Roper Technologies Inc (ROP) 2004Q2電話會議重點和逐字稿 - 財報狗 (2024)

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• Operator

• Good day everyone and welcome to this Roper Industries second quarter 2004 financial results conference call.

• This call is being recorded.

• At this time, I would like to turn the call over to the Director of Investor Relations, Mr. Chris Hicks for opening remarks and introductions.

• - Director of Investor Relations

• Thank you, Jamie.

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• And thank you all for joining us this morning for Roper Industries second quarter 2004 conference call.

• Participating in today's call are Brian Jellison, Chairman, President and Chief Executive Officer and Martin Headley, Chief Financial Officer.

• Yesterday afternoon we issued a press release of our second quarter financial results.

• These results included exceptional sales earnings, cash flow and organic growth performance, demonstrating the value of Roper's growth strategy and execution capabilities.

• If you have not already seen the press release, you can obtain it from our website at Roperind.com.

• The press release also includes telephonic replay information for today's meeting.

• In a moment, I will turn the meeting over to Brian Jellison for his remarks.

• Following which we will take questions from our telephone participants.

• We have prepared slides to accompany today's remarks which are available through the webcast and are viewer controlled.

• The sites can also be obtained in PDF format from the Investor Information section of our website.

• Please turn to slide two.

• Today's meeting includes forward-looking statements, I'd like to remind everyone of our Safe Harbor statement, which is included in both the press release and the slides for today's call.

• Please also refer to our 2003 Form 10K, which indicates specific risks and uncertainties for Roper Industries.

• With that, I ask you to turn to slide three as I turn the call over to Brian Jellison.

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• Brian?

• - Chairman, President, CEO

• Thanks, Chris and good morning everyone.

• As you see, the topics for today we'll talk about our record financial results in all three categories, net sales, earnings, and cash flow.

• We'll talk a little bit about the margin expansion we achieved in the quarter which we think will continue and actually expand throughout the year.

• Certainly the 63 cents was at the high and of our guidance range, which had been 57 to 63 and above the consensus numbers.

• The growth strategy continues to work, we'll talk a good deal about our organic growth and with driving some of that.

• Neptune continues to perform very well double digit gains in the quarter.

• We've got our first acquisition squeezed into the second quarter this year and we'll talk just a little bit about that.

• That's integration activities already well underway.

• We turn to the next slide, you can see here that net sales were up 40% from 166 to 232 million.

• Income from operations was up 370 basis points to 17.5%, and the actual went up 77% from 23 to 41 million.

• Our net earnings increased from 13 to 24 million, which is an 86% improvement over the second quarter last year, and our diluted earnings per share of course, hit the 63 cents.

• Next page.

• If we look at sequential performance, in addition to year over year performance you can see that in the second quarter we were up 11 million over the first quarter and the reported income from operations in the first quarter was 33 million this year it, quarter its 41, which is an $8 million positive variance, but we do want to remind people that the adjusted income in the first quarter would have been 36 million when you add back the inventory revaluation for Neptune's step up, and a little bit of restructuring to complete our CCC activities in the first quarter.

• So the honest comp, is 41 million against 36 so we were up 5 million on 11 which is a little over 45%.

• And then the cash, of course, continues to be very strong. as you see we've gone cash ops from 26 to 40 million in the quarter.

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