WASHINGTON (dpa-AFX) - IDEX Corp. (IEX) reported that its third-quarter net income increased to $71.44 million or $0.88 per share, an increase from $63.80 million or $0.78 per share, prior year. EBITDA was $131 million, a 12 percent increase from prior year.
On average, 13 analysts polled by Thomson Reuters expected the company to report profit per share of $0.84 for the quarter. Analysts' estimates typically exclude special items.
Sales were $533 million; up 9 percent (+7 percent organic, +1 percent acquisition and +1 percent foreign currency translation) compared with last year. Orders in the quarter of $507 million were down 5 percent (-6 percent organic and +1 percent foreign currency translation) compared with the prior year period and flat excluding the prior period large dispensing equipment order.
The company expects fourth-quarter organic revenue growth to be low-to-mid single digits, resulting in full year organic revenue growth of 5 to 6 percent. The company also expects fourth-quarter EPS in the range of $0.85 to $0.88 and full year 2014 EPS of $3.52 to $3.55. Analysts expect the company to report fourth-quarter profit per share of $0.90, and full year earnings per share of $3.53.
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