IDEX Corporation Expands Number of Reporting Segments; New Structure Reflects More Focused Market Strategy Aligned with Emerging Customer Needs.NORTHBROOK Northbrook, village (1990 pop. 32,308), Cook co., NE Ill., a suburb of Chicago; settled 1836. It was incorporated as Shermerville in 1901 and was reincorporated as Northbrook in 1923. , Ill. -- IDEX IDEX International Development Exchange IDEX Imagery Data Exploitation System IDEX Imagery Digital Exploitation (system) IDEX Identifier of Explorer Corporation (NYSE NYSE See: New York Stock Exchange :IEX IEX Ion Exchange (chromatography) IEX Inter-Exchange Carrier ) today announced the expansion of its number of reporting segments from three to four segments. Effective with the reporting of its financial results for the three months ending June June: see month. 30, 2006, IDEX's segments will be disclosed dis·close tr.v. dis·closed, dis·clos·ing, dis·clos·es 1. To expose to view, as by removing a cover; uncover. 2. To make known (something heretofore kept secret). as: --Fluid & Metering Technologies --Health & Science Technologies --Dispensing Equipment --Fire & Safety/Diversified Products "The new business structure reflects a more focused market strategy across all businesses and provides a strong platform to support our future growth," said Larry Lar´ry n. 1. Same as Lorry, or Lorrie. Kingsley Kings·ley , Charles 1819-1875. British cleric and writer whose works include novels of social criticism, notably Alton Locke (1850), historical romances, such as Westward Ho! (1855), and a fairy tale, The Water Babies (1863). , Chairman and Chief Executive Officer. "Through this new structure, we will be better positioned to address emerging customer needs in industrial fluid and metering technologies, health and science instrumentation instrumentation, in music: see orchestra and orchestration. instrumentation In technology, the development and use of precise measuring, analysis, and control equipment. and equipment, dispensing dispensing provision of drugs or medicines as set out properly on a lawful prescription. A prescription can only be filled, the drugs supplied, by a registered pharmacist, veterinarian, dentist or member of the medical profession. , and fire and safety. The addition of a fourth segment reflects our evolving capability and content for applied health and science technologies." Under the new structure, the Fluid & Metering Technologies segment will consist of the following IDEX business units: Liquid Controls, Pulsafeeder, Viking Viking Either of two unmanned U.S. spacecraft launched by NASA in 1975. After nearly yearlong journeys, Vikings 1 and 2 entered orbits around Mars and released landers that touched down on the planet and relayed measurements of properties of its atmosphere and soil, as well , Warren Warren. 1 City (1990 pop. 144,864), Macomb co., SE Mich., a suburb of Detroit; est. 1837, inc. as a city 1957. It is an important metalworking center where steel is processed. Rupp and Versa-Matic. The Health & Science Technologies segment will include Gast Manufacturing, Micropump, Rheodyne, Scivex and recently-acquired Eastern Plastics Inc. (EPI EPI exocrine pancreatic insufficiency. ). The Dispensing Equipment segment will consist of FAST, Fluid Management and Lubriquip. The Fire & Safety/Diversified Products segment will include the company's Hale Products' fire suppression suppression /sup·pres·sion/ (su-presh´un) 1. the act of holding back or checking. 2. sudden stoppage of a secretion, excretion, or normal discharge. 3. and rescue tools businesses, as well as its BAND-IT engineered clamping clamping (klamp´ing) in the measurement of insulin secretion and action, the infusion of a glucose solution at a rate adjusted periodically to maintain a predetermined blood glucose concentration. business. For informational purposes, the attached tables present the company's historical financial data for fiscal years 2004 and 2005, as well as its quarterly financial data for the previous five quarters, reflecting the new segments. IDEX Corporation plans to issue its second quarter financial results on July July: see month. 20, 2006. About IDEX IDEX Corporation is an applied solutions company specializing in fluid and metering technologies, health and science technologies, dispensing equipment, and fire, safety and other diversified diversified (di·verˑ·s products built to its customers' exacting specifications. Its products are sold in niche markets A niche market also known as a target market is a focused, targetable portion (subset) of a market sector. By definition, then, a business that focuses on a niche market is addressing a need for a product or service that is not being addressed by mainstream providers. to a wide range of industries throughout the world. IDEX shares are traded on the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. and Chicago Stock Exchange Chicago Stock Exchange (CHX) A major exchange trading only stocks, with 90% of trades taking place on an automated execution system, called MAX. under the symbol "IEX". For further information on IDEX Corporation and its business units, visit the company's Web site at www.idexcorp.com.
(Tables follow)
IDEX Corporation
----------------
Historical Financial Data Reflecting New Segment Structure
(Dollars in millions)
--------- --------- --------- --------- ---------
Q1 2006 Q1 2005 Q2 2005 Q3 2005 Q4 2005
--------- --------- --------- --------- ---------
Fluid & Metering
Technologies:
Net sales $102,399 $93,471 $98,793 $98,205 $95,013
Operating income 19,277 15,316 18,283 19,293 18,316
Operating margin 18.8% 16.4% 18.5% 19.6% 19.3%
Depreciation and
amortization $2,251 $2,607 $2,545 $2,448 $2,295
Capital
expenditures 1,132 2,500 2,539 1,461 1,741
Health & Science
Technologies:
Net sales $63,021 $52,921 $59,541 $60,517 $62,520
Operating income 12,299 9,015 10,130 11,602 12,449
Operating margin 19.5% 17.0% 17.0% 19.2% 19.9%
Depreciation and
amortization $1,395 $1,519 $1,509 $1,450 $1,424
Capital
expenditures 877 1,084 1,568 1,639 1,226
Dispensing Equipment:
Net sales $49,612 $51,327 $53,117 $40,936 $42,434
Operating income 11,432 11,578 13,230 7,882 8,095
Operating margin 23.0% 22.6% 24.9% 19.3% 19.1%
Depreciation and
amortization $1,199 $1,298 $1,298 $1,257 $1,357
Capital
expenditures 766 951 903 1,012 958
Fire &
Safety/Diversified
Products:
Net sales $61,216 $55,572 $61,199 $59,388 $62,833
Operating income 13,675 11,561 13,988 14,972 16,161
Operating margin 22.3% 20.8% 22.9% 25.2% 25.7%
Depreciation and
amortization $1,533 $1,564 $1,487 $1,297 $1,348
Capital
expenditures 1,137 791 995 854 1,717
Company:
Net sales $275,071 $252,058 $271,758 $257,930 $261,529
Operating income 48,461 40,695 48,132 46,649 47,311
Operating margin 17.6% 16.1% 17.7% 18.1% 18.1%
Depreciation and
amortization $6,489 $7,139 $6,990 $6,558 $6,441
Capital
expenditures 4,121 5,707 6,160 5,287 5,840
----------- -----------
FY 2005 FY 2004
----------- -----------
Fluid & Metering
Technologies:
Net sales $385,482 $354,271
Operating income 71,208 61,145
Operating margin 18.5% 17.3%
Depreciation and
amortization $9,895 $9,614
Capital
expenditures 8,241 10,781
Health & Science
Technologies:
Net sales $235,499 $188,292
Operating income 43,196 32,211
Operating margin 18.3% 17.1%
Depreciation and
amortization $5,902 $6,850
Capital
expenditures 5,517 3,187
Dispensing Equipment:
Net sales $187,814 $170,198
Operating income 40,785 33,489
Operating margin 21.7% 19.7%
Depreciation and
amortization $5,210 $5,616
Capital
expenditures 3,824 2,769
Fire &
Safety/Diversified
Products:
Net sales $238,992 $219,006
Operating income 56,682 47,120
Operating margin 23.7% 21.5%
Depreciation and
amortization $5,696 $6,012
Capital
expenditures 4,357 3,204
Company:
Net sales $1,043,275 $928,297
Operating income 182,787 149,384
Operating margin 17.5% 16.1%
Depreciation and
amortization $27,128 $28,636
Capital
expenditures 22,994 21,097
IDEX Corporation
----------------
Historical Financial Data Reflecting New Segment Structure
(Dollars in millions)
--------- --------- --------- --------- ----------
Q1 2006 Q1 2005 Q2 2005 Q3 2005 Q4 2005
--------- --------- --------- --------- ----------
Net sales:
Fluid & Metering
Technologies:
External
customers $102,117 $93,238 $98,322 $97,779 $94,605
Intersegment
sales 282 233 471 426 408
--------- --------- --------- --------- ----------
Total group
sales 102,399 93,471 98,793 98,205 95,013
--------- --------- --------- --------- ----------
Health & Science
Technologies:
External
customers 62,128 51,923 59,122 59,828 61,658
Intersegment
sales 893 998 419 689 862
--------- --------- --------- --------- ----------
Total group
sales 63,021 52,921 59,541 60,517 62,520
--------- --------- --------- --------- ----------
Dispensing Equipment:
External
customers 49,611 51,327 53,117 40,936 42,434
Intersegment
sales 1 - - - -
--------- --------- --------- --------- ----------
Total group
sales 49,612 51,327 53,117 40,936 42,434
--------- --------- --------- --------- ----------
Fire & Safety/Diversified
Products:
External
customers 61,215 55,570 61,197 59,387 62,832
Intersegment
sales 1 2 2 1 1
--------- --------- --------- --------- ----------
Total group
sales 61,216 55,572 61,199 59,388 62,833
--------- --------- --------- --------- ----------
Intersegment
eliminations (1,177) (1,233) (892) (1,116) (1,271)
--------- --------- --------- --------- ----------
Total net
sales $275,071 $252,058 $271,758 $257,930 $261,529
========= ========= ========= ========= ==========
Operating income:
Fluid & Metering
Technologies $19,277 $15,316 $18,283 $19,293 $18,316
Health & Science
Technologies 12,299 9,015 10,130 11,602 12,449
Dispensing
Equipment 11,432 11,578 13,230 7,882 8,095
Fire &
Safety/Diversified
Products 13,675 11,561 13,988 14,972 16,161
Corporate office
and other (8,222) (6,775) (7,499) (7,100) (7,710)
--------- --------- --------- --------- ----------
Total operating
income $48,461 $40,695 $48,132 $46,649 $47,311
========= ========= ========= ========= ==========
----------- ----------
FY 2005 FY 2004
----------- ----------
Net sales:
Fluid & Metering
Technologies:
External
customers $383,944 $352,265
Intersegment
sales 1,538 2,006
----------- ----------
Total group
sales 385,482 354,271
----------- ----------
Health & Science
Technologies:
External
customers 232,531 186,836
Intersegment
sales 2,968 1,456
----------- ----------
Total group
sales 235,499 188,292
----------- ----------
Dispensing Equipment:
External
customers 187,814 170,195
Intersegment
sales - 3
----------- ----------
Total group
sales 187,814 170,198
----------- ----------
Fire &
Safety/Diversified
Products:
External
customers 238,986 219,001
Intersegment
sales 6 5
----------- ----------
Total group
sales 238,992 219,006
----------- ----------
Intersegment
eliminations (4,512) (3,470)
----------- ----------
Total net
sales $1,043,275 $928,297
=========== ==========
Operating income:
Fluid & Metering
Technologies $71,208 $61,145
Health & Science
Technologies 43,196 32,211
Dispensing
Equipment 40,785 33,489
Fire &
Safety/Diversified
Products 56,682 47,120
Corporate office
and other (29,084) (24,581)
----------- ----------
Total operating
income $182,787 $149,384
=========== ==========
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