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Roper Industries Announces Record Fourth Quarter and Full Year Results

SARASOTA, Fla. Jan. 31, 2011 Roper Industries, Inc. December 31, 2010

Fourth Quarter 2010

$107 million $1.10 $679 million $166 million $155 million

$200 million Brian Jellison

Full Year 2010

$323 million $2.4 billion $514 million $638 million

$500 million

2011 Outlook and Guidance

$3.82 and $4.02 $550 million $0.83 and $0.87

$785 million

Table 1:  Sales Growth

Q4 2010

Organic Growth

15%

Acquisitions / Divestitures

9%

Foreign Currency

(1%)

Total Sales Growth

23%

Table 2:  EBITDA and EBITDA Margins

Q4 2010

FY 2010

Net Earnings

$107.3

$322.6

Add:  Interest Expense

16.9

66.5

Add:  Income Taxes

41.1

125.8

Add:  Depreciation & Amortization

34.3

123.0

Rounding

0.1

EBITDA (A)

$199.7

$637.9

Revenue (B)

$679.5

$2,386.1

EBITDA Margin (A)/(B)

29.4%

26.7%

8:30 AM (ET)

8:30 AM ET Monday, January 31, 2011 Canada www.roperind.com

About Roper Industries

www.roperind.com

The information provided in this press release contains forward looking statements within the meaning of the federal securities laws. These forward looking statements include, among others, statements regarding operating results, the success of our internal operating plans, and the prospects for newly acquired businesses to be integrated and contribute to future growth and profit expectations.  Forward looking statements may be indicated by words or phrases such as "anticipate," "estimate," "plans," "expects," "projects," "should," "will," "believes" or "intends" and similar words and phrases.  These statements reflect management’s current beliefs and are not guarantees of future performance.  They involve risks and uncertainties that could cause actual results to differ materially from those contained in any forward looking statement. Such risks and uncertainties include our ability to integrate our acquisitions and realize expected synergies.  We also face other general risks, including our ability to realize cost savings from our operating initiatives, general economic conditions, unfavorable changes in foreign exchange rates, difficulties associated with exports, risks associated with our international operations, difficulties in making and integrating acquisitions, risks associated with newly acquired businesses, increased product liability and insurance costs, increased warranty exposure, future competition, changes in the supply of, or price for, parts and components, environmental compliance costs and liabilities, risks and cost associated with asbestos related litigation and potential write-offs of our substantial intangible assets, and risks associated with obtaining governmental approvals and maintaining regulatory compliance for new and existing products.  Important risks may be discussed in current and subsequent filings with the SEC.  You should not place undue reliance on any forward looking statements.  These statements speak only as of the date they are made, and we undertake no obligation to update publicly any of them in light of new information or future events.

Roper Industries, Inc. and Subsidiaries

Condensed Consolidated Balance Sheets (unaudited)

(Amounts in thousands)

December 31,

December 31,

ASSETS

2010

2009

CURRENT ASSETS:

 Cash and cash equivalents

$      270,394

$      167,708

 Accounts receivable

403,337

381,658

 Inventories

178,559

178,795

 Deferred taxes

32,894

27,306

 Unbilled receivable

75,620

57,153

 Other current assets

37,287

58,125

   Total current assets

998,091

870,745

PROPERTY, PLANT AND EQUIPMENT, NET

103,487

109,493

OTHER ASSETS:

 Goodwill

2,727,780

2,388,432

 Other intangible assets, net

1,104,513

868,900

 Deferred taxes

57,850

33,123

 Other assets

77,803

57,043

   Total other assets

3,967,946

3,347,498

TOTAL ASSETS

$   5,069,524

$   4,327,736

LIABILITIES AND STOCKHOLDERS’ EQUITY

CURRENT LIABILITIES:

 Accounts payable

$      137,778

$      110,103

 Accrued liabilities

298,080

253,441

 Income taxes payable

 Deferred taxes

10,445

1,671

 Current portion of long-term debt

93,342

112,796

   Total current liabilities

539,645

478,011

NONCURRENT LIABILITIES:

 Long-term debt

1,247,703

1,040,962

 Deferred taxes

465,001

328,299

 Other liabilities

66,268

58,974

   Total liabilities

2,318,617

1,906,246

STOCKHOLDERS’ EQUITY:

 Common stock

971

958

 Additional paid-in capital

1,045,286

982,321

 Retained earnings

1,680,849

1,395,586

 Accumulated other comprehensive earnings

43,978

63,945

 Treasury stock

(20,177)

(21,320)

   Total stockholders’ equity

2,750,907

2,421,490

TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY

$   5,069,524

$   4,327,736

Roper Industries, Inc. and Subsidiaries

Condensed Consolidated Statements of Earnings (unaudited)

(Amounts in thousands, except per share data)

Three months ended

Twelve months ended

December 31,

December 31,

2010

2009

2010

2009

Net sales

$679,479

$553,638

$2,386,112

$2,049,668

Cost of sales

307,614

262,226

1,110,986

1,006,530

Gross profit

371,865

291,412

1,275,126

1,043,138

Selling, general and administrative expenses

205,707

170,644

760,832

647,742

Income from operations

166,158

120,768

514,294

395,396

Interest expense

16,925

16,836

66,533

58,544

Other income (expense)

(788)

(1)

633

2,916

Earnings from continuing operations before

  income taxes

148,445

103,931

448,394

339,768

Income taxes

41,134

32,007

125,814

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