Shares of Roper Industries, 3M Co, Honeywell International and Textron Inc all fell today after Shannon O'Callaghan, a Barclays Capital analyst, downgraded the industrial and manufacturing sector.
Roper Industries announced that it had acquired Technolog, which makes metering and monitoring equipment for water, gas and electricity markets. Technolog joins Horizon Software International and CBORD as some of the company's recent additions to its RF Technology segment.
Roper Industries announced that it had acquired Horizon Software International, which develops software and provides related services to the higher education, healthcare, corporate and military market markets. This acquisition complements the company's recent takeover of CBORD, which also operates in the higher education and healthcare markets. Both CBORD and Horizon Software International operate in Roper Industries' RF Technology segment.
Diversified manufacturer Roper Industries raised its full-year earnings outlook again and reported a second quarter net income of $75.7 million, or 80 cents a share, compared with $61.2 million, or 66 cents a share, in the same period a year ago.
Diversified manufacturer Roper Industries raised its full-year earnings outlook and reported first quarter net income of $63.6 million, or 68 cents a share, compared with $51.4 million, or 56 cents a share, in the same period a year ago.
Diversified manufacturer Roper Industries acquired CBORD Group, a supplier of card and integrated security systems, in a deal valued at $367 million. The company expects this deal to add 2 cents to 3 cents a share to its 2008 earnings and to increase 2009 earnings per share by up to 10 cents.