Dover posts higher profit on strong engineered systems demand

Thu Jan 30, 2014 7:17am EST

Jan 30 (Reuters) - Dover Corp, the maker of pumps, drill bits and other industrial products, posted a higher quarterly profit, helped by higher sales in its engineered systems business.

Net income from continuing operations rose to $210.8 million, or $1.22 per share, in the fourth quarter ended Dec. 31, from $208.2 million, or $1.16 per share, a year earlier.

Dover earned $1.28 per share, excluding Knowles spin-off costs of 9 cents and a tax benefit of 3 cents.

Revenue rose 10 percent to $2.2 billion. Sales from engineered systems, its largest business, rose 12 percent.

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