Roper Reports Record Performance

22.11.2005

Roper Industries, Inc. reported record results for the third quarter ended September 30, 2005. The Company reported EBITDA of $89 million in its third quarter, 60% higher than the prior year comparable period, and EBITDA margins improved 110 basis points to 24.3%.

Roper generated $75 million of cash flow from operating activities in the quarter, 109% greater than in the prior year.

Diluted earnings per share (DEPS) were $0.45 in the quarter. DEPS performance and forecasts include the effect of a two-for-one split of the Company's common stock in the form of a 100% stock dividend that was distributed on August 26.

"During the quarter, we achieved record orders, sales, cash flow and profits," said Brian Jellison, Roper's Chairman, President and CEO. "Our recent acquisitions - TransCore, Inovonics and CIVCO - are performing well and meeting our expectations. Our businesses created 7% internal growth in sales and orders in the quarter. We converted over 40% of our third quarter internal sales growth into income from operations, demonstrating our commitment to profitable growth and continuous improvement."

Roper reported net sales of $365 million in the third quarter, 52% higher than the prior year period. These results reflect internal growth in most of the Company's businesses as well as significant contributions from acquired businesses, including the first full quarter of performance from CIVCO, a supplier of diagnostic and therapeutic disposable medical products. The Company booked orders of $408 million in the third quarter, an increase of 64%, with strong performance reported in the Company's newest segment, RF (radio frequency) Technology.

"In addition to another outstanding quarter with record results, year-to-date sales exceeded $1 billion for the first time in the Company's history with the fourth quarter yet to come," said Mr. Jellison. "Through the disciplined execution of our strategic growth program, we have positioned the enterprise in attractive markets with less cyclical risk, including RF, water, research/medical and after-market energy applications. With the excellent performance of our newest acquisitions, continued growth in our base businesses and operating margin improvement in all the businesses, we have raised our guidance for full year cash flow from operating activities by $15 million."

The Company raised its full year minimum guidance for cash flow from operating activities from $225 million to $240 million, and also raised its full year DEPS guidance from $1.60-$1.675 to $1.64-$1.70.

Roper Industries is a diversified industrial growth company with more than $1.4 billion of annualized revenues. Roper provides engineered products and solutions for global niche markets, including water, energy, radio frequency and research/medical applications.

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