(RTTNews) - Diversified industrial firm Roper Industries, Inc. (ROP: News ) Monday reported a sharp decline in net profit for the third quarter, hurt by lower orders across all business segments. The company also lowered its earnings guidance for full year 2009.

For the third quarter, Sarasota, Florida-based Roper's net earnings dropped to $56.41 million or $0.61 per share from $74.03 million or $0.79 per share in the prior-year quarter. Excluding restructuring costs, the quarter's net income was $58 million or $0.63 per share.

On an average, 14 analysts polled by Thomson Reuters expected the company to earn $0.64 per share for the quarter. Analysts' estimates typically exclude special items.

Net sales for the three-month period plummeted to $485.68 million from $593.10 million in the third quarter of fiscal 2008. The company attributed the decline partially to shifting of certain orders to the fourth quarter of the year. Analysts anticipated Roper to generate revenues of $513.48 million in the quarter.

On a segmental basis, sales from industrial technology was $130.54 million compared to $169.07 million, sales from energy systems and controls fell to $102.99 million from $137.54 million, sales from scientific and industrial imaging segment was $78.93 million versus $94.61 million, and RF technology sales decreased to $173.22 million from $191.89 million a year ago.

Roper's net orders for the period slipped to $498.94 million from $580.62 million in the 2008-year period. During the quarter, selling, general and administrative expenses incurred by the company were $153.65 million compared with $176.46 million in the previous-year quarter.
For the nine-month period, the company's net income slumped to $167.56 million or $1.81 per share from $211.00 million or $2.24 per share in the comparable period prior year. Year-to-date net sales was $1.50 billion versus $1.73 billion last year. Net orders for the period fell to $1.46 billion from $1.75 billion in the year-ago period.

In the preceding quarter, Roper had reported a net profit of $59.6 million or $0.64 per share as against $74.52 million or $0.79 per share in the second quarter of fiscal 2008. Sales for the second quarter had declined to $504.91 million from $594.41 million in the same quarter last year.

Chairman, president and chief executive officer Brian Jellison said today, "More than half our businesses experienced greater than 10% growth in orders over the second quarter, and this improvement in order momentum is expected to continue in the fourth quarter."

To receive FREE breaking news email alerts for Roper Industries and others in your portfolio

 1   2   Next Page