Roper Industries Conference Call Highlights

Benzinga

Roper Industries (NYSE: ROP) reported its second quarter earnings on Monday. Shares of the company are up 2.08 percent.

Below are some key highlights and takeaways from its conference call:

• Operating profits up 18 percent to $247 million in the second quarter.
• Our revenue was up 13 percent in the quarter on a GAAP basis but 10 percent on an adjusted basis.
• Our first half operating cash flow you could see represents 21 percent of revenue at $353 million and our free cash flow at $333 million.
• $845 million of operating cash flow in the last 12 months and that's up from $620 million just two years ago.
• So that's a 35 percent improvement in just two years.
• The year ago, our cash was $375 million. Today it's $565 million.

Guidance:

• We think revenue growth should come in for the full year around 8 percent to 9 percent and organic growth should be around 6 percent to 7 percent now.
• The organic growth when we started the year at the end of 2013 here in the report, we established organic guidance at 4 percent to 7 percent.
• We move the organic guidance up to 5 percent to 7 percent.
• And then, now we're moving at up to 6 percent to 7 percent for the full-year, with 8 percent growth we enjoyed in the second quarter.
• Revenue growth in the third quarter though should be up 5 percent to 6 percent, so we established DEPS guidance here of $1.49 to $1.53.
• Our EBITDA was up 14 percent to $295 million and we've raised our full-year guidance.
• And we had just an excellent first half performance with these record margins organic growth.
• We think our full-year cash conversion will again be outstanding like it was last year.
• And our current acquisition discussions remain mostly in the Medical and Software.

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