BURLINGTON, Mass.--(BUSINESS WIRE)--CIRCOR International, Inc. (NYSE: CIR), a leading provider of severe service flow control solutions and other highly engineered products for markets including industrial, aerospace, defense, and energy, today announced that Chadi Chahine, Senior Vice President and Chief Financial Officer, plans to step down from CIRCOR effective March 2, 2020, in order to manage a family health matter. The Company has initiated a search process to identify a permanent CFO and has retained an executive search firm to assist with the process.

“On behalf of the Board of Directors and everyone at CIRCOR, I want to thank Chadi for his financial leadership and contributions to CIRCOR and for his willingness to continue through the 2019 year-end close to help ensure a seamless transition,” said Scott Buckhout, President & Chief Executive Officer of CIRCOR International. “We wish him and his family all the best.”

Mr. Chahine said, “It has been a privilege to work alongside the talented and dedicated team at CIRCOR and I appreciate the team’s understanding of my personal decision to step away. I have great confidence in CIRCOR’s path forward and with the strong finance team we have in place, I am confident this will be a smooth transition.”

Financial Outlook

CIRCOR today reaffirmed its financial outlook for the fourth quarter 2019. CIRCOR continues to expect revenues to be in the range of $235 million to $248 million, and GAAP earnings per share from continuing operations in the range of $0.03 to $0.19, which reflects acquisition-related amortization expense of $(0.49), and other special and restructuring charges of $(0.24) to $(0.20). Excluding the impact of amortization and special and restructuring (charges) gains, adjusted EPS is expected to be in the range of $0.76 to $0.88 per share. The revenue and adjusted EPS exclude the results from the Company’s Distributed Valves business, which will continue to be reported as discontinued operations until a sale is completed.

ABOUT CIRCOR INTERNATIONAL, INC.

CIRCOR International, Inc. designs, manufactures and markets highly engineered products and sub-systems for markets including Industrial, Aerospace & Defense and Energy. CIRCOR has a diversified product portfolio with recognized, market-leading brands that fulfill its customers’ unique application needs. For more information, visit the Company’s investor relations website at http://investors.circor.com, where we routinely post information that may be important to investors.