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Dover Expects Higher Earnings
NEW YORK, Dec. 1 /PRNewswire/ -- Dover Corporation (NYSE: DOV) announced today that orders for its Circuit Board Assembly and Test products (CBAT) have strengthened in October and November, following a slow September. Consequently, Dover expects that Fourth Quarter earnings will probably exceed current Wall Street estimates that center on $0.47 per share. Thomas L. Reece, Chairman and CEO, said, "At the start of the year we said we would be disappointed if earnings from continuing operations did not grow at least 15% from the $1.45 per share level of 1998. Thus far, the second half is stronger than we had hoped. A gain of 25%, or more, now seems achievable for the full year (excluding the $0.05 special gain reported in the third quarter)."
Dover does not normally comment on its EPS outlook, except in the context of its quarterly earnings releases. The company is making this announcement as a summary of remarks to be given later today at an Industry Investment Conference.
Dover Corporation is a diversified manufacturer of industrial products with more than $4 billion of sales.
SOURCE Dover Corporation
CONTACT: John F. McNiff, Vice President of Dover, 212-922-1640/