SARASOTA, Fla., Oct. 25 /PRNewswire-FirstCall/ — Roper
Industries, Inc. (NYSE:
ROP) reported record results for its third quarter ended
September 30, 2010.
Net earnings for the third quarter were $84 million, a 49%
increase over the third quarter of 2009, and diluted earnings per
share (DEPS) were $0.87 compared to $0.61 in the prior year third
quarter. Orders increased 31% to $654 million and sales increased
25% to $605 million, representing a 1.08 book-to-bill ratio.
Operating Cash Flow was a record $139 million.
Free cash flow represented 21.9% of sales and 158% of net
earnings. Third quarter gross margin expanded 260 basis
points to 53.2% and operating margin increased 230 basis points to
21.2%. EBITDA grew to $163 million, or 27.0% of sales.
“Roper performed exceptionally well in the third
quarter,” said Brian Jellison, Roper’s Chairman,
President and CEO. “We achieved record levels in
orders, sales, net earnings, DEPS, EBITDA and cash flow. Our
continued growth in orders and backlog gives us confidence that we
will finish 2010 with record performance and enter 2011 with
Third quarter results include the acquisition of iTradeNetwork
which was completed on July 27, 2010. “Our integration
and international market development with iTradeNetwork is off to a
good start, and we are excited about the growth prospects we see in
all of our software businesses,” said Mr. Jellison.
“We saw substantial order growth in our businesses, led
by Medical & Imaging (+81%), Industrial Technology (+35%) and
Energy Systems & Controls (+29%). Our backlog finished
the third quarter at a record $770 million, up 39% from the prior
Fourth Quarter and Full Year GuidanceRoper is increasing its