Roper Industries Q1 Profit Up, Lifts Full-year View - Update

(RTTNews) - Industrial solutions provider Roper Industries Inc. (ROP) Monday reported a higher first-quarter profit on 13 percent growth in revenues. The company also lifted its earnings per share outlook for full year 2014.

For the first quarter, the company's net earnings increased to $147.23 million or $1.46 per share from $124.91 million or $1.25 per share in the previous year.

On average, 10 analysts polled by Thomson Reuters expected the company to report earnings of $1.35 per share for the quarter. Analysts' estimates typically exclude special items.

Net sales grew 13 percent to $834.05 million from $737.14 million in the prior-year quarter. Analysts estimated revenues of $829.22 million for the quarter. Organic growth was 7 percent. All four operating segments increased organic revenue of at least 5 percent, the firm said.

Net orders totaled $846.48 million, up from $793.58 million last year.

Brian Jellison, chairman, president and CEO of the company said, "Our continued expansion into asset-light medical, technology and service businesses, combined with outstanding execution across the enterprise, resulted...we are encouraged about our prospects for the remainder of the year."

Looking ahead to the second quarter, the company expects earnings per share to be in the range of $1.46 to $1.51. Analysts project earnings of $1.46 per share for the quarter.

As a result of its first quarter performance, the company raised its full-year 2014 earnings guidance to a range of $6.22 to $6.36 per share from the prior estimate of $6.05 to $6.25 per share.

Analysts are looking for earnings of $6.20 per share for the year.

ROP closed Friday's regular trading at $129.30 on the NYSE.