Roper Industries (NYSE:ROP) surged to a 52-week high Monday after revealing a stronger-than-expected 49% gain in fourth-quarter profit, driven by record-high sales and orders.
The Sarasota, Fla.-based company posted net earnings of $107 million, or $1.10 a share, $71.9 million, or 77 cents a share, in the same quarter last year, ahead of average analyst estimates polled by Thomson Reuters of 99 cents.
Revenue for the maker of energy systems and controls, as well as industrial technology and radio frequency products, was $679 million, up 23% from $553.6 million a year ago, beating the Street’s view of $668.71 million.
“Roper achieved record performance in 2010 with the highest sales, orders, net earnings, EBITDA and cash flow in our history,” Brian Jellison, the company’s chief executive, said in a statement. “Our record performance reflects our strategy of growing high margin, asset light businesses with exceptional cash conversion characteristics.”
Looking ahead, Roper sees fiscal 2011 earnings in the range of $3.82 to $4.02 a share. Analysts are expecting earnings of $3.86.