Roper Industries Raises Full Year Guidance ( ROP)

Sarasota, Florida based Roper Industries, Inc. ROP released financial results on Monday morning and announced acquisition plans. Roper Industries, Inc. (ROP) announced that its 2nd quarter net income rose to $71.3 million, or 74 cents per share, up from $59.6 million, or 64 cents per share, a year earlier. The company reported that its net sales climbed 12% to $567.1 million. According to a poll of analysts by Thomson Reuters, the average Wall Street estimate called for earnings of 74 cents per share, on revenue of $559.02 million. Roper Industries also announced that it will buy supply chain software producer iTradeNetwork Inc. for $525 million in a cash transaction. The company forecast 3rd quarter earnings of 75 cents to 80 cents per share and raised its full year earnings forecast to a range of $3.05 to $3.15 per share, up from its previous forecast of $2.95 to $3.10 per share. Roper Industries closed Friday trading at $62.01 per share. The consensus price target of analysts covering the company's stock is $65.75 per share. Read more from Benzinga's Company news.