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Roper Industries Inc, USA
COMPANY PROFILE
Roper Industries Inc, USA Profile
Roper Industries is a diversified growth company that designs, manufactures and distributes energy systems and controls, scientific and industrial imaging products and software, industrial technology products and radio frequency products and services. The company has four operating segments: Medical and Scientific Imaging; Energy Systems and Controls; Industrial Technology; and RF Technology. Roper’s Industrial Technology segment, which represented 26.6% of total group sales in 2012, produces fluid handling pumps, equipment and consumables for materials analysis, leak testing equipment, flow measurement and metering equipment and water meter and automatic meter reading (AMR) products and systems. Pump businesses include Abel, Cornell, Roper Pump and Hansen. Their pumps are used to pump a diverse range of liquids and solids including low and high viscosity liquids, high solids content slurries and chemicals in end markets such as oil and gas, agricultural, water and wastewater, chemical and general industrial. Analysis
Roper Industries’ 2012 net sales were almost US$3 billion compared with sales of US$2.8 billion in 2011, an increase of 7%. The increase was the result of organic sales growth of 4%, contributions from acquisitions of 4% and an unfavourable effect from foreign exchange of 1%. 2012 net sales for the Industrial Technology segment increased by US$57.9 million or 8% to US$795.2 million over 2011. The increase was due to broad-based growth in nearly all businesses in the segment, with particular strength in the materials testing and fluid handling businesses, offset in part by a negative 2% impact from foreign exchange.
COMMENT While acquisitions have been a central part of Roper Industries’ growth strategy since the company was formed in 1981, it is some time since Roper made a purchase in the pump space. Roper says its acquisition pipeline remains attractive and that it intends to seek additional acquisition opportunities, both to expand into new markets and to enhance its position in existing markets. ■
Key Figures (US$ million) Roper Industries Inc 2012
2011
Net Sales Of Which: Industrial Technology
2993.5
2797.1
795.2
Cost of Sales Gross Profit
Year ended 31.12 2010
2009
2008
2386.1
2049.7
2306.4
737.4
607.6
–
–
1321.8
1281.5
1111.0
–
–
1671.7
1515.6
1275.1
1043.1
1188.3
Income from Operations
757.6
660.5
514.3
395.4
486.2
Net Earnings
483.4
427.2
322.6
239.5
281.9
Research & Development
125.9
121.7
102.4
–
–
Capital Expenditures Of Which: Industrial Technology
38.4
40.7
28.6
–
–
14.0
11.2
8.8
–
–
No of Employees
9475
–
–
–
–
Orders Received Of Which: Industrial Technology
2991.7
2823.2
2536.2
–
–
783.4
767.0
669.9
–
–
Order Backlog Of Which: Industrial Technology
947.2
828.3
785.4
–
–
131.6
141.8
114.0
–
–
Contact Details
Roper Industries Inc Chairman & CEO: Address:
6
Pump Industry Analyst
Brian Jellison 6901 Professional Parkway East Sarasota Florida 34240 USA
Tel: +1 941 556 2601 Web: www.roperind.com
July 2013
Roper Industries Inc, USA Profile
Roper Industries is a diversified growth company that designs, manufactures and distributes energy systems and controls, scientific and industrial imaging products and software, industrial technology products and radio frequency products and services. The company has four operating segments: Medical and Scientific Imaging; Energy Systems and Controls; Industrial Technology; and RF Technology. Roper’s Industrial Technology segment, which represented 26.6% of total group sales in 2012, produces fluid handling pumps, equipment and consumables for materials analysis, leak testing equipment, flow measurement and metering equipment and water meter and automatic meter reading (AMR) products and systems. Pump businesses include Abel, Cornell, Roper Pump and Hansen. Their pumps are used to pump a diverse range of liquids and solids including low and high viscosity liquids, high solids content slurries and chemicals in end markets such as oil and gas, agricultural, water and wastewater, chemical and general industrial. Analysis
Roper Industries’ 2012 net sales were almost US$3 billion compared with sales of US$2.8 billion in 2011, an increase of 7%. The increase was the result of organic sales growth of 4%, contributions from acquisitions of 4% and an unfavourable effect from foreign exchange of 1%. 2012 net sales for the Industrial Technology segment increased by US$57.9 million or 8% to US$795.2 million over 2011. The increase was due to broad-based growth in nearly all businesses in the segment, with particular strength in the materials testing and fluid handling businesses, offset in part by a negative 2% impact from foreign exchange.
COMMENT While acquisitions have been a central part of Roper Industries’ growth strategy since the company was formed in 1981, it is some time since Roper made a purchase in the pump space. Roper says its acquisition pipeline remains attractive and that it intends to seek additional acquisition opportunities, both to expand into new markets and to enhance its position in existing markets. ■
Key Figures (US$ million) Roper Industries Inc 2012
2011
Net Sales Of Which: Industrial Technology
2993.5
2797.1
795.2
Cost of Sales Gross Profit
Year ended 31.12 2010
2009
2008
2386.1
2049.7
2306.4
737.4
607.6
–
–
1321.8
1281.5
1111.0
–
–
1671.7
1515.6
1275.1
1043.1
1188.3
Income from Operations
757.6
660.5
514.3
395.4
486.2
Net Earnings
483.4
427.2
322.6
239.5
281.9
Research & Development
125.9
121.7
102.4
–
–
Capital Expenditures Of Which: Industrial Technology
38.4
40.7
28.6
–
–
14.0
11.2
8.8
–
–
No of Employees
9475
–
–
–
–
Orders Received Of Which: Industrial Technology
2991.7
2823.2
2536.2
–
–
783.4
767.0
669.9
–
–
Order Backlog Of Which: Industrial Technology
947.2
828.3
785.4
–
–
131.6
141.8
114.0
–
–
Contact Details
Roper Industries Inc Chairman & CEO: Address:
6
Pump Industry Analyst
Brian Jellison 6901 Professional Parkway East Sarasota Florida 34240 USA
Tel: +1 941 556 2601 Web: www.roperind.com
July 2013