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Roper 1st-qtr profit rises on growth across units

SARASOTA, Fla. (AP) -- Roper Industries Inc., a medical and industrial equipment maker, said Monday that its first-quarter net income rose 22 percent, helped by higher revenue across all of its business segments.

The company earned $108.3 million, or $1.09 per share, for the three months ended March 31. That was up from $89 million, or 91 cents per share, in the same period a year earlier.

Revenue rose 10 percent to $711.1 million, from $645.3 million the prior year.

Analysts, on average, were expecting earnings of $1.04 per share on revenue of $704.3 million, according to data provided by FactSet.

The revenue increase reflected gains across all of its units, Roper said. Sales in industrial technology rose 15 percent to $195.1 million, while sales in energy systems and controls also rose 15 percent, to $148.6 million.

Its medical and scientific imaging sales jumped 12 percent to $162.8 million, and RF technology sales rose 12 percent to $204.5 million.

Citing the strong first quarter and better insight into the second half of the year, Roper increased its full-year earnings guidance. It now expects to earn between $4.75 and $4.91 per share, up from its prior estimate of $4.67 to $4.87 per share.

Analysts, on average, are expecting $4.78 per share, with estimates ranging from $4.71 to $4.85.

Roper shares added 76 cents to $98.90 in late morning trading on Monday.