Diversified global manufacturer Dover Corp. (DOV: Quote) reported that its second-quarter net earnings were $214.1 million or $1.15 per share, down from $249.8 million or $1.32 per share in the year ago quarter. Analysts polled by Thomson Reuters expected the company to report earnings of $1.13 per share for the quarter. Analysts' estimates typically exclude special items.
Revenues for the quarter rose to $2.16 billion from $1.99 billion in the prior year quarter. Eleven analysts had consensus revenue estimate of $2.19 billion for the quarter.
Looking forward, the company now expects full-year 2012 revenue growth of 8% - 10%, comprised of organic revenue growth of 3% - 5%, plus growth from completed acquisitions of 5%. While announcing the first-quarter result, the company had expected full year 2012 revenue growth of 10% - 12%, comprised of organic revenue growth of 5% - 7%, plus growth from completed acquisitions of 5%.
The company still expects full-year 2012 earnings per share from continuing operations in the range of $4.70 - $4.85.
Analysts expect the company to report earnings of $4.74 per share on revenues of $8.73 billion for fiscal 2012.
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by RTT Staff Writer
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