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Roper Industries posts 31% Q3 profit growth

Published: 13:38 24 Oct 2011 BST

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Roper Industries (NYSE:ROP), maker of medical and scientific imaging devices, said Monday that third-quarter profits were boosted 31 percent, driven by organic growth and higher margins.

For the three months that ended September 30, Roper posted total sales of $712.7 million, up 18 percent from $605 million seen a year ago.

Net income rose to $110.2 million, or $1.12 per share, compared with $84.2 million, or 87 cents per share, a year earlier.

Analysts, on average, had expected earnings of $1.07 on revenues of $719 million, according to Bloomberg.

"We are pleased to once again deliver record results in the quarter,” Roper’s chief executive, Brian Jellison, said in a statement.

"We delivered organic sales growth of 13 percent with strength throughout the enterprise. This strong growth combined with outstanding operating performance drove substantial margin expansion in the quarter."

Orders for the period came in at a record $718.6 million, while operating profit logged in at $167 million.

Indeed, operating margin – a ratio used to measure a company’s pricing strategy and operating efficiency – expanded 230 basis points to 23.5 percent of sales. Gross margin edged up to 53.7 percent from 53.2 percent a year earlier.

Roper said that it continues to see favourable trends in its businesses as it enters “the fourth-quarter with a record $876 million in backlog as bookings exceeded revenue for the 9th consecutive quarter,” Jellison said.

Looking ahead, the company raised its full-year earnings forecast to $4.29 to $4.33 a share. Analyst consensus estimates expect $4.25 a share.

For the fourth-quarter, Roper expects earnings of $1.18 to $1.22 a share. Analysts forecast Roper to earn $1.21 a share. The company’s projections exclude any future acquisitions, it said.

Roper Industries, headquartered in Sarasota, Florida, provides engineered products and solutions for global niche markets, including: water, energy, transportation, medical, educational and software on demand information networks.

Shares of Roper closed Friday at $77.69, but its stock was inactive during pre-market trade.

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