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ROP · Roper Technologies

50 filings

10-Q

ROP 10-Q Quarterly Reports

Roper Technologies - 50 quarterly reports

Filing record · 2016–202610-K1110-Q338-K114

ROP filed 11 annual reports (10-K), 33 quarterly reports (10-Q) and 114 current reports (8-K) between 2016 and 2026.

  1. FY2016 annual report10-K · Feb ’17Feb ’17
  2. Deal closed8-K · Aug ’19Aug ’19
  3. Leadership change8-K · Jun ’21Jun ’21
  4. Leadership change8-K · Apr ’25Apr ’25
  1. 2026-Q3

    Roper Technologies Quarterly Report for Q3 Ended Sep 30, 2026

    Roper Technologies, Inc. reported third-quarter 2026 net revenues of $2,171.8 million, up from $2,017.5 million in the prior-year quarter, and net earnings of $484.7 million versus $398.5 million. Diluted EPS was $4.88 compared with $3.68. Operating income rose to $623.2 million from $573.0 million. Nine-month results were materially lifted by a $1,058.7 million equity investment gain tied to Indicor, which drove nine-month net earnings to $2,162.1 million (diluted EPS $21.30). Organic revenue growth was 6.7% in the quarter and 5.8% for the nine months, per the filing. The key balance sheet and capital allocation events were the August 26, 2026 closing of the Indicor Instrumentation divestiture to AMETEK, which delivered pre-tax cash proceeds of $1,239.2 million, and the repurchase of $2,726.7 million of common stock in the nine months, with $2,775.9 million remaining under the authorization. Total debt, net of deferred financing costs, rose to $9,719.7 million from $9,301.0 million, driven by $400.0 million of net revolver borrowings, and net debt to total net capital increased to 32.9% from 31.2%. Shares outstanding fell to 99.0 million from 106.6 million at year-end 2025. The company also disclosed four nine-month acquisitions totaling $488.7 million, including Origo ($308.1 million) and Playground ($140.0 million), and a planned Indicor Flow Controls divestiture expected to close in the fourth quarter of 2026 with approximately $600 million of pre-tax proceeds to Roper. Backlog increased 9.4% to $3,471.6 million, and management stated it expects existing cash, operating cash flow and credit facility availability to be sufficient for its operating requirements.

    Nov 2, 2026
  2. 2026-Q2

    Roper Technologies Quarterly Report for Q2 Ended Jun 30, 2026

    Roper Technologies, Inc. reported second-quarter 2026 net revenues of $2,108.9 million, up from $1,943.6 million in the second quarter of 2025, and net earnings of $1,168.5 million versus $378.3 million a year earlier. The results were driven largely by a non-operating gain: equity investment activity was a gain of $835.2 million in the quarter, primarily from an $828.6 million increase in the fair value of the company's Indicor equity investment, reflecting updated valuation assumptions made in anticipation of Indicor's planned divestiture of its instrumentation businesses. Income from operations rose to $584.7 million from $548.3 million. Diluted earnings per share were $11.62 for the quarter versus $3.49 a year earlier. Organic revenue growth was 4.9% for the quarter, with acquisitions contributing 3.4 points. Operating results were steady across segments. Application Software revenue grew 7.8% to $1,180.8 million, Network Software grew 11.8% to $430.9 million, and Technology Enabled Products grew 7.3% to $497.2 million. Backlog rose 11.0% to $3,286.0 million. Operating margin in Network Software declined to 41.0% from 43.9%, mainly due to acquisition-related amortization. Six-month operating cash flow was $1,061.6 million, up from $932.8 million. Capital allocation and leverage shifted meaningfully. The company repurchased 7.865 million shares for $2,724.1 million in the first half of 2026, and $2,775.9 million remained under the repurchase authorization at June 30, 2026. Total debt, net of deferred financing costs, rose to $11,319.4 million from $9,301.0 million at year-end 2025, largely from $2,000.0 million of net revolving credit facility borrowings. Net debt to total net capital was 36.9%, up from 31.2%. The company also entered a new five-year $3,500.0 million unsecured credit facility on March 30, 2026. Management expects the planned Indicor Instrumentation sale to AMETEK, Inc. for an enterprise value of about $5.0 billion, which is expected to close in the second half of 2026, to bring pre-tax cash proceeds of approximately $1.3 billion to Roper.

    Jul 31, 2026
  3. 2026-Q1

    Roper Technologies Quarterly Report for Q1 Ended Mar 31, 2026

    Roper Technologies, Inc. reported first-quarter 2026 net revenues of $2.095 billion, up from $1.883 billion in the prior-year quarter, with organic revenue growth of 5.6% as stated in the filing. Net earnings rose to $508.9 million from $331.1 million, helped by a $167.3 million gain on the company's equity investment in Indicor, compared with a $44.4 million loss a year earlier. Income from operations was $569.6 million versus $525.8 million, and diluted EPS was $4.87 versus $3.06. Segment operating margins declined in Network Software (40.6% vs. 44.3%) and Technology Enabled Products (32.4% vs. 35.0%), while Application Software improved to 26.8% from 25.9%. Capital allocation and leverage were the main balance-sheet developments. Roper repurchased $1.50 billion of common stock in the quarter and, in April 2026, repurchased a further $528.4 million; the Board added $3.0 billion of authorization in April, leaving $3.47 billion available as of April 30, 2026. Total debt, net of deferred financing costs, rose to $10.46 billion from $9.30 billion, mainly from $1.15 billion of net revolver borrowings, and net debt divided by total net capital increased to 34.9% from 31.2%. On March 30, 2026, the company entered into a new five-year $3.5 billion unsecured revolving credit facility that replaced its prior facility. Operating cash flow was $592.1 million, up from $528.7 million. Backlog (remaining performance obligations expected within 12 months) was $3.39 billion, up 11.8% from $3.03 billion a year earlier, and total remaining performance obligations were $5.28 billion. Management reported no material changes to risk factors and no changes in internal control over financial reporting.

    May 1, 2026
  4. 2025-Q3

    Roper Technologies Quarterly Report for Q3 Ended Sep 30, 2025

    Roper Technologies, Inc. reported third-quarter 2025 net revenues of $2,017.5 million, up from $1,764.6 million a year earlier, with net earnings of $398.5 million (diluted EPS of $3.68, versus $3.40). For the nine months ended September 30, 2025, net revenues were $5,843.9 million and net earnings were $1,107.9 million. Organic revenue growth was 6.0% for the quarter and 5.8% for the nine months, with acquisitions contributing 8.0% and 7.3% respectively. Segment operating margins were 32.3% for the quarter, and income from operations was $573.0 million for the quarter. Backlog increased 4.9% to $3,174.0 million. Cash provided by operating activities rose to $1,802.3 million for the nine months, from $1,671.0 million. During the period the company acquired CentralReach for $1,850 million, Subsplash for $800.0 million, and several bolt-on businesses totaling $648.5 million, funded largely by borrowings. Total debt, net of deferred financing costs, increased to $9,454.1 million from $7,623.0 million at December 31, 2024, and net debt to total net capital was 31.4% versus 28.3%. The company issued $2,000.0 million of senior notes in August 2025 and repaid $700.0 million of 2025 notes at maturity. Subsequent to quarter end, in October 2025, the board approved a share repurchase program of up to $3,000.0 million of common stock with no fixed expiration. The filing notes that the OBBBA tax legislation is expected to provide a full-year 2025 cash tax benefit of approximately $150 million, with approximately $120 million expected in 2026.

    Oct 31, 2025
  5. 2025-Q2

    Roper Technologies Quarterly Report for Q2 Ended Jun 30, 2025

    Roper Technologies, Inc. reported net revenues of $1,943.6 million for the three months ended June 30, 2025, compared with $1,716.8 million in the prior-year quarter, and net earnings of $378.3 million versus $337.1 million. For the six months, net revenues were $3,826.4 million and net earnings were $709.4 million. Diluted earnings per share were $3.49 for the quarter and $6.55 for the six months. Organic revenue growth was 6.7% for the quarter and 5.8% for the six months, with acquisitions contributing the remainder of the growth. Segment results were mixed: Application Software grew 17.5% in the quarter, Network Software grew 5.8%, and Technology Enabled Products grew 10.1%. The company's balance sheet grew substantially through acquisitions during the period. Goodwill rose to $20,507.6 million and total assets reached $33,220.4 million at June 30, 2025. Total debt, net of deferred financing costs, increased to $8,859.0 million from $7,623.0 million at December 31, 2024, primarily from borrowings under the revolving credit facility to fund the CentralReach acquisition. Net debt as a percentage of total net capital rose to 30.5% from 28.3%. Cash provided by operating activities was $932.8 million for the six months, up from $915.6 million. Subsequent to the quarter, the company disclosed three acquisitions completed in late July 2025: Subsplash (approximately $800 million), Orchard Software (approximately $175 million), and Convoy (approximately $250 million). The filing also states that the enacted One Big Beautiful Bill Act is expected to provide a full-year 2025 cash tax benefit of approximately $150 million, with approximately $120 million expected in 2026.

    Aug 1, 2025
  6. 2025-Q1

    Roper Technologies Quarterly Report for Q1 Ended Mar 31, 2025

    Roper Technologies, Inc. reported net revenues of $1,882.8 million for the three months ended March 31, 2025, up from $1,680.7 million a year earlier, an increase of 12.0% per the filing, with organic revenue growth of 4.8%. Net earnings fell to $331.1 million from $382.0 million, largely because of a $44.4 million loss on equity investments, driven by a $44.1 million decrease in the fair value of its Indicor investment, compared with a $57.0 million gain in the prior-year quarter. Income from operations rose to $525.8 million from $481.3 million. Diluted EPS was $3.06 versus $3.54. Cash provided by operating activities was $528.7 million, roughly flat versus $531.5 million, reflecting a $24.0 million litigation settlement payment, incentive compensation payments, and higher cash taxes paid. Cash used in investing activities was $146.8 million, mainly for the Muni-Link acquisition at a purchase price of $118.0 million. Total debt, net of deferred financing costs, decreased to $7,456.4 million from $7,623.0 million, and the company repaid its $125.0 million revolver balance. Backlog increased 3.5% to $3,033.8 million. Subsequent to quarter end, Roper acquired CentralReach for approximately $1,850 million on April 23, 2025, funded with borrowings under its unsecured revolving credit facility. The filing states that CentralReach results will be reported in the Application Software segment beginning in the second quarter of 2025, and that existing cash, operating cash flows and credit facility availability are expected to fund operations for the foreseeable future.

    May 2, 2025
  7. 2024-Q3

    Roper Technologies Quarterly Report for Q3 Ended Sep 30, 2024

    Roper Technologies, Inc. reported net revenues of $1,764.6 million for the three months ended September 30, 2024, compared with $1,563.4 million a year earlier, and net earnings of $367.9 million versus $347.2 million. For the nine months, net revenues were $5,162.1 million (vs. $4,564.3 million) and net earnings were $1,087.0 million (vs. $995.2 million). Diluted EPS was $3.40 for the quarter and $10.06 for the nine months. Organic revenue growth was 4.1% for the quarter and 5.4% for the nine months, with acquisitions contributing the rest of the growth, most notably Procare and Transact. The company deployed significant capital during the period. It acquired Procare Software for $1,860 million (February 2024) and Transact Campus for $1,607 million (August 2024), and it issued $2.0 billion of senior notes in August 2024. Cash provided by operating activities from continuing operations was $1,671.0 million for the nine months, up from $1,415.7 million. Total debt, net of deferred financing costs, rose to $8,376.6 million from $6,330.1 million at year-end 2023, and net debt to total net capital was 30.5%, compared with 26.0% at December 31, 2023. Backlog (remaining performance obligations expected within 12 months) increased 3.9% to $3,026.1 million. Management stated that it expects operating cash flows to permit debt reduction under the repayment schedule, while noting that the pace of reduction depends on acquisition financing needs and broader economic conditions. A pending antitrust action against subsidiary PowerPlan, Inc. seeks damages of approximately $66 million; management believes the outcome should not have a material adverse effect.

    Nov 1, 2024
  8. 2024-Q2

    Roper Technologies Quarterly Report for Q2 Ended Jun 30, 2024

    Roper Technologies, Inc. reported net revenues of $1,716.8 million for the three months ended June 30, 2024, compared with $1,531.2 million a year earlier, and $3,397.5 million for the six months, compared with $3,000.9 million. Income from operations was $494.2 million for the quarter versus $435.3 million in the prior-year quarter. Net earnings were $337.1 million for the quarter, down from $364.9 million, which included $3.9 million from discontinued operations in 2023. Diluted EPS was $3.12 for the quarter versus $3.40 a year earlier. The decline in net earnings was driven mainly by higher interest expense of $67.5 million (versus $34.8 million) and an equity investment gain of $66.0 million in the prior-year quarter that did not recur. Segment results were broadly positive. Application Software revenue rose 21.0% for the quarter, with organic growth of 4.8% and acquisitions contributing 16.2%, led by the Procare acquisition completed February 26, 2024 for a purchase price of $1,860.0 million net of cash acquired. Network Software revenue grew 1.7%, with organic growth of 1.8%, and Technology Enabled Products grew 4.5%, with organic growth of 4.7%. Backlog increased 3.3% to $2,836.4 million at June 30, 2024. The balance sheet reflects heavier leverage. Total debt, net of deferred financing costs, rose to $7,423.9 million from $6,330.1 million at year-end 2023, mainly from $1,090.0 million of net revolver borrowings used to fund the acquisition. Net debt to total net capital was 28.3%, up from 26.0%. Operating cash flow from continuing operations for the six months was $915.6 million, compared with $785.0 million in the prior year. The company also disclosed a pending lawsuit against subsidiary PowerPlan, Inc. in which the plaintiff claims damages of approximately $66 million, and management believes the ultimate liability should not have a material adverse effect.

    Aug 1, 2024
  9. 2024-Q1

    Roper Technologies Quarterly Report for Q1 Ended Mar 31, 2024

    Roper Technologies, Inc. reported net revenues of $1,680.7 million for the three months ended March 31, 2024, up from $1,469.7 million a year earlier, an increase of 14.4%. Organic revenue growth was 8.1%, with acquisitions contributing 6.0 points. Income from operations rose to $481.3 million from $401.0 million, and net earnings increased to $382.0 million from $283.1 million. Diluted earnings per share from net earnings were $3.54 versus $2.65. Results were helped by a $57.0 million net gain on equity investments, driven mainly by a $64.4 million fair value increase in the Indicor investment. The quarter's key balance sheet event was the February 26, 2024 acquisition of Procare Software for a purchase price of $1,860.0 million, net of cash acquired and certain liabilities assumed. The acquisition was funded largely by borrowings under the unsecured credit facility, which stood at $1,750.0 million at March 31, 2024, up from $360.0 million at December 31, 2023. Total debt, net of deferred financing costs, rose to $7,722.0 million from $6,330.1 million, and net debt / total net capital increased to 29.7% from 26.0%. Cash provided by operating activities from continuing operations was $531.5 million. Backlog, defined as remaining performance obligations expected to be recognized within 12 months, was $2,932.4 million, up 2% from $2,872.5 million a year earlier, with growth from acquisitions partially offset by a decline in the Technology Enabled Products segment. The company also disclosed a pending antitrust and deceptive trade practices lawsuit against its subsidiary PowerPlan, Inc., in which the plaintiff claims damages of approximately $66 million. Management believes the ultimate liability should not have a material adverse effect on the company's financial position, results of operations, or cash flows.

    May 3, 2024
  10. 2023-Q3

    Roper Technologies Quarterly Report for Q3 Ended Sep 30, 2023

    Roper Technologies, Inc. reported third-quarter 2023 net revenues of $1,563.4 million, up 15.8% from $1,350.3 million a year earlier, with organic revenue growth of 6.0% for the quarter. Income from operations rose to $446.1 million from $393.2 million, and net earnings were $347.2 million versus $327.0 million. For the nine months, net revenues were $4,564.3 million and net earnings were $995.2 million, compared with $2,616.3 million in the prior-year period, which included a $1,707.7 million gain on disposition of discontinued operations (primarily TransCore). Diluted net earnings per share from continuing operations were $3.21 for the quarter and $9.23 for the nine months. Growth was driven largely by acquisitions, most notably Syntellis ($1,381 million purchase price, August 7, 2023) and Replicon ($447.5 million, August 21, 2023), plus Promium. Acquisitions and divestitures contributed 9.4 percentage points of the quarterly revenue growth. Application Software revenue rose 24.8% in the quarter, Network Software 5.0%, and Technology Enabled Products 10.1%. Backlog increased 20% to $2,913.7 million. Cash provided by operating activities from continuing operations rose to $1,415.7 million for the nine months from $550.2 million, while acquisitions used $1,970.1 million of cash. Total debt, net of deferred financing costs, increased to $6,878.3 million from $6,661.7 million, and cash fell to $299.5 million from $792.8 million at December 31, 2022. The filing also reports fair value gains on the company's 47.7% minority stake in Indicor, which contributed $33.9 million to quarterly earnings through equity investment activity, net. Roper repaid $700.0 million of 3.650% senior notes at maturity in September 2023 using its unsecured credit facility, which had $910.0 million outstanding at quarter end. Management stated its disclosure controls were effective, and no director or officer adopted or terminated a Rule 10b5-1 trading arrangement during the quarter.

    Nov 2, 2023
  11. 2023-Q2

    Roper Technologies Quarterly Report for Q2 Ended Jun 30, 2023

    Roper Technologies, Inc. reported net revenues of $1,531.2 million for the three months ended June 30, 2023, up from $1,310.8 million a year earlier, and $3,000.9 million for the six months ended June 30, 2023, compared with $2,590.6 million in the prior-year period. Income from operations for the quarter was $435.3 million versus $362.9 million, and net earnings were $364.9 million versus $268.8 million. Net earnings for the six months were $648.0 million, compared with $2,289.3 million in 2022, a comparison that was inflated by gains on the 2022 divestitures reported in discontinued operations. Net earnings from continuing operations for the six months were $645.3 million, versus $461.4 million a year earlier. Management attributes the revenue growth to acquisitions and organic growth across all three segments, with Application Software leading. Cash and cash equivalents rose to $1,462.8 million at June 30, 2023, from $792.8 million at December 31, 2022. Cash provided by operating activities from continuing operations was $785.0 million for the six months, compared with $331.0 million a year earlier, which the company attributes mainly to cash taxes paid in 2022 in connection with the 2021 divestitures. Total debt, net of deferred finance costs, was $6,666.1 million, and net debt was $5,203.3 million. Backlog was $2,746.8 million at June 30, 2023, up from $2,467.7 million a year earlier. The filing also reports the fair value of Roper's 48.1% minority equity interest in Indicor, which was $591.3 million at quarter end after a $56.3 million fair value increase, and the May 2023 acquisition of Promium, LLC for $16.5 million. The company agreed on May 14, 2023 to acquire Replicon Inc.'s assets for approximately $450 million, with closing expected in the third quarter of 2023.

    Aug 3, 2023
  12. 2023-Q1

    Roper Technologies Quarterly Report for Q1 Ended Mar 31, 2023

    Roper Technologies, Inc. reported net revenues of $1,469.7 million for the three months ended March 31, 2023, up from $1,279.8 million a year earlier, and income from operations of $401.0 million versus $355.9 million. Net earnings from continuing operations were $284.3 million, compared with $236.4 million, and diluted EPS from continuing operations was $2.66 versus $2.22. Total net earnings were $283.1 million, compared with $2,020.5 million in the prior-year quarter, which included a $1,717.3 million gain on the disposition of discontinued operations (TransCore and Zetec). Organic revenue growth was 7.9% for Roper overall, with Application Software at 5.9%, Network Software at 6.0%, and Technology Enabled Products at 13.7%. Acquisitions contributed 8.0 percentage points of total revenue growth. Cash provided by operating activities from continuing operations rose to $464.9 million from $441.3 million, although working capital was affected by Frontline SaaS renewal timing and a $45.0 million settlement of the Berall v. Verathon patent litigation. Cash and cash equivalents increased to $1,181.6 million at March 31, 2023, from $792.8 million at December 31, 2022. Total debt, net of deferred finance costs, was $6,663.9 million, and net debt to total net capital improved to 25.1% from 26.8%. Backlog increased 17% to $2,872.5 million. The company also holds a 48.6% minority equity interest in Indicor, carried at fair value, which was unchanged in the quarter. Subsequent to quarter end, Indicor announced the planned divestiture of its Compressor Controls business to Honeywell for approximately $670 million, which management will consider in its second-quarter fair value assessment.

    May 3, 2023
  13. 2022-Q3

    Roper Technologies Quarterly Report for Q3 Ended Sep 30, 2022

    Roper Technologies, Inc. reported third-quarter 2022 net revenues of $1,350.3 million, up 9.6% from $1,232.1 million a year earlier, with organic revenue growth of 9.8%. Income from operations rose to $393.2 million from $346.9 million, and net earnings from continuing operations were $276.9 million versus $210.8 million. Nine-month net earnings reached $2,616.3 million, driven largely by a $1,707.7 million after-tax gain on the disposition of discontinued operations, primarily the TransCore sale. Backlog increased 23% to $2,420.9 million. The company is in the middle of a portfolio reshaping. The TransCore, Zetec and CIVCO Radiotherapy divestitures are complete, and the sale of a 51% stake in its Industrial Businesses to affiliates of Clayton, Dubilier & Rice, LLC is expected to close in the fourth quarter of 2022. Roper will retain a 49% minority equity interest in RIPIC TopCo, and the filing states that the transaction will greatly reduce the cyclicality and asset intensity of the company. Results for the Industrial Businesses are presented as discontinued operations. Roper also completed several acquisitions during 2022, including viDesktop for $286.5 million and MGA Systems for $180.1 million, and it completed the Frontline Education acquisition for $3,738 million on October 4, 2022. Balance sheet deleveraging continued. Cash and cash equivalents rose to $1,894.5 million, total debt fell to $6,659.5 million from $7,921.8 million at December 31, 2021, and the net debt to total net capital ratio improved to 25.6% from 39.6%. Operating cash flow from continuing operations fell 52% to $550.2 million for the nine months, mainly due to timing of cash taxes related to the divestitures. The company also disclosed a new $3,500.0 million five-year unsecured revolving credit facility.

    Nov 2, 2022
  14. 2022-Q2

    Roper Technologies Quarterly Report for Q2 Ended Jun 30, 2022

    Roper Technologies, Inc. reported second-quarter 2022 net revenues of $1,310.8 million, up from $1,189.8 million in the prior-year quarter, with income from operations of $362.9 million versus $316.2 million. Net earnings from continuing operations were $225.0 million for the quarter, compared with $204.4 million a year earlier. Total net earnings were $268.8 million in the quarter, but six-month net earnings of $2,289.3 million were driven by a $1,706.6 million gain on the disposition of discontinued operations, primarily the TransCore sale completed March 17, 2022 for approximately $2,680.0 million in cash. During the second quarter, Roper agreed to sell a 51% majority stake in its Industrial Businesses to affiliates of Clayton, Dubilier & Rice, LLC, with approximately $2,600 million of upfront pre-tax cash proceeds and a retained 49% minority interest in RIPIC TopCo. These businesses are presented as discontinued operations, and the company is reorganized into three segments: Application Software, Network Software, and Technology Enabled Products. Backlog rose to $2,467.7 million at June 30, 2022, and cash and cash equivalents increased to $2,879.1 million from $351.5 million at year-end 2021. Debt declined to $7,457.0 million from $7,921.8 million at December 31, 2021, and net debt to total net capital was 25.0% at June 30, 2022, versus 39.6% at year-end 2021. After quarter-end, on July 21, 2022, Roper entered into a new five-year $3,500.0 million unsecured revolving credit facility replacing its $3,000.0 million facility, and it has called its $500.0 million 3.125% notes due 2022 for redemption on August 15, 2022. Cash used in operating activities from continuing operations fell to $331.0 million for the six months from $805.5 million, reflecting cash taxes paid on the 2021 divestitures.

    Aug 3, 2022
  15. 2022-Q1

    Roper Technologies Quarterly Report for Q1 Ended Mar 31, 2022

    Roper Technologies, Inc. reported first-quarter 2022 net revenues of $1,526.6 million, up from $1,376.1 million in the prior-year quarter, and organic revenue growth of 10.9% as stated in the filing's revenue growth table. Income from continuing operations before income taxes was $366.6 million versus $341.1 million, and net earnings from continuing operations were $287.6 million versus $269.9 million. Total net earnings were $2,020.5 million, driven by a $1,717.3 million after-tax gain on the disposition of discontinued operations, principally the TransCore business sold on March 17, 2022 for approximately $2,680.0 million in cash. Diluted net earnings per share were $18.94, of which $16.24 came from discontinued operations. The balance sheet shifted materially during the quarter. Cash and cash equivalents rose to $3,237.5 million from $351.5 million at December 31, 2021, and total debt fell to $7,454.3 million from $7,921.8 million, producing net debt of $4,216.8 million. Net debt to total net capital was 23.7%, compared with 39.6% at year-end 2021. Net working capital was negative $1,454.2 million, reflected by a rise in income taxes payable of $793.0 million tied to the divestitures. Backlog increased 28% to $2,718.0 million. Segment results were mixed in margin terms. Network Software & Systems and Application Software improved operating margins to 39.4% and 27.5%, respectively, while Measurement & Analytical Solutions' operating margin declined to 29.5% from 32.9%, mainly because of higher material, component and freight costs. The company also recorded a one-time $4.1 million charge to transfer its remaining asbestos claim exposure to a third party, and disclosed ongoing litigation involving subsidiary Vertafore, Inc. and a patent case against Verathon, Inc.

    May 4, 2022
  16. 2021-Q3

    Roper Technologies Quarterly Report for Q3 Ended Sep 30, 2021

    Roper Technologies, Inc. reported third-quarter 2021 net revenues of $1,462.8 million, up from $1,198.2 million in the third quarter of 2020, and net earnings of $289.5 million versus $234.4 million. Diluted net earnings per share were $2.71 compared with $2.21. For the nine months ended September 30, 2021, net revenues were $4,265.5 million and net earnings were $864.8 million, with cash provided by operating activities of $1,432.4 million compared with $950.9 million a year earlier. Reported total revenue growth was 22.1% for the quarter, of which organic growth was 12.0%, with acquisitions/divestitures contributing 9.3 percentage points. The company has signed agreements to divest its TransCore, Zetec and CIVCO Radiotherapy businesses, which are presented as discontinued operations for all periods. The Zetec sale to Eddyfi NDT Inc. for approximately $350.0 million is expected to close in the fourth quarter of 2021, the CIVCO Radiotherapy sale for approximately $120.0 million closed on November 1, 2021, and the TransCore sale to an affiliate of Singapore Technologies Engineering Ltd. for approximately $2,680.0 million is expected to close in the first quarter of 2022. The filing describes these divestitures as enhancing the mix of high-margin, recurring revenue businesses and notably reducing working capital requirements. Balance sheet leverage declined, with total debt of $8,329.1 million at September 30, 2021 versus $9,560.8 million at December 31, 2020, and net debt to total net capital of 41.3% versus 46.9%. The company also disclosed that it will redeem all $500 million of its 2.800% notes due December 2021 on November 15, 2021. Pending litigation includes a putative class action against subsidiary Vertafore, Inc. relating to a November 2020 data event, which management does not expect to have a material adverse effect.

    Nov 4, 2021
  17. 2021-Q2

    Roper Technologies Quarterly Report for Q2 Ended Jun 30, 2021

    Roper Technologies, Inc. reported second-quarter 2021 net revenues of $1,587.6 million, up from $1,305.0 million in the second quarter of 2020, and net earnings of $286.3 million, up from $219.2 million. Diluted earnings per share were $2.69 compared with $2.08 a year earlier. For the six months ended June 30, 2021, net revenues were $3,116.2 million and net earnings were $575.3 million. The filing attributes the revenue growth to acquisitions (12% of the six-month increase) and organic growth (3%), with Application Software, driven by the Vertafore and EPSi acquisitions, providing the largest gain. Cash provided by operating activities rose to $985.1 million for the six months, from $813.0 million, while the company repaid a net $870.0 million under its revolving line of credit. Total debt declined to $8,701.9 million at June 30, 2021 from $9,566.5 million at December 31, 2020, and net debt to total net capital improved to 43.0% from 46.9%. Management states it is currently focused on reducing debt and that future acquisitions will depend on numerous factors. The filing also discloses a Vertafore data-event class action covering approximately 27.7 million Texas driver's license holders, which Vertafore is vigorously defending, and a Texas Attorney General investigation of the same event. The company's backlog rose to $2,647.6 million at June 30, 2021 from $2,044.3 million a year earlier.

    Aug 5, 2021
  18. 2021-Q1

    Roper Technologies Quarterly Report for Q1 Ended Mar 31, 2021

    Roper Technologies, Inc. reported first-quarter 2021 net revenues of $1,528.6 million, up 13% from $1,350.7 million in the prior-year quarter, with the filing attributing the increase to a net acquisition/divestiture contribution of 12% and a foreign exchange benefit of 1%, partially offset by an organic decline of 1%. Income from operations rose to $400.5 million from $349.2 million, and net earnings increased to $289.0 million, or $2.73 per diluted share, from $240.3 million, or $2.28 per diluted share. Other income of $27.0 million was composed primarily of a $27.1 million gain on the sale of a minority investment in Sedaru, Inc. Application Software was the strongest segment, with revenues up 42% to $576.6 million, driven mainly by acquisitions, while Process Technologies revenues fell 8% to $130.8 million on lower upstream oil and gas demand. Cash provided by operating activities increased to $559.6 million from $363.9 million. The company used cash to repay $495.0 million under its revolving line of credit, bringing total debt to $9,073.9 million from $9,566.5 million at December 31, 2020. Net debt was $8,742.9 million, and net debt to total net capital was 44.8% versus 46.9% at year-end 2020. Backlog increased 25% to $2,578.7 million, with organic growth of 3% and acquisitions contributing 22%. Management stated that it is currently focused on reducing debt, and that future acquisitions depend on numerous factors. The filing also discloses a pending matter involving subsidiary Vertafore, Inc., which is defending three putative class actions relating to a November 2020 data event affecting Texas driver license records. The Texas Attorney General is also investigating the event. Management believes the ultimate liability, if any, should not have a material adverse effect on the company's consolidated financial position, results of operations or cash flows.

    May 5, 2021
  19. 2020-Q3

    Roper Technologies Quarterly Report for Q3 Ended Sep 30, 2020

    Roper Technologies, Inc. reported net revenues of $1,366.1 million for the third quarter of 2020, up from $1,354.5 million in the prior-year quarter, and net earnings of $234.4 million, down from $277.5 million. For the nine months ended September 30, 2020, net revenues were $4,021.8 million and net earnings were $693.9 million, compared with $3,972.0 million and $896.8 million a year earlier. The nine-month 2019 net earnings included a $119.6 million pretax gain on the disposal of the Imaging businesses. Diluted earnings per share were $2.21 for the quarter and $6.57 for the nine months. The company described the quarter's revenue growth as the result of net acquisition/divestiture contribution of 2.8% and a foreign exchange benefit of 0.5%, partially offset by an organic decline of 2.4%. The period was dominated by the September 3, 2020 acquisition of Vertafore, Inc., a SaaS provider to the property and casualty insurance industry, for a purchase price of $5,398.6 million. The acquisition was funded with $3,300.0 million of senior unsecured notes issued in June and September 2020 and borrowings under the revolving credit line. Total debt rose to $9,704.0 million at September 30, 2020 from $5,275.3 million at December 31, 2019, and net debt to total net capital was 48.1%, compared with 32.5% at year-end 2019. Cash fell to $302.1 million, and the company stated it is currently focused on reducing debt. Operating results showed divergence across segments. Application Software and Network Software & Systems grew revenue, while Measurement & Analytical Solutions and Process Technologies declined, with Process Technologies revenue down 24.7% in the quarter due to lower demand in upstream oil and gas markets. Net cash provided by operating activities was $950.9 million for the nine months, and the company stated that existing cash, operating cash flow and its new $3.00 billion revolving credit facility should be sufficient for at least the next twelve months. Management also disclosed that COVID-19 has had an adverse impact on the business and that its expectations for 2020 operating results have been lowered.

    Nov 4, 2020
  20. 2020-Q2

    Roper Technologies Quarterly Report for Q2 Ended Jun 30, 2020

    Roper Technologies, Inc. reported net revenues of $1,305.0 million for the three months ended June 30, 2020, down from $1,330.3 million a year earlier, and $2,655.7 million for the six months ended June 30, 2020, up from $2,617.5 million. Net earnings were $219.2 million for the quarter, versus $249.7 million in the prior-year quarter, and $459.5 million for the six months, versus $619.3 million, which included a $119.6 million pretax gain on the disposal of the Imaging businesses in 2019. Management attributes the quarterly revenue decline to an organic decline of 2.8%, a negative foreign exchange impact of 0.5%, and a net acquisition/divestiture contribution of 1.4%. The Process Technologies segment was the weakest, with revenue down 26.6% in the quarter and a $13.6 million restructuring charge, while Network Software & Systems grew 15.0%. Liquidity strengthened during the period. Cash and cash equivalents rose to $1,870.8 million at June 30, 2020, from $709.7 million at December 31, 2019, following the issuance of $600.0 million of 2.00% senior notes due 2030 and the deferral of approximately $320 million of U.S. and state income tax payments under legislative provisions. Total debt increased to $5,866.4 million from $5,275.3 million, and the company's $2,500.0 million revolving credit facility was undrawn. The filing notes that COVID-19 did not have a material impact on second-quarter results, but it continues to create significant uncertainty, and management has lowered its 2020 operating expectations. The filing also reports $3,528.6 million of remaining performance obligations, of which approximately 58% is expected to be recognized over the next 12 months, and backlog of $2,044.3 million, up 14% from $1,789.0 million a year earlier. The company completed two small acquisitions in the first half of 2020 for an aggregate purchase price of $150.0 million, and it amended its Credit Agreement to measure leverage on a net debt basis, which the company says provides flexibility for its acquisition pipeline.

    Aug 5, 2020
  21. 2020-Q1

    Roper Technologies Quarterly Report for Q1 Ended Mar 31, 2020

    Roper Technologies, Inc. reported first-quarter 2020 net revenues of $1,350.7 million, up 4.9% from $1,287.2 million a year earlier, with organic growth of 3.6% and a net acquisition/divestiture contribution of 1.7%, partially offset by a 0.4% negative foreign exchange impact. Net earnings fell to $240.3 million from $369.6 million, which included a $119.6 million pretax gain on the disposal of the Imaging businesses in the prior-year period. Segment performance was mixed: Network Software & Systems revenue rose 26.8% to $438.2 million, while Measurement & Analytical Solutions (down 9.1%) and Process Technologies (down 10.3%) declined, with Process Technologies citing lower demand from upstream oil and gas markets. The filing describes significant COVID-19 uncertainty. Management said the pandemic did not materially affect first-quarter results, but noted delayed customer payments, weak demand in industrial and energy markets, and that expectations for 2020 operating results have been lowered. The company ended the quarter with cash of $999.8 million and an undrawn $2,500.0 million revolving credit facility, and reported backlog of $2,070.3 million, up from $1,697.7 million. Management concluded no triggering event for goodwill impairment occurred in the quarter, though it flagged the lab software trade name, carried at $100.4 million, as sensitive to a prolonged pandemic. On April 23, 2020, Roper amended its credit agreement so that the leverage covenant is measured on a net debt basis, adding a condition that Unrestricted Cash not exceed $1,250.0 million on borrowings through December 31, 2020. The company also expects to defer approximately $320 million of U.S. and state income tax payments and approximately $54 million of employer social security payroll taxes under the CARES Act.

    May 6, 2020
  22. 2019-Q3

    Roper Technologies Quarterly Report for Q3 Ended Sep 30, 2019

    Roper Technologies, Inc. reported third-quarter 2019 net revenues of $1,354.5 million, up 2.7% from $1,318.7 million a year earlier, with net earnings of $277.5 million (diluted EPS $2.64) versus $247.6 million ($2.37) in the prior-year quarter. The filing attributes the revenue increase to organic growth of 1.8% and a net acquisition/divestiture contribution of 1.5%, partly offset by a 0.6% negative foreign exchange impact. For the nine months, net revenues rose 4.1% to $3,972.0 million and net earnings were $896.8 million, which includes a $119.6 million pretax gain on the February 2019 sale of the Imaging businesses to Teledyne Technologies. The company completed three acquisitions in the first nine months of 2019 for an aggregate purchase price of $2,352.5 million, including Foundry, ComputerEase and iPipeline. Total debt rose to $6,198.0 million at September 30, 2019 from $4,941.7 million at December 31, 2018, mainly from $1.2 billion of new senior notes issued in August 2019 to help fund the iPipeline purchase. Net debt to total net capital increased to 40.7% from 37.2%. Operating cash flow was $995.6 million for the nine months, and the filing reports backlog of $1,865.7 million, up 10% year over year. The filing also discloses that the sale of Gatan to AMETEK, for approximately $925.0 million in cash, closed on October 29, 2019, after the period end. The company says the gain and related tax expense are still being calculated and will be disclosed in its 2019 Form 10-K. Management concluded that disclosure controls were effective, and it expects existing cash, operating cash flow and credit facility availability to fund operations for the foreseeable future.

    Nov 1, 2019
  23. 2019-Q2

    Roper Technologies Quarterly Report for Q2 Ended Jun 30, 2019

    Roper Technologies, Inc. reported second-quarter 2019 net revenues of $1,330.3 million, up 2.8% from $1,293.7 million in the prior-year quarter, with organic growth of 2.3%. Income from operations rose to $368.4 million from $354.3 million, and net earnings increased to $249.7 million, or $2.38 per diluted share, versus $228.4 million, or $2.19 per diluted share, a year earlier. For the six months, net earnings were $619.3 million, including a $119.6 million pretax gain on the February 2019 sale of the Imaging businesses to Teledyne Technologies Incorporated. Diluted EPS for the six months was $5.90. Segment results were mixed. Application Software and Network Software & Systems grew revenue 9.0% and 9.9% in the quarter, while Measurement & Analytical Solutions and Process Technologies declined 4.1% and 6.4%, respectively. Backlog rose 2% to $1,789.0 million. Cash provided by operating activities was $591.1 million for the six months, and total debt fell to $4,721.0 million from $4,941.7 million at year-end 2018, driven mainly by net repayments on the unsecured credit facility. The company acquired Foundry on April 18, 2019 for $536.0 million net of cash acquired. The previously announced sale of Gatan to Thermo Fisher Scientific was mutually terminated on June 10, 2019, and Roper states it expects to reach an agreement with a buyer for Gatan within the next twelve months. Gatan remains classified as held for sale.

    Aug 2, 2019
  24. 2019-Q1

    Roper Technologies Quarterly Report for Q1 Ended Mar 31, 2019

    Roper Technologies, Inc. reported first-quarter 2019 net revenues of $1,287.2 million, up 7.0% from $1,202.5 million in the first quarter of 2018. The filing attributes the increase to organic growth of 6.4%, a net acquisition/divestiture contribution of 1.8%, and a negative foreign exchange impact of 1.2%. Income from operations rose to $346.4 million from $300.2 million, and net earnings increased to $369.6 million from $211.3 million. Net earnings include a pretax gain of $119.6 million on the February 5, 2019 sale of the Imaging businesses to Teledyne Incorporated for approximately $225.0 million in cash. Diluted earnings per share were $3.53 compared with $2.03. The company realigned its reportable segments into four business-model-based segments: Application Software, Network Software & Systems, Measurement & Analytical Solutions, and Process Technologies. Application Software revenues were $381.2 million, up 17.7%, and Network Software & Systems revenues were $345.7 million, up 10.1%. Measurement & Analytical Solutions revenues were $401.8 million, down 0.5%, and Process Technologies revenues were $158.5 million, down 1.4%. Order backlog was $1,697.7 million compared with $1,693.7 million a year earlier. Cash provided by operating activities was $290.3 million compared with $281.7 million, despite $39.4 million of cash tax paid on the disposal of the Imaging businesses. Total debt fell to $4,502.8 million from $4,941.7 million at December 31, 2018, and net debt to total net capital was 33.6% compared with 37.2%. The company also disclosed a pending sale of Gatan to Thermo Fisher Scientific for approximately $925.0 million in cash, expected to close in 2019, and the April 18, 2019 acquisition of Foundry for £410.0.

    May 3, 2019
  25. 2018-Q3

    Roper Technologies Quarterly Report for Q3 Ended Sep 30, 2018

    Roper Technologies, Inc. reported third-quarter 2018 net revenues of $1,318.7 million, up from $1,159.9 million in the third quarter of 2017, and net earnings of $247.6 million versus $190.3 million a year earlier. Diluted earnings per share were $2.37 compared with $1.84. For the nine months ended September 30, 2018, net revenues were $3,814.9 million and net earnings were $687.3 million. The filing attributes the revenue increase to organic growth of 9.7% and acquisitions of 4.4% in the quarter, and notes that income taxes benefited from the lower U.S. federal corporate tax rate under the Tax Act. The company spent $1,188.3 million on six business acquisitions in the nine months, most notably PowerPlan, and funded this partly through $1,500.0 million of new senior notes, including $700.0 million due 2023 and $800.0 million due 2028. It used proceeds to redeem $500.0 million of 2019 notes, and it repaid $800.0 million of 2.05% notes maturing October 1, 2018 with credit facility borrowings. Total debt was $5,215.9 million at September 30, 2018, up from $5,155.5 million at December 31, 2017, and net debt to total net capital was 39.1%. The company also agreed to sell Gatan, Inc. to Thermo Fisher Scientific, Inc. for approximately $925.0 million in cash, with completion expected by the end of 2018, and Gatan's assets and liabilities are classified as held for sale. Operating cash flow was $966.0 million for the nine months, up from $865.7 million. Remaining performance obligations totaled $2,817.4 million, with about 60% expected to be recognized over the next 12 months.

    Nov 5, 2018
  26. 2018-Q2

    Roper Technologies Quarterly Report for Q2 Ended Jun 30, 2018

    Roper Technologies, Inc. reported second-quarter 2018 net revenues of $1,293.7 million, up 14.0% from $1,134.7 million a year earlier, with organic growth of 10.6%. Net earnings rose to $228.4 million from $179.5 million, and diluted earnings per share were $2.19 versus $1.74. For the six months ended June 30, 2018, net revenues were $2,496.2 million (up 12.4%) and net earnings were $439.7 million. Segment operating profit grew across all four segments, led by RF Technology, where revenues increased 17% in the quarter, and order backlog reached $1,757.1 million, up 11%. The company spent $1,182.3 million on acquisitions in the first six months, including PowerPlan, Inc. and ConceptShare, Inc. in June, and three construction-estimating software businesses. Cash provided by operating activities was $547.8 million, roughly flat with $550.1 million a year earlier. Total debt rose to $5,623.4 million from $5,155.5 million at December 31, 2017, and net debt to total net capital was 41.6%, up from 39.5%. Roper also agreed to sell Gatan, Inc. to Thermo Fisher Scientific, Inc. for approximately $925.0 million in cash, with completion expected by the end of 2018, and classified its assets as held for sale. The filing also adopted ASC 606 on January 1, 2018 using the modified retrospective method, which increased opening retained earnings by $14.3 million and shifted revenue recognition timing for certain software licenses. Management described the impact as not material to the three- and six-month results. Legal matters include asbestos-related claims and an April 2018 stockholder derivative complaint, which management does not expect to have a material adverse effect.

    Aug 6, 2018
  27. 2018-Q1

    Roper Technologies Quarterly Report for Q1 Ended Mar 31, 2018

    Roper Technologies, Inc. reported first-quarter 2018 net revenues of $1,202.5 million, up from $1,086.3 million in the first quarter of 2017, with the filing stating an increase of 10.7%, comprising organic growth of 7.8%, a net 1.0% effect from acquisitions and divestitures, and a 1.9% foreign exchange benefit. Income from operations rose to $300.2 million from $258.3 million, and net earnings increased to $211.3 million, or $2.03 per diluted share, compared with $158.1 million, or $1.53 per diluted share, a year earlier. The filing attributes the lower effective tax rate of 17.3% (versus 25.2%) primarily to the reduction in the U.S. federal corporate income tax rate under the Tax Act, and notes $21.1 million of excess tax benefits from equity compensation. Cash provided by operating activities was $281.7 million, down from $378.2 million, which the filing attributes primarily to higher tax payments, increased bonus payments, and working capital timing. Total debt fell to $4,622.0 million from $5,155.5 million at December 31, 2017, mainly through net repayments of $535.0 million on the unsecured credit facility, and net debt to total net capital declined to 37.3% from 39.5%. Order backlog reached $1,693.7 million, up 7% from $1,576.2 million a year earlier. The company adopted ASC 606 on January 1, 2018 using the modified retrospective method, recording a $14.3 million increase to opening retained earnings. The filing also reports two acquisitions, Quote Software and PlanSwift Software, for an aggregate purchase price of $38.7 million, both within the RF Technology segment. Roper is named in asbestos-related litigation, and management states it is not possible to determine the potential liability, if any.

    May 4, 2018
  28. 2017-Q3

    Roper Technologies Quarterly Report for Q3 Ended Sep 30, 2017

    Roper Technologies, Inc. reported third-quarter 2017 net revenues of $1.16 billion, up from $945.1 million in the prior-year quarter, and net earnings of $190.3 million, compared with $167.1 million a year earlier. Diluted earnings per share were $1.84 versus $1.63. Growth was driven by acquisitions and divestitures, which the filing says contributed a net effect of 17% to revenue growth, with organic growth of 5% and a foreign exchange benefit of 1%. Income from operations rose to $310.7 million from $267.4 million, though net interest expense more than doubled to $45.5 million from $26.8 million on higher weighted average debt balances. For the nine months ended September 30, 2017, net revenues were $3.38 billion and net earnings were $527.9 million, with cash provided by operating activities of $865.7 million compared with $693.4 million a year earlier. The company used cash to reduce debt: total debt fell to $5.33 billion from $6.21 billion at December 31, 2016, largely through net repayments of $880 million on its unsecured credit facility. Net debt to total net capital improved to 42.3% from 48.5%. Order backlog reached $1.59 billion, up from $1.12 billion a year earlier. During the quarter, the company completed three acquisitions in the nine-month period with an aggregate purchase price of $87 million, and agreed on October 4, 2017 to acquire Onvia, Inc. for approximately $70 million in cash, with closing expected in the fourth quarter of 2017. The company also expects its 2017 effective tax rate to be between 28% and 29%.

    Nov 6, 2017
  29. 2017-Q2

    Roper Technologies Quarterly Report for Q2 Ended Jun 30, 2017

    Roper Technologies, Inc. reported results for the three and six months ended June 30, 2017. Net sales rose to $1.13 billion for the quarter from $931.6 million a year earlier, and net earnings increased to $179.6 million from $158.1 million. Diluted earnings per share were $1.74 versus $1.54. For the six months, net sales were $2.22 billion and net earnings were $337.6 million. The filing attributes the growth to acquisitions, with the RF Technology segment rising 59.5% in the quarter, of which the 2016 acquisitions of Deltek and ConstructConnect accounted for 54%, alongside organic growth of 6% for the company. Cash flow and balance sheet improved meaningfully. Cash provided by operating activities was $550.1 million for the six months, compared with $376.8 million in the prior year, which the company attributed mainly to higher deferred revenue from software and subscription products. Total debt fell to $5.64 billion from $6.21 billion at December 31, 2016, primarily from paying down the unsecured credit facility, and net debt to total net capital declined to 44.5% from 48.5%. Order backlog reached $1.58 billion at June 30, 2017, up 39% from a year earlier. Net interest expense rose to $45.8 million in the quarter from $26.9 million, reflecting higher weighted average debt balances. The effective tax rate was 29.7% for the quarter, and the company expects a 2017 effective rate between 29% and 30%. Other income in the quarter included a $9.4 million pretax gain on the sale of a product line in the Energy Systems & Controls segment. Management concluded that disclosure controls were effective, and the filing reports no material legal proceedings beyond ordinary-course product liability, employment and asbestos-related claims.

    Aug 7, 2017
  30. 2017-Q1

    Roper Technologies Quarterly Report for Q1 Ended Mar 31, 2017

    Roper Technologies, Inc. reported first-quarter 2017 net sales of $1,086,305 thousand, up 20.4% from $902,423 thousand in the first quarter of 2016. The filing attributes the increase to acquisitions, which added 15.6%, and organic growth of 5.6%, partly offset by a 0.8% negative foreign exchange impact. Net earnings rose to $158,071 thousand from $151,416 thousand, and diluted earnings per share were $1.53 versus $1.48. Income from operations grew to $258,256 thousand, but interest expense, net, increased to $45,865 thousand from $27,413 thousand, and the company's net earnings margin fell to 14.6% from 16.8%. The RF Technology segment drove much of the growth, with net sales of $429,619 thousand, up 53.3%, largely from the 2016 acquisitions of Deltek and ConstructConnect. Its operating margin fell to 20.7% from 31.7% because of higher SG&A at recently acquired software businesses, including amortization of acquired intangibles. Medical & Scientific Imaging and Industrial Technology grew more modestly, and Energy Systems & Controls also improved its operating margin. Net orders were $1.11 billion and order backlog reached $1.58 billion at March 31, 2017, up 41% from a year earlier. Cash flow and balance sheet trends were favorable. Cash provided by operating activities rose 83% to $378 million, and total debt fell to $5.84 billion from $6.21 billion at December 31, 2016, after $370 million of net revolver repayments. Net debt to total net capital improved to 46.1% from 48.5%. The company expects its 2017 effective tax rate to be between 29% and 30%.

    May 5, 2017
  31. 2016-Q3

    Roper Technologies Quarterly Report for Q3 Ended Sep 30, 2016

    Roper Technologies, Inc. reported third-quarter 2016 net sales of $945.1 million, up from $883.9 million in the third quarter of 2015, with net earnings of $167.1 million compared to $160.4 million a year earlier. Diluted earnings per share were $1.63 versus $1.58. For the nine months ended September 30, 2016, net sales were $2.78 billion and net earnings were $476.6 million, compared to $487.5 million in the prior-year period. The filing attributes third-quarter sales growth to acquisitions, net of divestitures, which added 6%, with organic growth of 2% and a 1% negative foreign exchange impact. Growth was led by the RF Technology segment, where sales rose 19.7% in the quarter, while Energy Systems & Controls sales fell 13.4% amid lower oil and gas product sales. Interest expense rose to $26.8 million in the quarter from $20.4 million, reflecting higher weighted average debt balances and higher average interest rates. On September 23, 2016, Roper entered into a new five-year, $2.5 billion unsecured revolving credit facility, replacing its 2012 facility. Total debt declined to $3.1 billion at September 30, 2016 from $3.3 billion at December 31, 2015, as operating cash flow was used to repay revolver borrowings, and net debt to total net capital improved to 28.0% from 32.1%. Cash from operating activities was $693.4 million for the nine months. A significant subsequent event is the October 31, 2016 acquisition of iSqFt Parent Corp. (d/b/a ConstructConnect) for $631 million in cash, which will be reported in the RF Technology segment. The company expects its 2016 effective tax rate to be approximately 30%.

    Nov 4, 2016
  32. 2016-Q2

    Roper Technologies Quarterly Report for Q2 Ended Jun 30, 2016

    Roper Technologies, Inc. reported second-quarter 2016 net sales of $931.6 million, up from $889.5 million in the second quarter of 2015, and net earnings of $158.1 million, down from $171.3 million. Diluted earnings per share were $1.54 versus $1.69 a year earlier. For the six months ended June 30, 2016, net sales were $1.83 billion and net earnings were $309.5 million. The filing attributes the quarter's sales increase to acquisitions, which added 7% of growth, while organic growth was negative 2%. Operating margin declined in the quarter, with higher SG&A expenses, interest expense rising to $26.9 million from $20.2 million, and an effective tax rate of 29.7% compared with 25.6% a year earlier, which was affected by a discrete $15.9 million tax benefit recorded in the second quarter of 2015. The balance sheet shows total debt of $3.1 billion at June 30, 2016, down from $3.3 billion at December 31, 2015, after net revolver repayments of $180 million in the six months. Cash fell to $622.3 million from $778.5 million, and net debt to total net capital was 30.9%. Cash provided by operating activities was $376.8 million for the six months, down from $432.9 million. Roper completed three acquisitions in the first half of 2016 for an aggregate purchase price of $283 million, including CliniSys, PCI Medical and GeneInsight, all reported in the Medical & Scientific Imaging segment. Order backlog was $1.14 billion at June 30, 2016, up from $1.06 billion a year earlier. By segment, Medical & Scientific Imaging and RF Technology grew sales, while Industrial Technology and Energy Systems & Controls declined. Energy Systems & Controls sales fell 15% in the quarter on lower oil and gas product demand. The company expects its 2016 effective tax rate to be approximately 30%.

    Aug 5, 2016
  33. 2016-Q1

    Roper Technologies Quarterly Report for Q1 Ended Mar 31, 2016

    Roper Technologies, Inc. reported first-quarter 2016 net sales of $902.4 million, up 4.3% from $865.3 million in the first quarter of 2015, with net earnings of $151.4 million compared with $155.8 million a year earlier. Diluted EPS was $1.48 versus $1.54. Growth was driven by acquisitions, which added 8% to net sales, while organic growth was negative 3% and foreign exchange was a 1% headwind. Segment results were mixed: Medical & Scientific Imaging (up 13.9%) and RF Technology (up 15.3%) grew, while Industrial Technology (down 10.2%) and Energy Systems & Controls (down 15.1%) declined on weaker oil and gas demand. Selling, general and administrative expenses rose to 31.6% of sales from 28.7%, and interest expense increased to $27.4 million from $19.8 million. Cash flow and balance sheet activity reflected acquisitions and debt reduction. Cash from operations fell 20% to $207.1 million, partly due to an income tax payment tied to the Abel Pumps sale, while the company spent $265.2 million on acquisitions, including CliniSys and PCI Medical. Net debt payments totaled $160 million, bringing total debt to $3.13 billion from $3.29 billion at year-end 2015. Net debt to total net capital was 32.4%, up from 32.1%. Net orders rose to $927 million from $849 million, and the order backlog reached $1.12 billion, up 7%. The filing also notes that the company early adopted an accounting standard on share-based payments, which lowered its effective tax rate to 30.4% from 31.2% and is expected to create tax-rate volatility going forward. The company expects its 2016 effective tax rate to be approximately 30%.

    May 6, 2016
  34. 2015-Q3

    Roper Technologies Quarterly Report for Q3 Ended Sep 30, 2015

    Roper Technologies, Inc. (filed as Roper Industries, Inc. until its April 24, 2015 name change) reported third-quarter 2015 net sales of $883.9 million, flat with $884.1 million in the prior-year quarter. Net earnings rose to $160.4 million from $155.5 million, and diluted EPS was $1.58 versus $1.54. For the nine months, net sales were $2.64 billion and net earnings were $487.5 million, compared with $460.1 million a year earlier. The filing states that acquisitions added 5% to third-quarter sales, organic growth was negative 2%, and foreign exchange was a negative 3%. Segment performance was mixed. Medical & Scientific Imaging grew net sales 11.5% to $299.6 million with operating margin of 36.2%, while Industrial Technology (down 9.5%) and Energy Systems & Controls (down 15.3%) declined on weaker oil and gas demand. Cash provided by operating activities rose to $659.6 million for the nine months, and total debt increased to $2.80 billion from $2.21 billion at year-end 2014, funding $1.02 billion of acquisitions in the first nine months. Net debt to total net capital was 29.0%, up from 25.2% at December 31, 2014. Subsequent events are significant: Roper acquired Aderant Holdings for $695 million in cash on October 21, 2015, and Atlas Database Software for $48 million on October 26, 2015. It also agreed to acquire Clinisys Group for £170 million, expected to close in the first quarter of 2016, and sold Abel Pumps for €95 million on October 2, 2015.

    Nov 3, 2015
  35. 2015-Q2

    Roper Technologies Quarterly Report for Q2 Ended Jun 30, 2015

    Roper Technologies, Inc. (filed as Roper Industries, Inc. until its name change effective April 24, 2015) reported net sales of $889.5 million for the quarter ended June 30, 2015, up 0.5% from $885.2 million a year earlier, with acquisitions adding 4% and foreign exchange reducing sales by 3%. Net earnings rose to $171.3 million from $157.4 million, and diluted EPS was $1.69 versus $1.56. Income taxes were helped by a discrete $15.9 million tax benefit in the quarter, and the company expects a 2015 effective tax rate of 30% to 31%. For the six months, net sales were $1.75 billion and net earnings were $327.1 million. Segment performance was mixed. Medical & Scientific Imaging grew net sales 12% to $302 million, led by acquisitions, while Industrial Technology fell 9% and Energy Systems & Controls fell 12%, both reflecting weakness in oil and gas-related products. RF Technology rose 4% to $256 million. Net orders were $881 million in the quarter, and order backlog was relatively unchanged year over year. The balance sheet grew more leveraged. In the first quarter, the company acquired Strata Decision Technology, SoftWriters and Data Innovations for $590 million in cash. Total debt rose to $2.52 billion from $2.21 billion at year-end 2014, with $315 million drawn on the revolving credit facility, and net debt to total net capital was 26.9%, up from 25.2%. Operating cash flow rose 23% to $433 million for the six months. A subsequent event was the July 20, 2015 acquisition of On Center Software for $157 million in cash.

    Aug 6, 2015
  36. 2015-Q1

    Roper Technologies Quarterly Report for Q1 Ended Mar 31, 2015

    Roper Technologies, Inc. (filed as Roper Industries, Inc., which changed its name effective April 24, 2015) reported first-quarter 2015 net sales of $865.3 million, up 3.7% from $834.1 million a year earlier. Net earnings rose to $155.8 million from $147.2 million, and diluted EPS was $1.54 versus $1.46. Income from operations increased to $246.9 million from $223.4 million. The filing attributes the sales increase to organic growth of 5%, offset by a negative foreign exchange impact of 3%, with a net 2% contribution from acquisitions and divestitures. Gross margin improved to 59.9% from 58.6%. The quarter was driven by the Medical & Scientific Imaging segment, where net sales rose 13.9% to $291.7 million and operating margin reached 36.9%. Energy Systems & Controls declined 9.8% on weaker oil and gas demand and currency effects. Operating cash flow increased 22% to $260.4 million. The company spent $589.6 million on acquisitions, including Strata Decision Technology, SoftWriters and Data Innovations, all reported in the Medical & Scientific Imaging segment, funded largely by borrowings under its revolving credit facility. Total debt rose to $2.63 billion at March 31, 2015 from $2.21 billion at December 31, 2014, and net debt to total net capital increased to 29.5% from 25.2%. Accumulated other comprehensive loss widened to $165.0 million, driven by a $92.0 million foreign currency translation adjustment, and comprehensive income fell to $62.7 million from $134.4 million. The company's order backlog at March 31, 2015 was $1.04 billion, 2% lower than a year earlier.

    May 6, 2015
  37. 2014-Q3-A

    Roper Technologies Quarterly Report (Amendment) for Q3 Ended Sep 30, 2014

    Roper Industries, Inc. (now Roper Technologies, Inc.) filed this Amendment No. 1 on Form 10-Q/A to correct its quarterly report for the period ended September 30, 2014. The original Form 10-Q was filed with the SEC on November 5, 2014. The amendment's stated purpose is to correctly report the number of shares outstanding as of October 24, 2014, because the figure originally reported did not properly reflect the effect of treasury shares. The corrected count of common stock outstanding as of October 24, 2014 is 100,157,535 shares. The filing states that it does not reflect subsequent events or modify or update the financial statements or disclosures in the original Form 10-Q. Its substantive content is therefore limited to the share count correction and the accompanying exhibits. The exhibits filed with this amendment are the Rule 13a-14(a)/15d-14(a) certifications of the Chief Executive Officer and Chief Financial Officer, a Section 1350 certification of the Chief Executive and Chief Financial Officers, and XBRL instance and taxonomy documents.

    Nov 12, 2014
  38. 2014-Q3

    Roper Technologies Quarterly Report for Q3 Ended Sep 30, 2014

    Roper Industries, Inc. reported net sales of $884.1 million for the third quarter ended September 30, 2014, up from $827.8 million a year earlier, with the filing stating organic growth of 5% and acquisitions contributing 2%. Net earnings rose to $155.5 million from $136.3 million, and diluted earnings per share were $1.54 compared with $1.36. For the nine months, net sales were $2.60 billion versus $2.35 billion, and net earnings were $460.1 million versus $372.6 million, with diluted EPS of $4.56 compared with $3.72. Operating cash flow for the nine months was $579.2 million, and the company used $305.3 million for business acquisitions during the period, including three acquisitions made in the quarter (Foodlink, SHP and IPA). The balance sheet strengthened over the period. Total debt fell to $2.37 billion from $2.46 billion at December 31, 2013, and net debt to total net capital declined to 28.0% from 32.2%. Cash and cash equivalents rose to $564.1 million, and stockholders' equity increased to $4.65 billion. Management expects the 2014 effective tax rate to be approximately 31%. Net orders in the quarter were $893 million, 7% higher than the prior year, and order backlog at quarter-end was 3% higher year over year. The filing also notes a $63 million pretax decrease in the foreign exchange component of comprehensive earnings for the quarter, as European currencies and the Canadian dollar weakened against the U.S. dollar. Management reported no material changes in market risk or internal controls, and stated that legal proceedings, including asbestos-related claims, are not expected to have a material adverse effect on the company's financial position.

    Nov 5, 2014
  39. 2014-Q2

    Roper Technologies Quarterly Report for Q2 Ended Jun 30, 2014

    Roper Industries, Inc. reported second-quarter 2014 net sales of $885.2 million, up 12.9% from $784.0 million in the prior-year quarter, with organic growth of 8% and sales from 2013 acquisitions adding 5%. Gross profit rose to $523.2 million, and income from operations increased to $246.7 million from $179.7 million. Net earnings for the quarter were $157.4 million, or $1.56 per diluted share, compared with $111.4 million, or $1.11 per diluted share, a year earlier. Net sales for the six months ended June 30, 2014 were $1.72 billion, and net earnings were $304.6 million. The Medical & Scientific Imaging segment was the standout performer, with quarterly net sales rising 29.3% to $268.9 million and operating margin reaching 35.1% versus 22.9% a year earlier. The company also reported that its Industrial Technology, Energy Systems & Controls and RF Technology segments all grew sales in the quarter. Net orders were $873.9 million, up from $816.5 million, and backlog at June 30, 2014 was $1.05 billion. On the balance sheet, total debt fell to $2.24 billion from $2.46 billion at December 31, 2013, funded by operating cash flow of $353.1 million for the six months. Net debt to total net capital declined to 27.0% from 32.2%. The company expects a 2014 effective tax rate of approximately 31% and said it intends to keep reducing debt, while maintaining an active acquisition program.

    Aug 6, 2014
  40. 2014-Q1

    Roper Technologies Quarterly Report for Q1 Ended Mar 31, 2014

    Roper Industries, Inc. reported net sales of $834.1 million for the three months ended March 31, 2014, up from $737.1 million in the prior-year quarter, with the filing stating that the increase reflected organic growth of 8% and sales from 2013 acquisitions of 5%. Gross profit rose to $488.9 million from $421.6 million, and net earnings increased to $147.2 million from $124.9 million. Diluted earnings per share were $1.46 compared with $1.25 a year earlier. Medical & Scientific Imaging was the standout segment, with net sales up 27.8% and operating margin rising to 35.0% from 29.9%. Cash generation was strong, with cash provided by operating activities of $212.6 million compared with $171.3 million in the prior-year quarter. The company used $150 million to net repay its revolving credit line and paid $19.9 million in cash dividends. Total debt fell to $2.32 billion at March 31, 2014 from $2.46 billion at December 31, 2013, and net debt to total net capital declined to 29.4% from 32.3%. The filing states that the effective tax rate for 2014 is expected to be approximately 31%. Management also reported net orders of $846.5 million, up from $793.6 million, and an order backlog of $1.06 billion, and said there were no material changes to its market risk disclosures or internal controls during the quarter.

    May 2, 2014
  41. 2013-Q3

    Roper Technologies Quarterly Report for Q3 Ended Sep 30, 2013

    Roper Industries, Inc., now Roper Technologies, Inc., reported net sales of $827.8 million for the quarter ended September 30, 2013, up 11% from $747.6 million a year earlier. The company attributed the increase to 3% organic growth and an 8% contribution from acquisitions. Net earnings rose to $136.3 million from $116.7 million, and diluted earnings per share were $1.36 compared with $1.17. For the nine months, net sales were $2.35 billion versus $2.18 billion, and net earnings were $372.6 million versus $339.8 million. The Medical & Scientific Imaging segment drove much of the growth, with third-quarter sales up 38% to $237.3 million, largely from the May 1, 2013 acquisition of Managed Health Care Associates, Inc. (MHA) for $1.0 billion in cash. Net orders were $838.3 million for the quarter, up from $719.7 million, and the order backlog at September 30, 2013 was up 7% year over year. Operating cash flow for the nine months was $566.8 million, compared with $466.2 million. Leverage increased. Total debt was $2.61 billion at September 30, 2013, compared with $2.02 billion at December 31, 2012, and net debt to total net capital was 34.6%, up from 30.9%. The company issued $800 million of 2.05% senior notes due 2018 in June 2013 and repaid $500 million of senior notes that matured in August 2013 using its revolving credit facility, which had $390 million outstanding at quarter end. The company also recorded a $9.1 million warranty charge in the second quarter related to a vendor-supplied refrigeration valve component.

    Nov 8, 2013
  42. 2013-Q2

    Roper Technologies Quarterly Report for Q2 Ended Jun 30, 2013

    Roper Industries, Inc. reported net sales of $784.0 million for the quarter ended June 30, 2013, up 8.2% from $724.9 million a year earlier, with acquisitions contributing 7.9% and organic growth 0.5%. Net earnings were $111.4 million, or $1.11 diluted per share, versus $114.8 million, or $1.15 diluted per share, in the prior-year quarter. Gross margin rose to 56.8% from 54.9%, but SG&A rose to 31.3% of sales from 27.8%, driven largely by the Medical & Scientific Imaging acquisition of Managed Health Care Associates (MHA) and a $9.1 million warranty charge at Hansen Technologies. Interest expense increased to $22.4 million from $15.1 million. For the six months, net sales were $1.52 billion, up 5.9%, and net earnings were $236.3 million, up from $223.1 million. Operating cash flow was $311.0 million, compared with $260.8 million a year earlier. Cash used in investing activities was $1.03 billion, mainly for the $1.0 billion all-cash acquisition of MHA completed May 1, 2013. Total debt rose to $2.76 billion at June 30, 2013 from $2.02 billion at December 31, 2012, and net debt to total net capital increased to 38.0% from 30.9%. The company issued $800 million of 2.05% senior notes due 2018 in June 2013 and intends to use revolver borrowings to repay $500 million of senior notes maturing August 15, 2013. Order backlog was $1.03 billion, up 17% from a year earlier, mainly due to acquisitions.

    Aug 7, 2013
  43. 2013-Q1-A

    Roper Technologies Quarterly Report (Amendment) for Q1 Ended Mar 31, 2013

    Roper Industries, Inc. reported net sales of $737.1 million for the quarter ended March 31, 2013, up from $711.1 million a year earlier, an increase of 4%. The increase reflected acquisitions contributing 7% and negative organic growth of 3%. Net earnings rose to $124.9 million from $108.3 million, and diluted EPS was $1.25 versus $1.09. Growth was uneven across segments: Medical & Scientific Imaging sales rose 23% to $200.4 million, while Industrial Technology fell 6.6% to $182.2 million. Cash generation and balance sheet strength were key positives. Cash provided by operating activities increased 21.1% to $171.3 million, and total debt fell to $1.92 billion from $2.02 billion at December 31, 2012, funded by operating cash flow. Net debt to total net capital improved to 28.3% from 30.9%. Net orders were $793.6 million, 9% higher than the prior year, and order backlog was 17% higher. The filing also disclosed a subsequent event: on May 1, 2013, the company acquired Managed Health Care Associates, Inc. (MHA) in an all-cash transaction valued at $1.0 billion. Foreign currency translation weighed on comprehensive income, which fell to $86.4 million from $127.5 million, and the company said a $40 million pretax foreign exchange decrease affected comprehensive earnings in the quarter.

    May 10, 2013
  44. 2013-Q1

    Roper Technologies Quarterly Report for Q1 Ended Mar 31, 2013

    Roper Industries, Inc. reported net sales of $737.1 million for the quarter ended March 31, 2013, up from $711.1 million a year earlier, an increase the filing attributes to acquisitions of 7% offset by negative organic growth of 3%. Net earnings rose to $124.9 million from $108.3 million, and diluted EPS was $1.25 compared with $1.09. Operating profit at the segment level was $205.2 million versus $186.9 million, and the Medical & Scientific Imaging segment was the standout, with net sales up 23% and operating margin rising to 29.9% from 26.6%. Industrial Technology sales fell 6.6% on the loss of a water metering customer and weaker materials testing. Cash flow and balance sheet trends were favorable. Cash provided by operating activities increased 21.1% to $171.3 million, and the company repaid $100 million under its revolving line of credit. Total debt fell to $1.92 billion from $2.02 billion at year-end 2012, and net debt as a percentage of total net capital declined to 28.3% from 30.9%. Comprehensive income was $86.4 million, reduced by a $38.5 million foreign currency translation loss as European and Canadian currencies weakened against the U.S. dollar. After the quarter, on May 1, 2013, Roper acquired Managed Health Care Associates, Inc. (MHA) in an all-cash transaction valued at $1.0 billion. The filing reports no material changes to market risk or critical accounting policies, and management concluded that disclosure controls are effective.

    May 9, 2013
  45. 2012-Q3

    Roper Technologies Quarterly Report for Q3 Ended Oct 31, 2012

    Roper Industries, Inc. reported third-quarter 2012 net sales of $747.6 million, up from $712.7 million a year earlier, with net earnings of $116.7 million versus $110.3 million. Diluted earnings per share were $1.17 compared with $1.12. For the nine months ended September 30, 2012, net sales were $2.18 billion and net earnings were $339.8 million, with diluted EPS of $3.41. The filing attributes the quarterly sales increase to organic growth of 2% and a 4% contribution from acquisitions, partly offset by a 1% foreign exchange impact. Segment operating profit rose 14.1% in the quarter to $207.7 million, led by Industrial Technology and Medical & Scientific Imaging. The most significant development is the August 22, 2012 acquisition of Sunquest Information Systems, Inc. for a $1.416 billion all-cash transaction, funded mainly by borrowings under the revolving credit line. Total debt rose to $2.10 billion at September 30, 2012 from $1.09 billion at December 31, 2011, and net debt to total net capital increased to 32.8% from 18.9%. In July 2012 the company replaced its $750 million facility with a five-year $1.5 billion unsecured revolving credit facility, of which $1.05 billion was outstanding at quarter end. Goodwill and intangible assets grew substantially, to $3.87 billion and $1.71 billion respectively. Operating cash flow was $466.2 million for the nine months, up from $409.1 million. Management stated it expects acquired and existing businesses to generate cash that will reduce debt, though the pace of debt reduction and interest expense savings depends on acquisition financing needs and operating performance. The company also reported $6.4 million of Sunquest transaction costs expensed in corporate G&A, and a $1.0 million non-cash debt extinguishment charge tied to the termination of the prior facility.

    Nov 5, 2012
  46. 2012-Q2

    Roper Technologies Quarterly Report for Q2 Ended Jun 30, 2012

    Roper Industries, Inc. reported second-quarter 2012 net sales of $724.9 million, up from $699.9 million in the prior-year quarter, with the filing attributing the increase to organic growth of 3% and a 2% contribution from acquisitions, partly offset by a negative 1.5% foreign exchange impact. Net earnings rose to $114.8 million from $106.3 million, and diluted earnings per share were $1.15 versus $1.08. For the six months ended June 30, 2012, net sales were $1.44 billion and net earnings were $223.1 million, compared with $195.3 million a year earlier. Income from operations for the quarter was $178.8 million, and the effective tax rate fell to 29.6% from 31.4%. Balance sheet and cash flow strengthened over the period. Cash and cash equivalents rose to $518.9 million from $338.1 million at December 31, 2011, and total debt declined to $1.07 billion from $1.09 billion. Net debt to total net capital fell to 13.9% from 18.9%. Operating cash flow for the six months was $260.8 million, and the company paid $19.1 million in redemption premiums on convertible debt during the period. Net orders for the quarter were $763.5 million, 8% above the prior-year quarter, and order backlog was up 1% year over year. Subsequent to the quarter, Roper entered into a $1.5 billion senior unsecured revolving credit facility maturing July 27, 2017, replacing its prior facility. On July 28, 2012, the company also agreed to acquire Sunquest Information Systems, Inc. in an all-cash transaction valued at $1.415 billion, including approximately $25 million in cash tax benefits, subject to regulatory approval and customary closing conditions.

    Aug 8, 2012
  47. 2012-Q1

    Roper Technologies Quarterly Report for Q1 Ended Mar 31, 2012

    Roper Industries, Inc. (now Roper Technologies, Inc.) reported first-quarter 2012 net sales of $711.1 million, up from $645.3 million a year earlier, an increase of 10.2%. The company attributed the growth to organic growth of 8%, a 3% contribution from acquisitions and a negative 1% foreign exchange impact. Income from operations rose to $170.3 million from $142.0 million, and net earnings increased to $108.3 million from $89.0 million. Diluted earnings per share were $1.09 compared with $0.91. Growth was led by the Industrial Technology segment (sales up 14.8%) and the Energy Systems & Controls segment (up 14.6%), with the Medical & Scientific Imaging and RF Technology segments also higher. Cash generation and balance sheet metrics improved. Cash provided by operating activities increased 63.4% to $141.5 million, and cash and cash equivalents ended the quarter at $451.7 million. Net debt fell to $626.0 million, and the net debt to total net capital ratio declined to 15.8% from 18.9% at December 31, 2011. Total debt was $1.08 billion. Net orders were $729.4 million, 4% higher than the prior-year quarter, and the order backlog was $850.6 million, relatively unchanged year over year. During the quarter the company acquired Shanghai Hao Ying Measurement & Control Technology Co, Ltd. (January 5, 2012) and Cambridge Viscosity, Inc. (February 27, 2012), both reported in the Energy Systems & Controls segment. The filing notes that current geopolitical uncertainties could affect business prospects, and that future acquisitions and the pace of debt reduction depend on numerous factors that cannot be predicted with certainty.

    May 7, 2012
  48. 2011-Q3

    Roper Technologies Quarterly Report for Q3 Ended Sep 30, 2011

    Roper Industries, Inc. reported third-quarter 2011 net sales of $712.7 million, up from $605.1 million a year earlier, and net earnings of $110.3 million versus $84.3 million. Diluted earnings per share were $1.12 compared with $0.87. Growth came from organic sales growth of 13%, a 3% contribution from acquisitions and 2% from foreign exchange. For the nine months, net sales reached $2.06 billion (up from $1.71 billion) and net earnings were $305.6 million (up from $215.3 million). Diluted EPS for the nine months was $3.11 versus $2.23. Segment operating profit rose 28.3% in the quarter, with the RF Technology segment showing the strongest margin improvement. Net orders for the quarter were $718.6 million, 10% higher than the prior year, and order backlog at September 30, 2011 was up 14% year over year. Acquisitions during 2011 included Northern Digital, Inc. (purchase price $205 million U.S. dollars, recorded in the Medical and Scientific Imaging segment) and United Controls Group, Inc. ($23 million cash, Energy Systems and Controls segment). Balance sheet and cash flow improved. Total debt fell to $1.17 billion from $1.34 billion at December 31, 2010, funded by operating cash flow, which was $409.1 million for the nine months versus $344.4 million a year earlier. Cash and cash equivalents were $246.5 million at quarter end. The company reported an effective tax rate of 27.7% for the quarter and stated it was in compliance with all debt covenants.

    Nov 2, 2011
  49. 2011-Q2

    Roper Technologies Quarterly Report for Q2 Ended Jun 30, 2011

    Roper Industries, Inc. reported second-quarter 2011 net sales of $699.9 million, up from $567.1 million in the prior-year quarter, with net earnings of $106.3 million versus $71.3 million. Diluted earnings per share were $1.08 compared with $0.74. The filing attributes the sales increase to organic growth of 16%, a 4% contribution from acquisitions and 3% from foreign exchange. For the six months ended June 30, 2011, net sales were $1.35 billion and net earnings were $195.3 million, with diluted EPS of $1.99. Net orders for the quarter were $707.7 million, up 14% from $619.3 million, and order backlog at June 30, 2011 was up 36% year over year. The key corporate event in the period was the June 3, 2011 acquisition of Northern Digital, Inc. (NDI), a provider of 3-D measurement technology for medical applications, for $205 million U.S. dollars, which was recorded in the Medical and Scientific Imaging segment. The acquisition produced $135 million of goodwill and $74 million of other identifiable intangible assets. Cash used in investing activities for the six months was $224.2 million, mostly acquisitions, and total debt declined to $1.25 billion from $1.34 billion at year-end 2010 as operating cash flow of $242.5 million was used to repay debt. The filing reports effective controls and no material changes to internal control over financial reporting. Management stated that it was in compliance with all debt covenants and that the company has no unconsolidated or special purpose entities. The company also disclosed that it is a defendant in some asbestos-related cases, which it believes it can defend, and that it is not possible to determine potential liability in those cases.

    Aug 8, 2011
  50. 2011-Q1

    Roper Technologies Quarterly Report for Q1 Ended Mar 31, 2011

    Roper Industries, Inc. (now Roper Technologies, Inc.) reported net sales of $645.3 million for the quarter ended March 31, 2011, up 21% from $534.4 million in the prior-year quarter. The filing attributes the increase to internal growth of 17% and a 4% contribution from 2010 acquisitions. Net earnings rose to $89.0 million from $59.7 million, and diluted earnings per share were $0.91 compared with $0.62. Gross margin improved to 54.3% from 52.3%, and segment operating profit was 24.1% of sales versus 21.0%. All four segments grew sales, with Industrial Technology up 25.6% and Energy Systems & Controls up 22.7%. Net orders were $702.3 million, 24% higher than the prior-year quarter, and order backlog at March 31, 2011 was up 43% year over year to $851.2 million. Cash provided by operating activities decreased 8.9% to $86.6 million, which the company attributed to higher inventory and receivables tied to the timing of sales and orders. Total debt fell to $1.24 billion from $1.34 billion at December 31, 2010, and net debt to total net capital declined to 25.4% from 28.0%. Management stated that it was in compliance with all debt covenants during the quarter. The filing also notes $220 million...

    May 5, 2011