Dover Reports Record Second Quarter 2007 Results
NEW YORK, July 25 /PRNewswire-FirstCall/ -- Dover Corporation (NYSE: DOV) announced today that for the second quarter ended June 30, 2007, it had earnings from continuing operations of $175.1 million or $0.85 diluted earnings per share ("EPS"), compared to $158.8 million or $0.77 EPS from continuing operations in the prior-year period, both representing increases of 10%. Revenue for the second quarter of 2007 was $1.859 billion, an increase of 12% over the prior-year period.
Earnings from continuing operations for the six months ended June 30, 2007 were $314.0 million or $1.52 EPS, compared to $290.1 million or $1.41 EPS in the prior-year period, both representing increases of 8%. Revenue for the six month period ended June 30, 2007 was $3.639 billion, up 15% over the prior year period.
Net earnings for the second quarter of 2007 were $172.2 million or $0.84 EPS, including a loss from discontinued operations of $2.9 million or $0.01 EPS, compared to net earnings of $71.9 million or $0.35 EPS for the same period of 2006, which included a loss from discontinued operations of $86.8 million or $0.42 EPS. Net earnings for the six months ended June 30, 2007 were $301.1 million or $1.46 EPS, including a loss from discontinued operations of $12.8 million or $0.06 EPS, compared to net earnings of $275.7 million or $1.34 EPS for the same period of 2006, which included a loss from discontinued operations of $14.3 million or $0.07 EPS.
Dover will host a webcast of its second quarter 2007 conference call at 8:00 AM Eastern Time on Wednesday, July 25, 2007. The webcast can be accessed at the Dover Corporation website at www.dovercorporation.com. The conference call will also be made available for replay on the website and additional information on Dover's second quarter 2007 results and its operating companies can also be found on the Company website and in the Company's Form 10-Q filed after this release.
Dover Corporation is a diversified global manufacturer of value-added products and components that serves a variety of industrial and commercial markets including energy, defense, telecommunications, product identification, waste management and refrigeration systems. For over 50 years, Dover has been providing its customers -- in over 100 countries -- with outstanding products and services that reflect the company's commitment to operational excellence, innovation and market leadership. Today, Dover encompasses 40 operating companies with over 33,000 employees in 37 countries around the world. Headquartered in New York, the company generated over $6.5 billion in revenue in 2006. For more information, please visit www. www.dovercorporation.com.
SOURCE: Dover Corporation
CONTACT: Paul Goldberg, Treasurer & Director of Investor Relations,
Web site: http://www.dovercorporation.com