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UPDATE 2-Dover Q4 profit beats estimates
January 25, 2012 / 12:15 PM / 6 years ago

UPDATE 2-Dover Q4 profit beats estimates

* Q4 EPS of $1.12 beats estimates of $1.03

* Sees 2012 EPS $4.70-$5

* Expects 2012 sales to grow 7-10 pct

Jan 25 (Reuters) - U.S. industrial conglomerate Dover Corp posted a higher-than-expected quarterly profit on strength in its energy and consumer electronics markets.

The company forecast 2012 earnings of $4.70-$5.00 a share from continuing operations, while analysts were estimating $4.82 a share, according to Thomson Reuters I/B/E/S.

It reaffirmed its 2012 revenue growth outlook of 7-10 percent. Analysts’ expectations of $8.65 billion represent a growth of 8 percent.

In December, Dover had said weakness in the semiconductor and European markets could impact 2012 results.

Downers Grove, Illinois-based Dover, valued at about $11 billion, makes a variety of products for the energy, communications, refrigeration, fluid solutions and product identification markets.

Its businesses range from industrial pumps to food packaging equipment, drilling tools to garbage trucks and microphones for consumer electronics.

Dover’s fourth-quarter net income was $278.3 million, or $1.49 a share, up from $198.3 million, or $1.04 a share, a year ago.

Earnings from continuing operations were $1.12 a share, including a tax benefit, above analysts’ estimates of $1.03 a share.

Revenue jumped 15 percent to $2 billion, slightly below expectations of $2.03 billion.

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