Roper Industries, Inc. Announces First Quarter 2001 Results and Conference Presentation
BOGART, Ga., Feb. 26 /PRNewswire/ -- Roper Industries, Inc. (NYSE: ROP)
announced earnings for the quarter ended January 31, 2001 of $.38 per share (diluted), a 23% increase over the first quarter of 2000.
First Quarter Highlights:
* Earnings per share of $.38, up 23% year-over-year
* Net sales up 26% year-over-year
* Net bookings up 35% year-over-year
* Backlog up 43% to $126 million
* Earnings per share before goodwill amortization up 25% to $.48
* EBITDA per share of $.92 up 32% year-over-year
* Cash flow from operations up 186% to $25 million
The Fluid Handling segment's net sales were $33 million in the quarter, up
41% over the prior year, mostly due to acquisitions. Positive displacement pump sales were up 52%, but were down 1% pro forma, with weaker power generation sales offsetting strength in the oil and gas market. Flow meter sales increased 7% pro forma, metering pump sales were up 12% and centrifugal pump sales were up 19% in the quarter.
Bookings for Fluid Handling were up 30% over the prior year to $33 million, but on a pro forma basis bookings declined by 2%.
Pro forma flow meter bookings were down 14% in the quarter, while positive displacement pump orders declined 18% on a pro forma basis. Metering pump bookings were up 10% in the quarter. Centrifugal pump bookings were up 28% on higher municipal and industrial orders. Operating profits increased 21% year-over-year to $8 million in the quarter.
Mr. Derrick N. Key, Chairman, President and CEO stated "We are off to a good start for 2001. We have seen a healthy increase in our backlog, we continue to see respectable order levels, and our cash flow incentive program appears to be producing robust results.
We also plan to have our new management structure in place by April 1, 2001.
As we previously announced, we are significantly increasing our Corporate
Development Group capabilities, by adding a seasoned Vice President of
Corporate Development along with two staff to ensure that we will be able to
invest, in a highly disciplined manner, the $450 million we project to have
available for acquisitions over the next three years."
The Company also announced that it will be presenting at the Salomon Smith
Barney Industrial Manufacturing Conference at the Grand Hyatt, New York on Thursday, March 1, 2001. A copy of the presentation is available at the Company's website at
Source: Roper Technologies, Inc