Tuesday reported third-quarter earnings of $16.7 million, or 37 cents per diluted common share, a 69% decrease from the $54.6 million, or $1.17 a share posted for the same three months a year ago.

The Fort Wayne-based maker of pumps that move water and fuel also reported net sales of $582 million, a 9% increase.

During the quarter ended Sept. 30, the global company ended its U.S. pension plan, which led to a pre-tax settlement charge of $55.3 million.

CEO Joe Ruzynski said in a statement that the sales figure reflects "solid growth across the business."

Zimmer Biomet wins rare FDA approval

Zimmer Biomet Holdings Inc. on Tuesday announced the U.S. Food and Drug Administration has granted Breakthrough Device

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