IDEX Corporation Reports Q4 EPS of $.54 vs. $.51

IDEX Corporation IEX today announced its financial results for the three- and twelve-month periods ended December 31, 2010. New orders in the quarter totaled $409 million, up 17 percent compared to the prior year period. Sales in the quarter totaled $405 million, 18 percent higher than the prior year period. For the quarter on an organic basis, both orders and sales were 14 percent higher than the prior year period. Fourth quarter 2010 operating income, adjusted for nearly $5 million of restructuring related charges, was $71 million and resulted in adjusted operating margin of 17.4 percent, up 100 basis points from the prior year (excluding prior year restructuring related charges) due to volume and improved productivity. Adjusted and reported fourth quarter operating income includes approximately $2 million of acquisition related costs. Excluding the impact from restructuring related charges, fourth quarter adjusted diluted earnings per share was 54 cents, an increase of 10 cents, or 23 percent, from the fourth quarter of the previous year (excluding prior year restructuring related charges).