UPDATE: Roper Industries Posts 22% Rise In Q1 Profit, Lifts Forecast
Roper Industries Inc (NYSE: ROP) reported a 22% rise in its first-quarter earnings.
Roper Industries lifted its full-year earnings forecast to $4.75 to $4.91 per share, versus its earlier view of $4.67 to $4.87 per share.
Roper's quarterly profit surged to $108.3 million, or $1.09 per share, versus $89 million, or $0.91 per share, in the year-ago period. The company in February expected earnings of $1.01 to $1.05 per share.
Its sales rose 10% to $711.1 million, versus analysts' estimates of $704 million. Its gross margin climbed to 55% from 54.3%.
Roper Industries shares closed at $98.14 on Friday.
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.