Gardner Denver (NYSE:GDI) results for the company's Q1 have been unveiled. For the quarter, revenue was $514 million, a 15% drop from the $604 million in the same period the previous year. Net income saw a steeper decline over that time frame, by 17%, to $46 million ($0.93 per diluted share) from Q1 2012's $55 million ($1.08).

On an adjusted basis, those EPS numbers were $1.06 for the latest quarter, and $1.40 in the year-ago period. The former exceeded the company's guidance of $0.94-$1.04.

As for forward guidance, Gardner Denver reaffirmed its existing projections. The company anticipates diluted, non-adjusted EPS of $1.05-$1.15 for its current Q2, and $4.18-$4.38 for the entirety of this fiscal year.