Roper Industries Announces Results For 2009 Fourth Quarter and Full Year
finance.yahoo.com
Fourth Quarter Net Earnings Per Diluted Share of $0.77
Orders Increase Over Prior Year Period
Fourth Quarter Operating Cash Flow of $120 Million
Full Year Operating Cash Flow of $368 Million
For the full year, net earnings were $239 million, or $2.58 per diluted share, including $0.12 of restructuring and acquisition charges. Sales for the year were $2.05 billion, down 11% from the prior year. Operating cash flow was $368 million, representing 18% of revenue and 153% of net earnings.
"Our businesses performed very well during the fourth quarter, as we saw continued improvement in order trends across all segments," said Brian Jellison, Roper's Chairman, President and CEO. "Margins expanded as a result of strong execution, favorable leverage on increased sales compared to the third quarter, and the benefits of prior restructuring actions. Our consistent focus on cash flow and working capital management resulted in exceptional cash performance for 2009, the twelfth consecutive year that free cash flow exceeded net income."
"We invested over $350 million in two acquisitions during the quarter," continued Mr. Jellison. "Verathon, a leading global provider of proprietary medical devices and services, expands our medical platform and provides global coverage to hospitals, primary care physicians, acute care and military end markets with direct sales coverage. United Toll Systems, which provides software and in-lane hardware systems for toll and traffic markets, adds to our RF solutions for the toll industry. We are excited about the contribution of these businesses to our growth in 2010 and expect to pursue other strategic acquisitions during the year." |
