IDEX Corp. (IEX) reported that its fourth-quarter net income was $33.09 million or $0.40 per share, compared to $22.48 million or $0.27 per share in the same quarter last year.
Adjusted earnings per share were $0.43, up from $0.38 per share in the year ago quarter. Analysts polled by Thomson Reuters expected the company to report earnings of $0.37 per share for the quarter. Analysts' estimates typically exclude special items.
Net sales for the quarter were $343.34 million, compared to $355.31 million in the prior year quarter. Nine analysts had consensus revenue estimate of $325.45 million for the quarter.
For first quarter 2010, the company expects earnings per share to be in the range of $0.40 to $0.42. Analysts expect the company to report earnings of $0.39 per share.
For the full year 2010, the company expects organic revenue growth of approximately 2% - 4% resulting in EPS of $1.63 to $1.73. Organic growth higher than 4 percent will be dependent on the extent and sustainability of second half 2010 economic recovery. Analysts expect the company to report earnings of $1.68 per share for fiscal 2010.
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