Roper Industries 3Q results miss Street's view
NEWS: Roper Industries' third-quarter net income rose 17 percent, as the industrial equipment maker benefited from an increase in orders. But its results fell short of analysts' estimates.
The company also lowered its full-year adjusted earnings forecast on Monday, anticipating slower-than-expected growth in energy and other select markets in the fourth quarter.
DETAILS: Orders climbed 18 percent to $846 million, with gains across all four of its businesses, industrial technology, energy systems and controls, medical and scientific imaging and RF technologies.
NUMBERS: For the period ended Sept. 30, Roper earned $136.3 million, or $1.36 per share. That's up from $116.7 million, or $1.17 per share, a year ago.
Removing an accounting adjustment, earnings were $1.42 per share.
Revenue climbed 11 percent to $827.8 million from $747.6 million.
Analysts, on average, expected earnings of $1.45 per share on revenue of $860.3 million, according to FactSet.
FUTURE: Roper Industries Inc. now expects full-year adjusted earnings of $5.57 to $5.63 per share, down from its prior forecast for $5.72 to $5.86 per share. Analysts predict earnings of $5.78 per share.
For the fourth quarter, the company anticipates adjusted earnings between $1.57 and $1.63 per share with revenue growth of 7 percent to 9 percent. Based on sales of $809.9 in the 2012 fourth quarter, that implies guidance for revenue between $866.6 million and $882.8 million.
Wall Street is looking for earnings of $1.74 per share, on revenue of $916.5 million.
STOCK: The shares closed at $133.04 on Friday. The stock is up 19 percent since the start of the year.