Roper Industries Q4 Profit Rises As Sales Climb 10% - Update

(RTTNews) - Industrial solutions provider Roper Industries Inc. (ROP) Monday said profit for the fourth quarter increased from the prior year, supported by a 10 percent growth in revenues. The company expects first-quarter as well as fiscal year earnings below Street view.

Net earnings increased to $165.70 million or $1.65 per share from $143.53 million or $1.44 per share in the same quarter last year.

On average, 11 analysts polled by Thomson Reuters expected the company to report earnings of $1.60 per share for the quarter. Analysts' estimates typically exclude special items.

Net sales grew to $889.17 million from $809.91 million in the prior year quarter. Analysts had a consensus revenue estimate of $881.37 million for the quarter.

Orders for the quarter increased 16 percent to $900 million, including organic growth of 10 percent.

Brian Jellison, Roper's CEO said, ''We are very pleased with our fourth-quarter performance, with record orders, revenue, margin and cash flow. Gross margin in the quarter was 60.0% and EBITDA reached $307 million, or 34.5% of revenue. Our asset-light businesses in favorable niche markets continue to deliver exceptional results.''

Segment-wise, Industrial Technology sales grew marginally to $199.1 million while Energy Systems & Controls generated $195.89 million in the quarter, up 6 percent from last year. Medical & Scientific Imaging revenues jumped 18 percent to $256.54 million. RF Technology revenues totaled $237.64 million, a growth of 13 percent from the prior-year period. The company expects first-quarter earnings per share of $1.30 to $1.35 first quarter. Analysts project first-quarter earnings of $1.38 per share.

The company expects 2014 full year earnings per share to be in the range of $6.05 and $6.25. Analysts anticipate annual earnings per share of $6.28.

ROP closed down 2.4 percent on Friday at $135.67.