Dover Reports Third Quarter 2005 Results
Resource from: CBCC Likes:2942
Oct 21,2005
NEW YORK, Oct 20, 2005 /PRNewswire-FirstCall via COMTEX News Network/ -- Dover Corporation (NYSE: DOV) earned $132.6 million or $0.65 diluted earnings per share ("EPS") from continuing operations for the third quarter ended September 30, 2005, compared to $112.6 million or $0.55 EPS from continuing operations in the prior year, both of which represent an increase of 18%. Net income for the third quarter of 2005 was $122.7 million or $0.60 EPS, including a loss of $9.9 million or $0.05 EPS from discontinued operations, compared to $120.3 million or $0.59 EPS for the same period of 2004, which included income from discontinued operations of $7.6 million or $0.04 EPS. Revenue for the third quarter of 2005 was $1,562.8 million, an increase of 13% over the prior year period, and income and earnings per share from continuing operations were at their highest levels since the third quarter of 2000.
For the nine months ended September 30, 2005, Dover had revenue of $4,485.0 million and income from continuing operations of $350.9 million. For the nine months ended September 30, 2005, four businesses were classified as discontinued. The three businesses discontinued in the third quarter had revenue of $141.6 million and income of $3.2 million or $0.02 EPS, excluding gains on sale and write-offs. All continuing operations information has been restated to reflect the discontinuance of these companies.
The full text of the third quarter earnings release as well as additional information on Dover’s third quarter 2005 results and its operating companies can also be found on the company website at http://www.dovercorporation.com . Dover will host a Webcast of its third quarter 2005 conference call at 9:00 A.M. Eastern Time on Friday, October 21, 2005. The Webcast can be accessed at the Dover Corporation website at http://www.dovercorporation.com . The conference call will also be made available for replay on the website
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