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): July 23, 2010
 
DOVER CORPORATION
(Exact Name of Registrant as Specified in Charter)

Delaware
(State or other Jurisdiction
of Incorporation)	 	1-4018
(Commission File Number)	 	53-0257888
(I.R.S. Employer
Identification No.)	
3005 Highland Parkway, Suite 200
Downers Grove, Illinois 60515
(Address of Principal Executive Offices)
(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 (  see  General Instruction A.2. below):
 	 	 	
o	 	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)	

o	 	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)	

o	 	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))	

o	 	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 July 23, 2010, Dover Corporation (i) issued the press release attached hereto as Exhibit 99.1 announcing its results of operations for the quarter ended June 30, 2010; and (ii) posted on its website at  http://www.dovercorporation.com  the investor supplement attached hereto as Exhibit 99.2 for the quarter ended June 30, 2010 and the presentation slides attached hereto as Exhibit 99.3 for the quarter ended June 30, 2010.
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	 	Press Release of Dover Corporation, dated July 23, 2010.	
 	 	 	 	
 	99.2	 	Investor Supplement Posted on Dover Corporation’s Website at http://dovercorporation.com.	
 	 	 	 	
 	99.3	 	Presentation Slides Posted on Dover Corporation’s Website at http://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: July 23, 2010  	DOVER CORPORATION
(Registrant)
 	 	
 	By:  	/s/ Joseph W. Schmidt  	 	
 	 	Joseph W. Schmidt 	 	
 	 	Vice President, General Counsel & Secretary 	 	

 
 	 	 	 	 	
EXHIBIT INDEX
 	 	 	
Number	 	Exhibit	
99.1	 	Press Release of Dover Corporation, dated July 23, 2010	
 	 	 	
99.2	 	Investor Supplement Posted on Dover Corporation’s Website at http://dovercorporation.com	
 	 	 	
99.3	 	Presentation Slides Posted on Dover Corporation’s Website at http://dovercorporation.com	

Exhibit 99.1

CONTACT:	 	READ IT ON THE WEB	
Paul Goldberg	 	www.dovercorporation.com	
Treasurer & Director of Investor Relations	 	 	
(212) 922-1640	 	 	
DOVER CORPORATION REPORTS SECOND QUARTER 2010 RESULTS
 	•	 	Reports revenue of $1.8 billion, an increase of 29% over the prior year	
 	 	 	 	
 	•	 	Delivers diluted earnings per share from continuing operations of $0.91, up 69% over last year	
 	 	 	 	
 	•	 	Achieves segment operating margin of 16.9%	
 	 	 	 	
 	•	 	Raises guidance for full year diluted earnings per share from continuing operations to $3.05 – $3.25	
Downers Grove, Illinois, July 23, 2010 — Dover Corporation (NYSE: DOV) announced today that for the second quarter ended June 30, 2010, earnings from continuing operations were $171.9 million or $0.91 diluted earnings per share (“EPS”), compared to $100.9 million or $0.54 diluted EPS from continuing operations in the prior year period, representing increases of 70% and 69%, respectively. Revenue for the second quarter of 2010 was $1.8 billion, an increase of 29% over the prior-year period. The revenue increase was driven by organic growth of 24%, a 4% increase from acquisitions, and a 1% favorable impact from foreign exchange.
Earnings from continuing operations for the six months ended June 30, 2010 were $293.4 million or $1.55 diluted EPS, compared to $162.0 million or $0.87 diluted EPS in the prior-year period, representing increases of 81% and 78%, respectively. Revenue for the six months ended June 30, 2010 was $3.4 billion, an increase of 22% over the prior year period, reflecting organic growth of 15%, a 5% increase from acquisitions, and a 2% favorable impact from foreign exchange.
Commenting on the second quarter results, Dover’s President and Chief Executive Officer, Robert A. Livingston, said, “I am pleased with our strong second quarter performance. Revenue growth of 29% was higher than our expectations entering the quarter and was broad-based, with Electronic Technologies, Fluid Management, Refrigeration Equipment and Product ID leading the way. We were successful in converting the revenue increases to earnings growth, as evidenced by our 16.9% segment operating margin in the quarter. Further, order rates remained strong across the majority of our portfolio in the second quarter as we exited with a book-to-bill of 1.08.
“Looking forward, the strength of our first half, coupled with our solid book-to-bill leads us to believe our full-year results will be higher than those previously communicated. We now estimate full year revenue growth will be 16% – 18%, comprised of organic revenue growth of 13% – 15%, and growth from acquisitions of 3%. Based on these revenue assumptions, our

 
2
operating companies’ solid results in the first half, and our continuing strong focus on margin performance as we enter the back half of the year, we now anticipate full-year earnings per share will be in the range of $3.05 – $3.25.”
Net earnings for the second quarter of 2010 were $169.9 million or $0.90 EPS, including a loss from discontinued operations of $2.0 million or $0.01 EPS, compared to net earnings of $97.1 million or $0.52 EPS for the same period of 2009, which included a loss from discontinued operations of $3.8 million or $0.02 EPS. Net earnings for the six months ended June 30, 2010 were $278.0 million or $1.47 EPS, including a loss from discontinued operations of $15.4 million or $0.08 EPS, compared to net earnings of $150.5 million or $0.81 EPS for the same period of 2009, which included a loss from discontinued operations of $11.5 million or $0.06 EPS.
Dover will host a webcast of its second quarter 2010 conference call at 9:00 A.M. Eastern Time on Friday, July 23, 2010. 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 2010 results and its operating companies can also be found on the Company website.
Dover Corporation is a global portfolio of manufacturing companies providing innovative components and equipment, specialty systems and support services for a variety of applications in the industrial products, engineered systems, fluid management and electronic technologies markets. For more information, please visit  www.dovercorporation.com .
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, income, earnings, cash flows, changes in operations, operating improvements, industries in which Dover companies operate and the U.S. and global economies. Statements in this press release that are not historical 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,” use of 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, current economic conditions and uncertainties in the credit and capital markets; the Company’s ability to achieve expected savings from integration, synergy and other cost-control initiatives; the ability to identify and successfully consummate value-adding acquisition opportunities; increased competition and pricing pressures in the markets served by Dover’s operating companies; the ability of Dover’s companies to expand into new geographic markets and to anticipate and meet customer demands for new products and product enhancements; increases in the cost of raw materials; changes in customer demand; political events that could impact the worldwide economy; the impact of natural disasters and their effect on global energy markets; a downgrade in Dover’s credit ratings; international economic conditions including interest rate and currency exchange rate fluctuations; the relative mix of products and services which impacts margins and operating efficiencies; short-term capacity constraints; domestic and foreign governmental and public policy changes including environmental regulations and tax policies (including domestic and international export subsidy programs, R&E credits and other similar programs); unforeseen developments in contingencies such as litigation; protection and validity of patent and other intellectual property rights; the cyclical nature of some of Dover’s companies; domestic housing industry weakness; and continued events in the Middle East and possible future terrorist threats and their effect on the worldwide economy. Dover Corporation refers you to the documents that it files from time to time with the Securities and Exchange Commission, such as its reports on

 
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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 Corporation undertakes no obligation to update any forward-looking statement.

Exhibit 99.2

INVESTOR SUPPLEMENT — SECOND QUARTER 2010
DOVER CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS
(unaudited) (in thousands, except per share figures)
 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
 	 	Three Months Ended June 30,	 	 	Six Months Ended June 30,	 	
 	 	2010	 	 	2009	 	 	2010	 	 	2009	 	
Revenue	 	$	1,786,696	 	 	$	1,390,331	 	 	$	3,369,966	 	 	$	2,769,417	 	
Cost of goods and services	 	 	1,097,998	 	 	 	897,021	 	 	 	2,069,111	 	 	 	1,793,963	 	
 	 	 	 	 	 	 	 	 	 	 	 	 	
Gross profit	 	 	688,698	 	 	 	493,310	 	 	 	1,300,855	 	 	 	975,454	 	
Selling and administrative expenses	 	 	423,809	 	 	 	364,962	 	 	 	832,978	 	 	 	732,352	 	
 	 	 	 	 	 	 	 	 	 	 	 	 	
Operating earnings	 	 	264,889	 	 	 	128,348	 	 	 	467,877	 	 	 	243,102	 	
Interest expense, net	 	 	26,942	 	 	 	24,840	 	 	 	54,111	 	 	 	47,238	 	
Other expense/(income), net	 	 	(4,708	)	 	 	1,513	 	 	 	(5,949	)	 	 	(223	)	
 	 	 	 	 	 	 	 	 	 	 	 	 	
Total interest/other expense, net	 	 	22,234	 	 	 	26,353	 	 	 	48,162	 	 	 	47,015	 	
 	 	 	 	 	 	 	 	 	 	 	 	 	
Earnings before provision for income taxes and discontinued operations	 	 	242,655	 	 	 	101,995	 	 	 	419,715	 	 	 	196,087	 	
Provision for income taxes	 	 	70,762	 	 	 	1,121	 	 	 	126,337	 	 	 	34,118	 	
 	 	 	 	 	 	 	 	 	 	 	 	 	
Earnings from continuing operations	 	 	171,893	 	 	 	100,874	 	 	 	293,378	 	 	 	161,969	 	
Loss from discontinued operations, net	 	 	(2,023	)	 	 	(3,794	)	 	 	(15,381	)	 	 	(11,463	)	
 	 	 	 	 	 	 	 	 	 	 	 	 	
Net earnings	 	$	169,870	 	 	$	97,080	 	 	$	277,997	 	 	$	150,506	 	

Basic earnings (loss) per common share:	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Earnings from continuing operations	 	$	0.92	 	 	$	0.54	 	 	$	1.57	 	 	$	0.87	 	
Loss from discontinued operations, net	 	 	(0.01	)	 	 	(0.02	)	 	 	(0.08	)	 	 	(0.06	)	
Net earnings	 	 	0.91	 	 	 	0.52	 	 	 	1.49	 	 	 	0.81	 	
 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Weighted average shares outstanding	 	 	186,823	 	 	 	186,070	 	 	 	186,998	 	 	 	186,041	 	

Diluted earnings (loss) per common share:	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Earnings from continuing operations	 	$	0.91	 	 	$	0.54	 	 	$	1.55	 	 	$	0.87	 	
Loss from discontinued operations, net	 	 	(0.01	)	 	 	(0.02	)	 	 	(0.08	)	 	 	(0.06	)	
Net earnings	 	 	0.90	 	 	 	0.52	 	 	 	1.47	 	 	 	0.81	 	
 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Weighted average shares outstanding	 	 	188,720	 	 	 	186,292	 	 	 	188,948	 	 	 	186,198	 	

Dividends paid per common share	 	$	0.26	 	 	$	0.25	 	 	$	0.52	 	 	$	0.50	 	
 	 	 	 	 	 	 	 	 	 	 	 	 	
The following table is a reconciliation of the share amounts used in computing earnings per share:
 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
 	 	Three Months Ended June 30,	 	 	Six Months Ended June 30,	 	
 	 	2010	 	 	2009	 	 	2010	 	 	2009	 	
Weighted average shares outstanding — Basic	 	 	186,823	 	 	 	186,070	 	 	 	186,998	 	 	 	186,041	 	
Dilutive effect of assumed exercise of employee stock options, SAR’s and performance shares	 	1,897	 	 	222	 	 	 	1,950	 	 	 	157	 	

Weighted average shares outstanding — Diluted	 	 	188,720	 	 	 	186,292	 	 	 	188,948	 	 	 	186,198	 	

Anti-dilutive options/SAR’s excluded from diluted EPS computation	 	 	3,790	 	 	 	13,365	 	 	 	1,501	 	 	 	13,538	 	

 
DOVER CORPORATION — INVESTOR SUPPLEMENT
SECOND QUARTER 2010
DOVER CORPORATION
QUARTERLY SEGMENT INFORMATION
(unaudited) (in thousands)
 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
 	 	2009	 	2010	
 	 	 	 	 	 	 	 	 	 	Q2	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	Q2	 	
 	 	Q1	 	 	Q2	 	 	YTD	 	 	Q3	 	 	Q3 YTD	 	 	Q4	 	 	FY 2009	 	 	Q1	 	 	Q2	 	 	YTD	 	
 	 	 	
REVENUE	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Industrial Products	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Material Handling	 	$	186,651	 	 	$	153,574	 	 	$	340,225	 	 	$	154,238	 	 	$	494,463	 	 	$	165,890	 	 	$	660,353	 	 	$	189,052	 	 	$	214,295	 	 	$	403,347	 	
Mobile Equipment	 	 	248,292	 	 	 	229,522	 	 	 	477,814	 	 	 	242,011	 	 	 	719,825	 	 	 	242,352	 	 	 	962,177	 	 	 	240,139	 	 	 	248,523	 	 	 	488,662	 	
Eliminations	 	 	(152	)	 	 	(147	)	 	 	(299	)	 	 	(209	)	 	 	(508	)	 	 	(230	)	 	 	(738	)	 	 	(393	)	 	 	(432	)	 	 	(825	)	
 	 	 	
 	 	 	434,791	 	 	 	382,949	 	 	 	817,740	 	 	 	396,040	 	 	 	1,213,780	 	 	 	408,012	 	 	 	1,621,792	 	 	 	428,798	 	 	 	462,386	 	 	 	891,184	 	

Engineered Systems	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Product Identification	 	 	177,358	 	 	 	193,018	 	 	 	370,376	 	 	 	211,952	 	 	 	582,328	 	 	 	219,948	 	 	 	802,276	 	 	 	212,500	 	 	 	219,551	 	 	 	432,051	 	
Engineered Products	 	 	223,426	 	 	 	274,398	 	 	 	497,824	 	 	 	308,741	 	 	 	806,565	 	 	 	253,095	 	 	 	1,059,660	 	 	 	271,773	 	 	 	357,570	 	 	 	629,343	 	
 	 	 	
 	 	 	400,784	 	 	 	467,416	 	 	 	868,200	 	 	 	520,693	 	 	 	1,388,893	 	 	 	473,043	 	 	 	1,861,936	 	 	 	484,273	 	 	 	577,121	 	 	 	1,061,394	 	

Fluid Management	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Energy	 	 	176,334	 	 	 	138,415	 	 	 	314,749	 	 	 	144,664	 	 	 	459,413	 	 	 	164,798	 	 	 	624,211	 	 	 	205,327	 	 	 	216,020	 	 	 	421,347	 	
Fluid Solutions	 	 	154,488	 	 	 	156,897	 	 	 	311,385	 	 	 	164,604	 	 	 	475,989	 	 	 	170,860	 	 	 	646,849	 	 	 	175,505	 	 	 	187,759	 	 	 	363,264	 	
Eliminations	 	 	(50	)	 	 	(43	)	 	 	(93	)	 	 	(21	)	 	 	(114	)	 	 	(36	)	 	 	(150	)	 	 	(32	)	 	 	(105	)	 	 	(137	)	
 	 	 	
 	 	 	330,772	 	 	 	295,269	 	 	 	626,041	 	 	 	309,247	 	 	 	935,288	 	 	 	335,622	 	 	 	1,270,910	 	 	 	380,800	 	 	 	403,674	 	 	 	784,474	 	

Electronic Technologies	 	 	214,035	 	 	 	245,953	 	 	 	459,988	 	 	 	275,266	 	 	 	735,254	 	 	 	291,700	 	 	 	1,026,954	 	 	 	290,989	 	 	 	345,607	 	 	 	636,596	 	

Intra-segment eliminations	 	 	(1,297	)	 	 	(1,255	)	 	 	(2,552	)	 	 	(1,635	)	 	 	(4,187	)	 	 	(1,716	)	 	 	(5,903	)	 	 	(1,590	)	 	 	(2,092	)	 	 	(3,682	)	

Total consolidated revenue	 	$	1,379,085	 	 	$	1,390,332	 	 	$	2,769,417	 	 	$	1,499,611	 	 	$	4,269,028	 	 	$	1,506,661	 	 	$	5,775,689	 	 	$	1,583,270	 	 	$	1,786,696	 	 	$	3,369,966	 	

NET EARNINGS	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Segment Earnings:	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Industrial Products	 	$	34,544	 	 	$	25,421	 	 	$	59,965	 	 	$	38,119	 	 	$	98,084	 	 	$	41,673	 	 	$	139,757	 	 	$	51,039	 	 	$	61,635	 	 	$	112,674	 	
Engineered Systems	 	 	43,305	 	 	 	57,463	 	 	 	100,768	 	 	 	78,194	 	 	 	178,962	 	 	 	48,306	 	 	 	227,268	 	 	 	54,843	 	 	 	84,655	 	 	 	139,498	 	
Fluid Management	 	 	75,442	 	 	 	55,572	 	 	 	131,014	 	 	 	60,677	 	 	 	191,691	 	 	 	67,578	 	 	 	259,269	 	 	 	86,767	 	 	 	96,168	 	 	 	182,935	 	
Electronic Technologies	 	 	(12,110	)	 	 	17,993	 	 	 	5,883	 	 	 	38,160	 	 	 	44,043	 	 	 	39,651	 	 	 	83,694	 	 	 	44,905	 	 	 	59,582	 	 	 	104,487	 	
 	 	 	
Total Segments	 	 	141,181	 	 	 	156,449	 	 	 	297,630	 	 	 	215,150	 	 	 	512,780	 	 	 	197,208	 	 	 	709,988	 	 	 	237,554	 	 	 	302,040	 	 	 	539,594	 	
Corporate expense / other	 	 	(24,692	)	 	 	(29,613	)	 	 	(54,305	)	 	 	(34,106	)	 	 	(88,411	)	 	 	(29,584	)	 	 	(117,995	)	 	 	(33,325	)	 	 	(32,443	)	 	 	(65,768	)	
Net interest expense	 	 	(22,398	)	 	 	(24,840	)	 	 	(47,238	)	 	 	(26,299	)	 	 	(73,537	)	 	 	(26,838	)	 	 	(100,375	)	 	 	(27,169	)	 	 	(26,942	)	 	 	(54,111	)	
 	 	 	
Earnings from continuing operations before provision for income taxes	 	 	94,091	 	 	 	101,996	 	 	 	196,087	 	 	 	154,745	 	 	 	350,832	 	 	 	140,786	 	 	 	491,618	 	 	 	177,060	 	 	 	242,655	 	 	 	419,715	 	
Provision for income taxes	 	 	32,997	 	 	 	1,120	 	 	 	34,117	 	 	 	47,261	 	 	 	81,378	 	 	 	38,346	 	 	 	119,724	 	 	 	55,575	 	 	 	70,762	 	 	 	126,337	 	
 	 	 	
Earnings from continuing operations	 	 	61,094	 	 	 	100,876	 	 	 	161,971	 	 	 	107,484	 	 	 	269,455	 	 	 	102,440	 	 	 	371,894	 	 	 	121,485	 	 	 	171,893	 	 	 	293,378	 	
Earnings (loss) from discontinued operations, net	 	 	(7,669	)	 	 	(3,793	)	 	 	(11,462	)	 	 	(600	)	 	 	(12,062	)	 	 	(3,394	)	 	 	(15,456	)	 	 	(13,358	)	 	 	(2,023	)	 	 	(15,381	)	
 	 	 	
Net earnings	 	$	53,425	 	 	$	97,083	 	 	$	150,508	 	 	$	106,884	 	 	$	257,392	 	 	$	99,046	 	 	$	356,438	 	 	$	108,127	 	 	$	169,870	 	 	$	277,997	 	
 	 	 	
SEGMENT OPERATING MARGIN	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Industrial Products	 	 	7.9	%	 	 	6.6	%	 	 	7.3	%	 	 	9.6	%	 	 	8.1	%	 	 	10.2	%	 	 	8.6	%	 	 	11.9	%	 	 	13.3	%	 	 	12.6	%	
Engineered Systems	 	 	10.8	%	 	 	12.3	%	 	 	11.6	%	 	 	15.0	%	 	 	12.9	%	 	 	10.2	%	 	 	12.2	%	 	 	11.3	%	 	 	14.7	%	 	 	13.1	%	
Fluid Management	 	 	22.8	%	 	 	18.8	%	 	 	20.9	%	 	 	19.6	%	 	 	20.5	%	 	 	20.1	%	 	 	20.4	%	 	 	22.8	%	 	 	23.8	%	 	 	23.3	%	
Electronic Technologies	 	 	-5.7	%	 	 	7.3	%	 	 	1.3	%	 	 	13.9	%	 	 	6.0	%	 	 	13.6	%	 	 	8.1	%	 	 	15.4	%	 	 	17.2	%	 	 	16.4	%	
 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total Segment	 	 	10.2	%	 	 	11.3	%	 	 	10.7	%	 	 	14.3	%	 	 	12.0	%	 	 	13.1	%	 	 	12.3	%	 	 	15.0	%	 	 	16.9	%	 	 	16.0	%	

 
DOVER CORPORATION — INVESTOR SUPPLEMENT
SECOND QUARTER 2010
DOVER CORPORATION
QUARTERLY SEGMENT INFORMATION
(unaudited) (in thousands)
 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
 	 	2009	 	 	2010	 	
 	 	 	 	 	 	 	 	 	 	Q2	 	 	 	 	 	 	Q3	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	Q2	 	
 	 	Q1	 	 	Q2	 	 	YTD	 	 	Q3	 	 	YTD	 	 	Q4	 	 	FY 2009	 	 	Q1	 	 	Q2	 	 	YTD	 	
 	 	 	
BOOKINGS	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Industrial Products	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Material Handling	 	$	118,343	 	 	$	126,225	 	 	$	244,568	 	 	$	162,759	 	 	$	407,327	 	 	$	180,349	 	 	$	587,676	 	 	$	204,098	 	 	$	223,787	 	 	$	427,885	 	
Mobile Equipment	 	 	210,558	 	 	 	245,937	 	 	 	456,495	 	 	 	191,539	 	 	 	648,034	 	 	 	253,130	 	 	 	901,164	 	 	 	231,128	 	 	 	288,887	 	 	 	520,015	 	
Eliminations	 	 	(22	)	 	 	(203	)	 	 	(225	)	 	 	(337	)	 	 	(562	)	 	 	(424	)	 	 	(986	)	 	 	(407	)	 	 	(303	)	 	 	(710	)	
 	 	 	
 	 	 	328,879	 	 	 	371,959	 	 	 	700,838	 	 	 	353,961	 	 	 	1,054,799	 	 	 	433,055	 	 	 	1,487,854	 	 	 	434,819	 	 	 	512,371	 	 	 	947,190	 	
 	 	 	
Engineered Systems	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Product Identification	 	 	175,680	 	 	 	205,736	 	 	 	381,416	 	 	 	212,642	 	 	 	594,058	 	 	 	223,301	 	 	 	817,359	 	 	 	220,410	 	 	 	223,203	 	 	 	443,613	 	
Engineered Products	 	 	236,353	 	 	 	259,869	 	 	 	496,222	 	 	 	258,634	 	 	 	754,856	 	 	 	263,211	 	 	 	1,018,067	 	 	 	368,134	 	 	 	379,048	 	 	 	747,182	 	
 	 	 	
 	 	 	412,033	 	 	 	465,605	 	 	 	877,638	 	 	 	471,276	 	 	 	1,348,914	 	 	 	486,512	 	 	 	1,835,426	 	 	 	588,544	 	 	 	602,251	 	 	 	1,190,795	 	
 	 	 	
Fluid Management	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Energy	 	 	142,721	 	 	 	132,855	 	 	 	275,576	 	 	 	157,763	 	 	 	433,339	 	 	 	176,706	 	 	 	610,045	 	 	 	208,669	 	 	 	226,301	 	 	 	434,970	 	
Fluid Solutions	 	 	150,376	 	 	 	159,482	 	 	 	309,858	 	 	 	165,601	 	 	 	475,459	 	 	 	169,639	 	 	 	645,098	 	 	 	179,037	 	 	 	192,035	 	 	 	371,072	 	
Eliminations	 	 	(43	)	 	 	(39	)	 	 	(82	)	 	 	(41	)	 	 	(123	)	 	 	(17	)	 	 	(140	)	 	 	(85	)	 	 	(51	)	 	 	(136	)	
 	 	 	
 	 	 	293,054	 	 	 	292,298	 	 	 	585,352	 	 	 	323,323	 	 	 	908,675	 	 	 	346,328	 	 	 	1,255,003	 	 	 	387,621	 	 	 	418,285	 	 	 	805,906	 	

Electronic Technologies	 	 	223,707	 	 	 	243,274	 	 	 	466,981	 	 	 	283,035	 	 	 	750,016	 	 	 	305,266	 	 	 	1,055,282	 	 	 	358,477	 	 	 	394,441	 	 	 	752,918	 	
 	 	 	
Intra-segment eliminations	 	 	(1,291	)	 	 	(1,435	)	 	 	(6,482	)	 	 	(1,790	)	 	 	1,528,911	 	 	 	(1,600	)	 	 	(6,116	)	 	 	(1,615	)	 	 	(2,244	)	 	 	(3,859	)	
 	 	 	
Total consolidated bookings	 	$	1,256,382	 	 	$	1,371,701	 	 	$	3,980,735	 	 	$	1,429,805	 	 	$	5,591,315	 	 	$	1,569,561	 	 	$	5,627,449	 	 	$	1,767,846	 	 	$	1,925,104	 	 	$	3,692,950	 	

BACKLOG	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Industrial Products	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Material Handling	 	$	120,066	 	 	$	93,247	 	 	 	 	 	 	$	102,146	 	 	 	 	 	 	$	116,658	 	 	 	 	 	 	$	131,521	 	 	$	140,452	 	 	 	 	 	
Mobile Equipment	 	 	349,358	 	 	 	368,315	 	 	 	 	 	 	 	318,496	 	 	 	 	 	 	 	329,774	 	 	 	 	 	 	 	319,801	 	 	 	359,727	 	 	 	 	 	
Eliminations	 	 	(48	)	 	 	(143	)	 	 	 	 	 	 	(170	)	 	 	 	 	 	 	(371	)	 	 	 	 	 	 	(386	)	 	 	(257	)	 	 	 	 	
 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
 	 	 	469,376	 	 	 	461,419	 	 	 	 	 	 	 	420,472	 	 	 	 	 	 	 	446,061	 	 	 	 	 	 	 	450,936	 	 	 	499,922	 	 	 	 	 	
 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Engineered Systems	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Product Identification	 	 	57,801	 	 	 	66,288	 	 	 	 	 	 	 	72,523	 	 	 	 	 	 	 	74,700	 	 	 	 	 	 	 	78,976	 	 	 	80,550	 	 	 	 	 	
Engineered Products	 	 	196,394	 	 	 	245,165	 	 	 	 	 	 	 	199,888	 	 	 	 	 	 	 	218,520	 	 	 	 	 	 	 	314,465	 	 	 	334,971	 	 	 	 	 	
 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
 	 	 	254,195	 	 	 	311,453	 	 	 	 	 	 	 	272,411	 	 	 	 	 	 	 	293,220	 	 	 	 	 	 	 	393,441	 	 	 	415,521	 	 	 	 	 	
 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Fluid Management	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Energy	 	 	58,771	 	 	 	54,734	 	 	 	 	 	 	 	66,043	 	 	 	 	 	 	 	77,173	 	 	 	 	 	 	 	76,844	 	 	 	84,800	 	 	 	 	 	
Fluid Solutions	 	 	60,781	 	 	 	63,788	 	 	 	 	 	 	 	65,081	 	 	 	 	 	 	 	60,540	 	 	 	 	 	 	 	63,535	 	 	 	65,639	 	 	 	 	 	
Eliminations	 	 	(5	)	 	 	(1	)	 	 	 	 	 	 	(21	)	 	 	 	 	 	 	(2	)	 	 	 	 	 	 	(55	)	 	 	(1	)	 	 	 	 	
 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
 	 	 	119,547	 	 	 	118,521	 	 	 	 	 	 	 	131,103	 	 	 	 	 	 	 	137,711	 	 	 	 	 	 	 	140,324	 	 	 	150,438	 	 	 	 	 	

Electronic Technologies	 	 	186,850	 	 	 	185,512	 	 	 	 	 	 	 	194,414	 	 	 	 	 	 	 	206,893	 	 	 	 	 	 	 	271,340	 	 	 	318,450	 	 	 	 	 	

Intra-segment eliminations	 	 	(42	)	 	 	(242	)	 	 	 	 	 	 	(426	)	 	 	 	 	 	 	(337	)	 	 	 	 	 	 	(362	)	 	 	(570	)	 	 	 	 	

Total consolidated backlog	 	$	1,029,926	 	 	$	1,076,663	 	 	 	 	 	 	$	1,017,974	 	 	 	 	 	 	$	1,083,548	 	 	 	 	 	 	$	1,255,679	 	 	$	1,383,761	 	 	 	 	 	

ACQUISITION RELATED DEPRECIATION AND AMORTIZATION EXPENSE *	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Industrial Products	 	$	8,388	 	 	$	7,708	 	 	$	16,096	 	 	$	7,770	 	 	$	23,866	 	 	$	8,182	 	 	$	32,048	 	 	$	7,575	 	 	$	7,620	 	 	$	15,195	 	
Engineered Systems	 	 	6,071	 	 	 	6,436	 	 	 	12,507	 	 	 	6,580	 	 	 	19,087	 	 	 	7,579	 	 	 	26,666	 	 	 	7,915	 	 	 	7,057	 	 	 	14,972	 	
Fluid Management	 	 	4,828	 	 	 	4,592	 	 	 	9,420	 	 	 	4,432	 	 	 	13,852	 	 	 	4,537	 	 	 	18,389	 	 	 	5,429	 	 	 	5,591	 	 	 	11,020	 	
Electronic Technologies	 	 	8,286	 	 	 	8,217	 	 	 	16,503	 	 	 	8,268	 	 	 	24,771	 	 	 	8,432	 	 	 	33,203	 	 	 	8,370	 	 	 	8,540	 	 	 	16,910	 	
 	 	 	
 	 	$	27,573	 	 	$	26,953	 	 	$	54,526	 	 	$	27,050	 	 	$	81,576	 	 	$	28,730	 	 	$	110,306	 	 	$	29,289	 	 	$	28,808	 	 	$	58,097	 	

 	 	 	
*	 	Represents the pre-tax impact on earnings from the depreciation and amortization of acquisition accounting write-ups to reflect the fair value of inventory, property, plant and equipment and intangible assets.	

 
DOVER CORPORATION — INVESTOR
SUPPLEMENT SECOND QUARTER 2010
DOVER CORPORATION
QUARTERLY EARNINGS PER SHARE
(unaudited)
 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
 	 	2009	 	2010	
 	 	Q1	 	Q2	 	Q3	 	Q4	 	FY 2009	 	Q1	 	Q2	 	YTD	
 	 	 	 	 	
Basic earnings (loss) per common share:	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Continuing operations	 	$	0.33	 	 	$	0.54	 	 	$	0.58	 	 	$	0.55	 	 	$	2.00	 	 	$	0.65	 	 	$	0.92	 	 	$	1.57	 	
Discontinued operations	 	 	(0.04	)	 	 	(0.02	)	 	 	(0.00	)	 	 	(0.02	)	 	 	(0.08	)	 	 	(0.07	)	 	 	(0.01	)	 	 	(0.08	)	
Net earnings	 	 	0.29	 	 	 	0.52	 	 	 	0.57	 	 	 	0.53	 	 	 	1.91	 	 	 	0.58	 	 	 	0.91	 	 	 	1.49	 	
 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Diluted earnings (loss) per common share:	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Continuing operations	 	$	0.33	 	 	$	0.54	 	 	$	0.58	 	 	$	0.55	 	 	$	1.99	 	 	$	0.65	 	 	$	0.91	 	 	$	1.55	 	
Discontinued operations	 	 	(0.04	)	 	 	(0.02	)	 	 	(0.00	)	 	 	(0.02	)	 	 	(0.08	)	 	 	(0.07	)	 	 	(0.01	)	 	 	(0.08	)	
Net earnings	 	 	0.29	 	 	 	0.52	 	 	 	0.57	 	 	 	0.53	 	 	 	1.91	 	 	 	0.58	 	 	 	0.90	 	 	 	1.47	 	

 
DOVER CORPORATION — INVESTOR
SUPPLEMENT SECOND QUARTER 2010
DOVER CORPORATION
QUARTERLY FREE CASH FLOW INFORMATION
(unaudited)(in thousands)
 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
 	 	2009	 	 	2010	 	
 	 	Q1	 	 	Q2	 	 	Q3	 	 	Q4	 	 	FY 2009	 	 	Q1	 	 	Q2	 	
 	 	 	 	 	
Cash From Operations	 	$	114,866	 	 	$	192,436	 	 	$	246,811	 	 	$	247,947	 	 	$	802,060	 	 	$	87,066	 	 	$	231,199	 	
 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
CAPEX	 	 	(31,475	)	 	 	(26,976	)	 	 	(24,799	)	 	 	(36,759	)	 	 	(120,009	)	 	 	(39,336	)	 	 	(46,945	)	
 	 	 	 	 	
Free Cash Flow	 	$	83,391	 	 	$	165,460	 	 	$	222,012	 	 	$	211,188	 	 	$	682,051	 	 	$	47,730	 	 	$	184,254	 	

Free Cash Flow to Earnings From Continuing Operations	 	 	136.5	%	 	 	164.0	%	 	 	206.6	%	 	 	206.2	%	 	 	183.4	%	 	 	39.3	%	 	 	107.2	%	

Exhibit 99.3

Dover Corporation Second Quarter 2010 Conference Call July 23, 2010 9:00 am	

 

2 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 Corporation 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.	

 

3 Dover’s Q2 2010 Performance Continuing Earnings Per Share 2008 $3.67 Revenue $ 1.8B 29% $ 3.4B 22% EPS (cont.) $0.91 69% $1.55 80% Segment Margins 16.9% 560 bps 16.0% 530 bps Organic Rev. Growth 24% 15% Net Acq. Growth 4% 5% FCF $184M 12% $232M 7% Quarterly revenue and earnings increases reflect improving end-markets, share gains and benefits of productivity, including restructuring and supply chain Sequential and year-over-year bookings improvement is broad-based; book-to-bill of 1.08 Segment operating margin of 16.9%; strong sequential improvement vs. Q1 2010 Organic revenue growth of 24% driven by Electronic Technologies, Energy, Refrigeration Equipment & Product Identification Q2 Q2/Q2 2009 $1.99 $1.55 2010 1H 1H/1H	

 

4 Revenue Q2 2010 Industrial Products Engineered Systems Fluid Management Electronic Technologies Total Dover Organic 21% 14% 32% 37% 24% Net Acquisitions - 9% 4% 1% 4% Currency - - 1% 3% 1% Total 21% 23% 37% 41% 29%	

 

5 Sequential Results - Q2 10 / Q1 10 Material Handling Fluid Solutions Mobile Equipment Energy Product Identification Engineered Products 8% 19% 18% Electronic Technologies	

 

6 Industrial Products Revenue growth in Material Handling partially offset by softness in dry-bulk trailers and commercial aerospace Margin improvements driven by volume increases, prior restructuring and one-time gains of $4.1M Quarterly bookings up 38% driven by better non-residential construction markets and military orders Book-to-bill solid at 1.11 $ in millions Q2 2010 Q2 2009 % Change Revenue $462 $383 +21% Earnings $ 62 $ 25 +142% Margin 13.3% 6.6% 670 bps Bookings $512 $372 +38% Quarterly Comments 1H 2010 1H 2009 % Change Revenue $891 $818 +9% Earnings $113 $ 60 +88% Margin 12.6% 7.3% 530 bps Bookings $947 $701 +35%	

 

7 Engineered Systems Revenue gains from Product ID and Hill Phoenix (including 2009 acquisitions) Improved operating margin driven by volume increases at Hill Phoenix, partially offset by net material costs at SWEP Markem-Imaje business trends remain solid; Hill Phoenix continues to benefit from active remodel programs by key customers •Bookings up 29% year-over-year reflecting strong seasonal demand at Hill Phoenix; book-to-bill is 1.04 $ in millions Quarterly Comments Q2 2010 Q2 2009 % Change Revenue $577 $467 +23% Earnings $ 85 $ 57 +47% Margin 14.7% 12.3% 240 bps Bookings $602 $466 +29% 1H 2010 1H 2009 % Change Revenue $1,061 $868 +22% Earnings $ 139 $101 +38% Margin 13.1% 11.6% 150 bps Bookings $1,191 $878 +36%	

 

8 Fluid Management Revenue growth driven by NA rig count growth, continued penetration of horizontal drilling and solid pump demand Operating margin improved to 23.8% on volume gains and favorable mix Fluid Solutions markets showing broad-based recovery in end- market demand Bookings growth solid across the segment; book-to-bill 1.04 $ in millions Quarterly Comments Q2 2010 Q2 2009 % Change Revenue $404 $295 +37% Earnings $ 96 $ 56 +73% Margin 23.8% 18.8% 500 bps Bookings $418 $292 +43% 1H 2010 1H 2009 % Change Revenue $784 $626 +25% Earnings $183 $131 +40% Margin 23.3% 20.9% 240 bps Bookings $805 $585 +38%	

 

9 Electronic Technologies Year-over-year revenue growth driven by strong demand for electronic assembly equipment, solar equipment and MEMS microphones Operating margin of 17.2% resulting from strong leverage on higher volume and improved cost base Product innovation driving results at Knowles and DEK Year-over-year bookings remain strong across the segment resulting is book-to-bill of 1.14 $ in millions Quarterly Comments Q2 2010 Q2 2009 % Change Revenue $346 $246 +41% Earnings $ 60 $ 18 +231% Margin 17.2% 7.3% 990 bps Bookings $394 $243 +62% 1H 2010 1H 2009 % Change Revenue $637 $460 +38% Earnings $104 $ 6 Margin 16.4% 1.3% Bookings $753 $467 +61%	

 

Q2 2010 Overview Q2 2010 Free Cash Flow $184.3 million, 12% of revenue Net Interest Expense $26.9 million, up $3 million from prior year reflecting lower yield on investments Net Debt to Capital 18.1%, largely unchanged from year-end 2009 Effective Tax Rate (ETR) 29.2%, in-line with full-year expectations Corporate Expense $32.4 million, up $3 million reflecting costs associated with relocation and deal related expenses 10	

 

11 2010 Guidance - Update Revenue: Core revenue: 13% - 15% 2009 Acquisitions: 3% Total revenue: 16% - 18% Corporate expense: $130 million Interest expense: $110 million Full-year tax rate: 29% - 30% Capital expenditures: 2.5% of revenue Free cash flow for full year: > 10% of revenue Full year EPS: $3.05 - $3.25	

 

12 2010 EPS Guidance Bridge - Cont. Ops 2009 EPS - Continuing Ops $1.99 Volume, mix, price (inc. FX): $0.98 - $1.15 2009 acquisitions: $0.12 Net benefits of restructuring/productivity: $0.51 - $0.58 Compensation & benefits: ($0.20 - $0.28) Corporate expense: ($0.04) Interest: ($0.03) Tax rate / other: ($0.28 - $0.24) 2010 EPS - Continuing Ops $3.05 - $3.25