Idex beats 4Q profit forecasts

LAKE FOREST, Ill. (AP) _ IDEX Corp. (IEX) on Monday reported fourth-quarter net income of $57.3 million.

The Lake Forest, Illinois-based company said it had profit of 75 cents per share. Earnings, adjusted for non-recurring costs, were 96 cents per share.

The results topped Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 93 cents per share.

The maker of the Jaws of Life device and other engineered products posted revenue of $530.4 million in the period, falling short of Street forecasts. Nine analysts surveyed by Zacks expected $548.5 million.

For the year, the company reported profit of $271.1 million, or $3.53 per share. Revenue was reported as $2.11 billion.

Idex expects full-year earnings to be $3.87 to $3.95 per share.

Idex shares have increased 2 percent since the beginning of the year. In the final minutes of trading on Monday, shares hit $92.02, an increase of 32 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on IEX at https://www.zacks.com/ap/IEX

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Keywords: Idex, Earnings Report