Posted July 26, 2010
Dover Corp. sales up 29 percent
Dover Corporation announced second-quarter earnings of $171.9 million, or 91 cents diluted earnings per share, compared to $100.9 million, or 54 cents per share, in the prior year period.
Revenue was $1.8 billion, an increase of 29% over the prior-year period. The revenue increase was driven by organic growth of 24%, a 4% increase from acquisitions, and a 1% favorable impact from foreign exchange.
"I am pleased with our strong second quarter performance. Revenue growth of 29% was higher than our expectations entering the quarter and was broad-based, with Electronic Technologies, Fluid Management, Refrigeration Equipment and Product ID leading the way," said president and CEO Robert A. Livingston.
Headquartered in Downers Grove, Ill., Dover Corp. is a multi-billion dollar, global producer of equipment, specialty systems and value-added services for the industrial products, fluid management, engineered systems and electronic technology markets.
