UPDATE: Roper Industries Posts Upbeat Q3 Earnings

Roper Industries

reported stronger-than-expected earnings for the third quarter. The Sarasota, Florida-based company posted a quarterly net profit of $155.5 million, or $1.54 per share, compared to $136.3 million, or $1.36 per share, in the year-ago period. Excluding non-recurring costs, the company earned $1.55 per share. Its revenue gained 7% to $884.1 million. However, analysts were estimating earnings of $1.53 per share on revenue of $887.75 million. GAAP gross margin rose 100 basis points to 59.3%, while adjusted gross margin widened to 59.4%. "Our businesses continue to perform exceptionally well," said Brian Jellison, Roper's Chairman, President and CEO. "Revenue growth in the quarter was broad-based, with organic increases in each segment. We are encouraged by the continued strength in orders, which exceeded revenue in all four segments. We delivered free cash flow of $217 million, representing 24.5% of revenue." For the current quarter, Roper projects earnings of $1.75 to $1.81 per share, versus analysts' estimates of $1.77 per share. For the full year, the company now projects earnings of $6.32 to $6.38 per share, versus earlier forecast of $6.27 to $6.37 per share. Roper shares gained 0.43% to close at $151.18 on Friday.