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| Dover Corporation reports 3Q 2010 results Dover Corp announced that for the third quarter ended September 30, 2010, revenue was $1.9 billion, an increase of 26% over the prior-year period. The revenue increase was driven by organic growth of 25%, a 3% increase from acquisitions, and a 2% unfavorable impact from foreign exchange. Earnings from continuing operations for the third quarter of 2010 were $222.8 million or $1.18 diluted earnings per share ("EPS"), compared to $107.5 million or $0.58 diluted EPS from continuing operations in the prior year period, representing increases of 107% and 103%, respectively. Excluding the impact of tax benefits recognized in the quarter of $0.20, adjusted diluted EPS from continuing operations was $0.98, an increase of 69% over the prior year. The tax benefits of $0.20 diluted EPS were related to the favorable resolution of domestic and international tax positions and the recognition of a lower full-year tax rate. Revenue for the nine months ended September 30, 2010 was $5.3 billion, an increase of 23% over the prior year period, reflecting organic growth of 19%, a 4% increase from acquisitions, and an insignificant impact from foreign exchange. Earnings from continuing operations for the nine months ended September 30, 2010 were $516.1 million or $2.73 diluted EPS, compared to $269.5 million or $1.45 diluted EPS in the prior-year period, representing increases of 92% and 88%, respectively. Excluding the impact of tax benefits recognized in the third quarter of 2010 of $0.20 diluted EPS and the impact of tax benefits of $0.15 diluted EPS recognized in the second quarter of 2009, adjusted diluted EPS from continuing operations for the nine months ended September 30, 2010 was $2.53, an increase of 95% over the prior year period. write your comments about the article :: © 2010 Construction News :: home page |