UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
______________________________________ 

FORM 8-K
________________________________
 
CURRENT REPORT
Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): April 17, 2013 
________________________________
 
DOVER CORPORATION
(Exact name of registrant as specified in its charter)
________________________________

 	
 	 	 	
State of Delaware	1-4018	53-0257888	
(State or other jurisdiction of incorporation)	 (Commission File Number)	(I.R.S. Employer Identification No.)	
 	 	 	
3005 Highland Parkway	 	 	
Downers Grove, Illinois	 	60515	
(Address of principal executive offices)	 	(Zip Code)	
(630) 541-1540
(Registrant’s telephone number, including area code)
 
______________________

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 	 	
¨	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)	
¨	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)	
¨	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))	
¨	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))	

 	

Item 2.02 Results of Operations and Financial Condition.
 
On April 17, 2013, Dover Corporation (i) issued the Press Release attached hereto as Exhibit 99.1 announcing its results of operations for the first quarter ended March 31, 2013; and (ii) posted on its website at
http://www.dovercorporation.com the presentation slides attached hereto as Exhibit 99.2 for the first quarter ended March 31, 2013.
 
The information in this Current Report on Form 8-K, including exhibits, is being furnished to the Securities and Exchange Commission (the “SEC”) and shall not be deemed to be incorporated by reference into any of Dover’s filings with the SEC under the Securities Act of 1933.

Item 9.01 Financial Statements and Exhibits.
 	 	
(a)	Financial statements of businesses acquired .	
Not applicable.
 	 	
(b)	Pro forma financial information .	
Not applicable.
 	 	
(c)	Shell company transactions .	
Not applicable.
 	 	
(d)	Exhibits.	
The following exhibits are furnished as part of this report:
 
99.1 Dover Corporation Press Release dated April 17, 2013.
99.2 Presentation Slides posted on Dover Corporation’s website at http://www.dovercorporation.com.

SIGNATURES
 
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this Current Report on Form 8-K to be signed on its behalf by the undersigned hereunto duly authorized.

 	 	 	 	
Date:	April 17, 2013	DOVER CORPORATION	 	
 	 	(Registrant)	 	
 	 	 	 	 	
 	 	By:	/s/ Ivonne M. Cabrera	 	
 	 	 	Ivonne M. Cabrera	 	
 	 	 	Senior Vice President, General Counsel & Secretary	 	

EXHIBIT INDEX

Number	 	Exhibit	
99.1	 	Press Release of Dover Corporation dated April 17, 2013	
 	 	 	
99.2	 	Presentation Slides posted on Dover Corporation’s website at http://www.dovercorporation.com	

Exhibit 99.1

 	
 	 	 	
CONTACT:	 	 	
Paul Goldberg	 	 	
Vice President - Investor Relations	 	 	
(212) 922-1640	 	 	

DOVER REPORTS FIRST QUARTER 2013 RESULTS; REAFFIRMS FULL- YEAR OUTLOOK
 	 	
•	Reports quarterly revenue of $2.0 billion, an increase of 4% over the prior year	
 	 	
•	Delivers quarterly diluted earnings per share from continuing operations of $1.12, an increase of 12% over last year	
 	 	
•	Achieves adjusted quarterly diluted earnings per share from continuing operations of $1.10, excluding tax benefits of $0.02, up 9% from an adjusted prior year	
 	 	
•	Reaffirms outlook for full year revenue growth at 7% to 9%, and diluted earnings per share from continuing operations of $5.05 to $5.35	

Downers Grove, Illinois, April 17, 2013 — Dover (NYSE: DOV) announced today that for the first quarter ended March 31, 2013, revenue was $2.0 billion, an increase of 4% over the prior-year period. The revenue increase was driven by a 6% increase from acquisitions offset by organic decline of 1% and a minor impact from foreign exchange. Earnings from continuing operations were $197.0 million, or $1.12 diluted earnings per share (“EPS”), compared to $186.4 million, or $1.00 EPS, in the prior-year period, representing increases of 6% and 12%, respectively. Excluding the impact of discrete tax items of $0.02 EPS recognized in the current quarter and $0.01 EPS recognized in the prior-year period, adjusted EPS from continuing operations for the first quarter of 2013 was $1.10, reflecting an increase of 9% over an adjusted EPS of $1.01 in the prior-year period.

Commenting on the first quarter results, Dover's President and Chief Executive Officer, Robert A. Livingston, said, “We were pleased with our first quarter results. We achieved solid revenue growth from our businesses serving the production and downstream energy markets and the consumer electronics market. These results helped offset the anticipated revenue decline driven by a lower North American rig count and reduced refrigeration activity, principally associated with a major retailer, as well as soft European industrial markets. In addition, our recently acquired refrigeration business, Anthony International, is off to a great start and we are enthusiastic about Dover's continued strength in that market. We also made progress on our $1 billion share repurchase program, repurchasing 4 million shares in the first quarter.”

“I am encouraged by our solid seasonal bookings growth as we begin the second quarter. In total, bookings grew 7% and resulted in a book-to-bill of 1.09.”

“Looking ahead, our full year view of 2013 is essentially unchanged from our previous guidance. We continue to expect full year organic growth of 3% to 5%, complemented by acquisition growth of 4%, resulting in total revenue growth of 7% to 9%. Accordingly, we are reaffirming our full year diluted EPS from continuing operations will be in the range of $5.05 - $5.35.”

Net earnings for the first quarter of 2013 were $210.0 million or $1.20 EPS, including earnings from discontinued operations of $13.0 million, or $0.07 EPS, compared to net earnings of $196.1 million, or $1.05 EPS, for the same period of 2012, which included earnings from discontinued operations of $9.7 million, or $0.05 EPS.

Dover will host a webcast of its first quarter 2013 conference call at 10:00 A.M. Eastern Time (9:00 A.M. Central Time) on Wednesday, April 17, 2013. The webcast can be accessed on the Dover website at www.dovercorporation.com. The conference call will also be made available for replay on the website. Additional information on Dover’s first quarter results and its operating segments can also be found on the Company’s website.

About Dover:

Dover is a diversified global manufacturer with annual revenues of over $8 billion. For over 50 years, Dover has been delivering outstanding products and services that reflect its market leadership and commitment to operational and technical excellence. The Company's entrepreneurial business model encourages, promotes and fosters deep customer engagement which has led to Dover's well-established and valued reputation for providing superior customer service and industry-leading product innovation. Dover focuses on innovative equipment and components, specialty systems and support services through its four major operating segments: Communication Technologies, Energy, Engineered Systems and Printing & Identification. Headquartered in Downers Grove, Illinois, Dover employs 35,000 people worldwide.   Dover is traded on the New York Stock Exchange under “DOV.” Additional information is available on our website at www.dovercorporation.com.

Forward-Looking Statement:

This press release contains “forward-looking” statements within the meaning of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. Such statements relate to, among other things, operating and strategic plans, income, earnings, cash flows, changes in operations, operating improvements, industries in which Dover businesses operate and the U.S. and global economies. Statements in this press release that are not historical are hereby identified as “ forward-looking statements ”  and may be indicated by words or phrases such as “ anticipates, ” “ expects, ” “ believes, ” “ indicates, ” “ suggests, ” “ will, ” “ plans, ” “ supports, ” “ projects, ” “ should, ” “ would, ” “ could, ” “ hope, ” “ forecast ”  and  “ management is of the opinion, ”  or the use of the future tense and similar words or phrases. Forward-looking statements are subject to inherent risks and uncertainties that could cause actual results to differ materially from current expectations, including, but not limited to, the state of the worldwide economy and sovereign credit, especially in Europe; political events that could impact the worldwide economy; the impact of natural disasters and their effect on global supply chains and energy markets; current economic conditions and uncertainties in the credit and capital markets; instability in countries where Dover conducts business; possible future terrorist threats and their effect on the worldwide economy; the ability of Dover ' s businesses to expand into new geographic markets and to anticipate and meet customer demands for new products and product enhancements; increased competition and pricing pressures in the markets served by Dover ' s businesses; the impact of loss of a single-source manufacturing facility; changes in customer demand or loss of a significant customer; the relative mix of products and services which impacts margins and operating efficiencies; short-term capacity constraints; increases in the cost of raw materials; domestic and foreign governmental and public policy changes including environmental regulations, conflict minerals disclosure requirements, and tax policies (including domestic and international export subsidy programs, R&E credits and other similar programs); protection and validity of patent and other intellectual property rights; the ability to identify and successfully consummate value-adding acquisition opportunities; Dover ' s ability to achieve expected savings from integration, synergy and other cost-control initiatives; unforeseen developments in contingencies such as litigation; international economic conditions including interest rate and currency exchange rate fluctuations; and a downgrade in Dover ' s credit ratings. Dover refers you to the documents that it files from time to time with the Securities and Exchange Commission, such as its reports on Form 10-K, Form 10-Q and Form 8-K, for a discussion of these and other risks and uncertainties that could cause its actual results to differ materially from its current expectations and from the forward-looking statements contained in this press release. Dover undertakes no obligation to update any forward-looking statement, except as required by law.

INVESTOR SUPPLEMENT - FIRST QUARTER 2013

DOVER CORPORATION
CONSOLIDATED STATEMENTS OF COMPREHENSIVE EARNINGS
(unaudited)(in thousands, except per share data)

 	Three Months Ended March 31,	
 	2013	 	2012	
Revenue	$	2,039,573	
 	 	$	1,954,614	
 	
Cost of goods and services	1,262,951	
 	 	1,208,534	
 	
Gross profit	776,622	
 	 	746,080	
 	
Selling and administrative expenses	484,421	
 	 	453,989	
 	
Operating earnings	292,201	
 	 	292,091	
 	
Interest expense, net	30,244	
 	 	30,031	
 	
Other (income) expense, net	(4,719	)	 	1,785	
 	
Earnings before provision for income taxes and discontinued operations	266,676	
 	 	260,275	
 	
Provision for income taxes	69,687	
 	 	73,866	
 	
Earnings from continuing operations	196,989	
 	 	186,409	
 	
Earnings from discontinued operations, net	13,014	
 	 	9,654	
 	
Net earnings	$	210,003	
 	 	$	196,063	

Comprehensive earnings	$	178,724	
 	 	$	237,305	

Basic earnings per common share:	 	 	 	
Earnings from continuing operations	$	1.14	
 	 	$	1.01	
 	
Earnings from discontinued operations, net	0.08	
 	 	0.05	
 	
Net earnings	1.21	
 	 	1.07	

Weighted average shares outstanding	173,448	 	183,737	
 	 	 	 	
Diluted earnings per common share:	 	 	 	
Earnings from continuing operations	$	1.12	
 	 	$	1.00	
 	
Earnings from discontinued operations, net	0.07	
 	 	0.05	
 	
Net earnings	1.20	
 	 	1.05	

Weighted average shares outstanding	175,567	 	186,706	
 	 	 	 	
Dividends paid per common share	$	0.35	
 	 	$	0.315	

DOVER CORPORATION
QUARTERLY SEGMENT INFORMATION
(unaudited)(in thousands)

 	2013	 	2012	
 	Q1	 	Q1	Q2	Q3	Q4	FY 2012	
REVENUE	 	 	 	 	 	 	 	
Communication Technologies	$	372,790	
 	 	$	357,575	
 	$	361,689	
 	$	396,470	
 	$	400,851	
 	$	1,516,585	

Energy	561,198	
 	 	531,570	
 	538,786	
 	562,263	
 	539,985	
 	2,172,604	

Engineered Systems	 	 	 	 	 	 	 	
Fluid Solutions	203,991	
 	 	180,364	
 	211,974	
 	218,324	
 	206,500	
 	817,162	
 	
Refrigeration & Industrial	664,294	
 	 	642,213	
 	674,501	
 	674,116	
 	613,012	
 	2,603,842	
 	
Eliminations	(352	)	 	(453	)	(352	)	(319	)	(336	)	(1,460	)	
 	867,933	
 	 	822,124	
 	886,123	
 	892,121	
 	819,176	
 	3,419,544	

Printing & Identification	237,877	
 	 	243,570	
 	251,875	
 	246,945	
 	254,141	
 	996,531	

Intra-segment eliminations	(225	)	 	(225	)	(184	)	(194	)	(322	)	(925	)	
 	 	 	 	 	 	 	 	
Total consolidated revenue	$	2,039,573	
 	 	$	1,954,614	
 	$	2,038,289	
 	$	2,097,605	
 	$	2,013,831	
 	$	8,104,339	

NET EARNINGS	 	 	 	 	 	 	 	
Segment Earnings:	 	 	 	 	 	 	 	
Communication Technologies	$	44,208	
 	 	$	46,556	
 	$	50,322	
 	$	63,706	
 	$	58,376	
 	$	218,960	
 	
Energy	139,545	
 	 	132,115	
 	133,936	
 	139,038	
 	133,561	
 	538,650	
 	
Engineered Systems	117,178	
 	 	122,092	
 	133,808	
 	144,245	
 	101,807	
 	501,952	
 	
Printing & Identification	29,752	
 	 	26,089	
 	28,918	
 	39,502	
 	40,650	
 	135,159	
 	
Total Segments	330,683	
 	 	326,852	
 	346,984	
 	386,491	
 	334,394	
 	1,394,721	
 	
Corporate expense / other	33,763	
 	 	36,546	
 	36,335	
 	32,001	
 	31,127	
 	136,009	
 	
Net interest expense	30,244	
 	 	30,031	
 	29,715	
 	30,399	
 	30,996	
 	121,141	
 	
Earnings from continuing operations before provision for income taxes	266,676	
 	 	260,275	
 	280,934	
 	324,091	
 	272,271	
 	1,137,571	
 	
Provision for income taxes	69,687	
 	 	73,866	
 	75,778	
 	90,761	
 	64,047	
 	304,452	
 	
Earnings from continuing operations	196,989	
 	 	186,409	
 	205,156	
 	233,330	
 	208,224	
 	833,119	
 	
Earnings (loss) from discontinued operations, net	13,014	
 	 	9,654	
 	8,945	
 	7,716	
 	(48,364	)	(22,049	)	
Net earnings	$	210,003	
 	 	$	196,063	
 	$	214,101	
 	$	241,046	
 	159,860	
 	$	811,070	

SEGMENT OPERATING MARGIN	 	 	 	 	 	 	
Communication Technologies	11.9	%	 	13.0	%	13.9	%	16.1	%	14.6	%	14.4	%	
Energy	24.9	%	 	24.9	%	24.9	%	24.7	%	24.7	%	24.8	%	
Engineered Systems	13.5	%	 	14.9	%	15.1	%	16.2	%	12.4	%	14.7	%	
Printing & Identification	12.5	%	 	10.7	%	11.5	%	16.0	%	16.0	%	13.6	%	
Total Segment	16.2	%	 	16.7	%	17.0	%	18.4	%	16.6	%	17.2	%	
 	 	 	 	 	 	 	 	
DEPRECIATION AND AMORTIZATION EXPENSE	 	 	 	 	 	 	
Communication Technologies	$	35,501	
 	 	$	31,513	
 	$	32,828	
 	$	32,997	
 	$	35,281	
 	$	132,619	
 	
Energy	26,298	
 	 	21,184	
 	23,533	
 	24,639	
 	25,721	
 	95,077	
 	
Engineered Systems	31,551	
 	 	19,582	
 	23,913	
 	23,060	
 	27,066	
 	93,621	
 	
Printing & Identification	7,630	
 	 	8,331	
 	8,496	
 	8,777	
 	7,998	
 	33,602	
 	
Corporate	859	
 	 	700	
 	765	
 	842	
 	359	
 	2,666	
 	
 	$	101,839	
 	 	$	81,310	
 	$	89,535	
 	$	90,315	
 	$	96,425	
 	$	357,585	

DOVER CORPORATION
QUARTERLY SEGMENT INFORMATION
(continued)
(unaudited)(in thousands)

 	2013	 	2012	
 	Q1	 	Q1	Q2	Q3	Q4	FY 2012	
BOOKINGS	 	 	 	 	 	 	 	
Communication Technologies	$	379,122	
 	 	$	347,291	
 	$	387,058	
 	$	411,005	
 	$	363,624	
 	$	1,508,978	

Energy	620,640	
 	 	585,775	
 	530,352	
 	526,824	
 	550,091	
 	2,193,042	

Engineered Systems	 	 	 	 	 	 	 	
Fluid Solutions	223,764	
 	 	184,711	
 	204,139	
 	197,767	
 	209,872	
 	796,489	
 	
Refrigeration & Industrial	755,026	
 	 	711,911	
 	666,223	
 	600,065	
 	606,931	
 	2,585,130	
 	
Eliminations	(373	)	 	(408	)	(376	)	(258	)	(399	)	(1,441	)	
 	978,417	
 	 	896,214	
 	869,986	
 	797,574	
 	816,404	
 	3,380,178	

Printing & Identification	237,217	
 	 	249,773	
 	251,733	
 	244,611	
 	252,937	
 	999,054	

Intra-segment eliminations	(720	)	 	(609	)	(221	)	(759	)	(1,020	)	(2,609	)	
 	 	 	 	 	 	 	 	
Total consolidated bookings	$	2,214,676	
 	 	$	2,078,444	
 	$	2,038,908	
 	$	1,979,255	
 	$	1,982,036	
 	$	8,078,643	

BACKLOG	 	 	 	 	 	 	 	
Communication Technologies	$	458,765	
 	 	$	451,110	
 	$	476,745	
 	$	491,041	
 	$	453,172	

Energy	311,793	
 	 	296,360	
 	282,364	
 	248,233	
 	256,093	

Engineered Systems	 	 	 	 	 	 	 	
Fluid Solutions	178,854	
 	 	191,327	
 	172,300	
 	156,191	
 	160,890	
 	 	
Refrigeration & Industrial	592,922	
 	 	598,910	
 	586,824	
 	515,285	
 	516,559	
 	 	
Eliminations	(178	)	 	(132	)	(155	)	(94	)	(157	)	 	
 	771,598	
 	 	790,105	
 	758,969	
 	671,382	
 	677,292	

Printing & Identification	95,353	
 	 	102,117	
 	98,216	
 	98,356	
 	97,857	

Intra-segment eliminations	(886	)	 	(986	)	(648	)	(324	)	(591	)	 	
 	 	 	 	 	 	 	 	
Total consolidated backlog	$	1,636,623	
 	 	$	1,638,706	
 	$	1,615,646	
 	$	1,508,688	
 	$	1,483,823	

DOVER CORPORATION
QUARTERLY EARNINGS PER SHARE
(unaudited)(in thousands, except per share data*)

 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
 	2013	 	2012	
 	Q1	 	Q1	Q2	Q3	Q4	FY 2012	
Basic earnings (loss) per common share:	 	 	 	 	 	 	
Continuing operations	$	1.14	
 	 	$	1.01	
 	$	1.12	
 	$	1.28	
 	$	1.17	
 	$	4.59	
 	
Discontinued operations	0.08	
 	 	0.05	
 	0.05	
 	0.04	
 	(0.27	)	(0.12	)	
Net earnings	1.21	
 	 	1.07	
 	1.17	
 	1.33	
 	0.90	
 	4.47	

Diluted earnings (loss) per common share:	 	 	 	 	 	 	
Continuing operations	$	1.12	
 	 	$	1.00	
 	$	1.10	
 	$	1.27	
 	$	1.16	
 	$	4.53	
 	
Discontinued operations	0.07	
 	 	0.05	
 	0.05	
 	0.04	
 	(0.27	)	(0.12	)	
Net earnings	1.20	
 	 	1.05	
 	1.15	
 	1.31	
 	0.89	
 	4.41	

Adjusted diluted earnings per common share (calculated below):	
Continuing operations	$	1.10	
 	 	$	1.01	
 	$	1.10	
 	$	1.25	
 	$	1.09	
 	$	4.44	

Net earnings (loss) and average shares used in calculated earnings (loss) per share amounts are as follows:	
 	 	 	 	 	 	 	 	
Net earnings (loss):	 	 	 	 	 	 	 	
Continuing operations	$	196,989	
 	 	$	186,409	
 	$	205,156	
 	$	233,330	
 	$	208,224	
 	$	833,119	
 	
Discontinued operations	13,014	
 	 	9,654	
 	8,945	
 	7,716	
 	(48,364	)	(22,049	)	
Net earnings	210,003	
 	 	196,063	
 	214,101	
 	241,046	
 	159,860	
 	811,070	

Average shares outstanding:	 	 	 	 	 	 	
Basic	173,448	
 	 	183,737	
 	183,494	
 	181,763	
 	177,257	
 	181,551	
 	
Diluted	175,567	
 	 	186,706	
 	185,780	
 	183,932	
 	179,365	
 	183,993	

 	
 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Note:	 	 	 	 	 	 	 	
Earnings from continuing operations are adjusted by discrete tax items to derive adjusted earnings from continuing operations and adjusted diluted earnings per common share as follows:	
 	 	 	 	 	 	 	 	
 	2013	 	2012	
 	Q1	 	Q1	Q2	Q3	Q4	FY 2012	
Adjusted earnings from continuing operations:	 	 	 	 	 	 	
Earnings from continuing operations	$	196,989	
 	 	$	186,409	
 	$	205,156	
 	$	233,330	
 	$	208,224	
 	$	833,119	
 	
Gains (losses) from discrete and other tax items	4,525	
 	 	(1,610	)	(372	)	4,513	
 	13,606	
 	16,137	
 	
Adjusted earnings from continuing operations	$	192,464	
 	 	$	188,019	
 	$	205,528	
 	$	228,817	
 	$	194,618	
 	$	816,982	

Adjusted diluted earnings per common share:	 	 	 	 	 	 	
Earnings from continuing operations	$	1.12	
 	 	$	1.00	
 	$	1.10	
 	$	1.27	
 	$	1.16	
 	$	4.53	
 	
Gains (losses) from discrete and other tax items	0.02	
 	 	(0.01	)	—	
 	0.02	
 	0.07	
 	0.09	
 	
Adjusted earnings from continuing operations	$	1.10	
 	 	$	1.01	
 	$	1.10	
 	$	1.25	
 	$	1.09	
 	$	4.44	

* Per share data may not add due to rounding.	 	 	 	 	 	 	

DOVER CORPORATION
QUARTERLY FREE CASH FLOW
(unaudited)(in thousands)

 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
 	2013	 	2012	
 	Q1	 	Q1	Q2	Q3	Q4	FY 2012	
Cash flow from operating activities	$	78,326	
 	 	$	161,327	
 	$	243,363	
 	$	285,811	
 	$	570,659	
 	$	1,261,160	
 	
Less: Additions to property, plant and equipment	(47,153	)	 	(68,249	)	(72,758	)	(67,842	)	(88,163	)	(297,012	)	
Free cash flow	$	31,173	
 	 	$	93,078	
 	$	170,605	
 	$	217,969	
 	$	482,496	
 	$	964,148	

Free cash flow as a percentage of earnings from continuing operations	15.8	%	 	49.9	%	83.2	%	93.4	%	231.7	%	115.7	%	
 	 	 	 	 	 	 	 	
Free cash flow as a percentage of revenue	1.5	%	 	4.8	%	8.4	%	10.4	%	24.0	%	11.9	%	

First Quarter 2013 Earnings Conference Call April 17, 2013 - 9:00am CT

 

Forward Looking Statements We want to remind everyone that our comments may contain forward-looking statements that are inherently subject to uncertainties. We caution everyone to be guided in their analysis of Dover by referring to our Form 10-K for a list of factors that could cause our results to differ from those anticipated in any such forward- looking statements. We would also direct your attention to our internet site, www.dovercorporation.com, where considerably more information can be found. 2

 

$0.40 $0.50 $0.60 $0.70 $0.80 $0.90 $1.00 $1.10 $1.20 $1.30 $1.40 Q1* Q2* Q3* Q4* Q1* Q2 Q3* Q4* Q1* Revenue $2.0B 4% (a) EPS (cont.) $1.12 12% Bookings $2.2B 7% Seg. Margins 16.2% -50 bps Organic Rev. -1% Acq. Growth 6% FCF (b) $31M -67% Q1 2013 Performance Continuing Earnings Per Share • Solid revenue growth in production and downstream markets within energy and consumer electronics market • North America and China markets remain solid, Europe remains slow • Margin of 16.2%, includes restructuring and one time costs of $11 million •Bookings growth of 9% in Engineered Systems and Communication Technologies, 6% in Energy and -5% in Printing & Identification • Overall book-to-bill of 1.09 Q1 Q1/Q1 2011 * Includes discrete & other tax benefits of $0.04 in Q1 2011, $0.13 in Q2 2011, $0.02 in Q3 2011, $0.03 in Q4 2011, -$0.01 in Q1 2012, $0.02 in Q3 2012, $0.07 in Q4 2012 and $0.02 in Q1 2013 FY $4.09 (b) See Press Release filed under Form 8-K for free cash flow reconciliation 3 Quarterly Comments Discrete tax benefits 2012 Adjusted continuing earnings per share FY $4.53 2013 (a) Includes a minor negative impact from foreign currency

 

4 Revenue Q1 2013 Communication Technologies Energy Engineered Systems Printing & Identification Total Dover Organic 4% - -5% -1% -1% Acquisitions - 6% 11% - 6% Currency - - - -1% < -1% Total 4% 6% 6% -2% 4%

 

$613 $664 $254 $238 $401 $373 $540 $561 $207 $204 $0 $300 $600 $900 DCT Q4 DCT Q1 DE Q4 DE Q1 DES Q4 DES Q1 DPI Q4 DPI Q1 $607 $755 $253 $237 $364 $379 $550 $621 $210 $224 $0 $250 $500 $750 $1,000 DCT Q4 DCT Q1 DE Q4 DE Q1 DES Q4 DES Q1 DPI Q4 DPI Q1 Sequential Results – Q4 12 → Q1 13 Fluid Solutions ↓ 7% ↑ 4% Refrigeration & Industrial ↑ 4% ↑ 13% ↑ 20% ↓ 6% $ in millions 5 Bookings ↑ 6% ↓ 6% Revenue

 

6 Communication Technologies • Solid growth in Consumer Electronics and Medical Technology markets • Consumer Electronics revenue reflects normal seasonality • Aerospace/Defense and Telecom/Other markets generally stable • Margin impacted by customer mix, incremental restructuring costs and legal expense of $7M • Book-to-bill at 1.02 $ in millions Q1 2013 Q1 2012 % Change Revenue $373 $358 4% Earnings $ 44 $ 47 -5% Margin 11.9% 13.0% -110 bps Bookings $379 $347 9% Quarterly Comments Revenue by End-Market % of Q1 Revenue Y / Y Growth Consumer Electronics 47% 8% Medical Technology 16% 4% Aerospace / Defense 27% -1% Telecom / Other 10% 1%

 

7 Energy • Revenue and earnings growth driven by production and downstream markets and acquisitions; drilling continues to be soft as anticipated •Oil prices remain supportive of continued investment in production and international markets are robust • Operating margin of 24.9% reflects strong execution • Bookings growth led by the production market • Book-to-bill at a strong 1.11 $ in millions Quarterly Comments Q1 2013 Q1 2012 % Change Revenue $561 $532 6% Earnings $140 $132 6% Margin 24.9% 24.9% flat Bookings $621 $586 6% Revenue by End-Market % of Q1 Revenue Y / Y Growth Drilling 19% -9% Production 55% 12% Downstream 26% 5%

 

8 Engineered Systems • Revenue growth driven by recent acquisitions •Results in refrigeration impacted by non-repeating project in prior year period • Margin performance reflects impact of Anthony acquisition • Bookings grow seasonally • Book-to-bill at a strong 1.13 $ in millions Quarterly Comments Q1 2013 Q1 2012 % Change Revenue $868 $822 6% Earnings $117 $122 -4% Margin 13.5% 14.9% -140 bps Bookings $978 $896 9% Revenue by End-Market % of Q1 Revenue Y / Y Growth Fluids 24% 13% Refrigeration & Food Equipment 42% 9% Industrial 34% -3%

 

Printing & Identification • Stable revenue in fast moving consumer goods partially offsets a sluggish industrial market, particularly in bar coding • Operating margin increase reflects the benefits of prior restructuring, cost initiatives and a favorable product mix • Several new product introductions are scheduled in the coming months •Book-to-bill at 1.00 $ in millions Quarterly Comments Q1 2013 Q1 2012 % Change Revenue $238 $244 -2% Earnings $ 30 $ 26 14% Margin 12.5% 10.7% 180 bps Bookings $237 $250 -5% 9 Revenue by End-Market % of Q1 Revenue Y / Y Growth Fast Moving Consumer Goods 60% flat Industrial 40% -6%

 

Q1 2013 Overview Q1 2013 Net Interest Expense $30 million, essentially flat with last year, in-line with expectations Corporate Expense $34.0 million, down $3 million from last year. Effective Tax Rate (ETR) Q1 normalized rate was 27.8%, excluding $0.02 cents of discrete tax benefits(a) Capex $47 million, in-line with expectations Share Repurchases Repurchased 4 million shares ($290M) in quarter under the November $1 billion program. 10 (a) See press release filed under form 8-K for reconciliation

 

FY 2013 Guidance – Revenue Growth by Segment 11 Segment 2012 Revenue Mix 2013F Organic Growth 2013F Acquisition Growth* Total Communication Technologies 19% 9% - 11% - 9% - 11% Energy 27% 3% - 5% ≈ 2% 5% - 7% Engineered Systems 42% 2% - 4% ≈ 8% 10% - 12% Printing & Identification 12% 1% - 2% - 1% - 2% Total ≈ $8.1 B 3% - 5% ≈ 4% 7% - 9% * Acquisitions already completed

 

FY 2013 Guidance  Revenue: • Organic revenue : ≈ 3% - 5% • Acquisitions: ≈ 4% • Total revenue: ≈ 7% - 9%  Corporate expense: ≈ $150 million  Interest expense: ≈ $127 million  Full-Year Tax Rate: ≈ 27.5% - 28.0%(a)  Capital expenditures: ≈ 3.4% of revenue  FCF for full year: ≈ 10% of revenue 12 2013 EPS from continuing ops: $5.05 – $5.35 (a) Pre discrete tax adjustments

 

 2012 EPS – Continuing Ops $4.53 • Less 2012 tax benefits (1): ($0.09)  2012 Adjusted EPS – Continuing Ops $4.44 • Volume, mix, price (inc. FX): $0.28 - $0.46 • Net benefits of productivity: $0.12 - $0.22 • Acquisitions: $0.13 - $0.16 • Investment / Compensation: ($0.12 - $0.18) • Corporate expense: (0.05) • Interest / Shares / Tax Rate (net): $0.25 - $0.30  2013 EPS – Continuing Ops $5.05 - $5.35 2013 EPS Guidance Bridge - Cont. Ops (1) Negligible amounts in Q1 2012 & Q2 2012, $0.02 in Q3 2012 and $0.07 in Q4 2012 13