Dover Reports Q4 EPS of .94 vs. $.82

Dover Corporation DOV announced earlier today that for the fourth quarter ended December 31, 2010, revenue was $1.9 billion, an increase of 24% over the prior year period. The revenue increase was driven by organic growth of 23%, a 2% increase from acquisitions, and a 1% unfavorable impact from foreign exchange. Earnings from continuing operations for the fourth quarter of 2010 were $191.8 million or $1.01 diluted earnings per share ("EPS"), compared to $102.4 million or $0.55 diluted EPS from continuing operations in the prior-year period, representing increases of 87% and 85%, respectively. Excluding the impact of tax benefits of $0.07 recognized in the quarter, adjusted diluted EPS from continuing operations was $0.94, an increase of 71% over the prior year. The tax benefits of $0.07 were principally related to the favorable resolution of domestic tax positions.