Roper Industries Q2 Profit Rises, Lifts Full Year Outlook

(RTTNews) - Roper Industries, Inc. (ROP), a diversified technology company, Monday said second-quarter profit increased from the prior year, supported by growth in revenues. Citing the second-quarter performance, the company raised its full year earnings forecast.

Brian Jellison, Roper's Chairman, President and CEO, said, "Our businesses performed exceptionally well in the quarter, with record second quarter performance for orders, revenue, operating profit and EBITDA."

Net earnings advanced to $157.36 million from last year's $111.35 million. Earnings per share rose to $1.56 from $1.11. Adjusted earnings per share totaled $1.31 last year.

On average, 10 analysts polled by Thomson Reuters expected the company to report earnings of $1.50 per share for the quarter. Analysts' estimates typically exclude special items.

Net sales improved to $885.18 million from last year's $784.01 million. Wall Street expected revenues of $873.19 million for the quarter.

Orders increased 5 percent to $874 million. According to the company, its continued growth in high margin businesses led to exceptional margin performance. Gross margin was 59.1 percent compared to 56.8 percent last year.

Roper said it generated 8 percent organic growth in the quarter and all segments grew organically, led by double-digit growth in Medical and RF segments.

Medical & Scientific Imaging revenues climbed over 29 percent to $268.89 million while RF Technology revenues were $245.60 million, up 10 percent from the prior year.

Industrial Technology revenues grew to $204.81 million from $197.54 million, while Energy Systems & Controls revenues were $165.87 million compared to $155.33 million in the prior year.

Looking ahead, the company expects third-quarter earnings per share to be in the range of $1.49 - $1.53. Analysts project third-quarter earnings of $1.57 per share.

Citing the second-quarter performance, Roper lifted its full year earnings per share guidance to $6.27 - $6.37 from $6.22 - $6.36. Analysts project annual earnings per share of $6.30.

ROP closed down 0.1 percent on Friday at $142.76.