Roper Industries Inc. (ROP) reported that its first-quarter net income increased to $124.91 million or $1.25 per share, from $108.31 million or $1.09 per share, last year. Adjusted net income for the quarter was $127.25 million or $1.27 per share for the quarter.
Net sales rose to $737.14 million from $711.07 million last year. Adjusted revenue, which excludes a fair value adjustment to acquired deferred revenue, was $741 million.
On average, ten analysts polled by Thomson Reuters expected the company to report profit of $1.22 per share for the quarter. Analysts' estimates typically exclude special items. Analysts expected revenue of $776.55 million for the quarter.
Roper increased its full year 2013 adjusted earnings per share guidance to $5.76-$5.94 from $5.60-$5.82. Analysts expect the company to report fiscal 2013 profit per share of $5.73.
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