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ROPER INDUSTRIES ANNOUNCES RECORD THIRD QUARTER RESULTS, STOCK SPLIT AND DIVIDEND INCREASE

 BOGART, Ga., Aug. 23 /PRNewswire/ -- Roper Industries, Inc. (NASDAQ: ROPR) announced today that net earnings for its fiscal third quarter (ended July 31) increased by 294 percent over the comparable quarter for the prior year on a 138 percent increase in net sales.
 The company also announced a 2-for-1 stock split and a 50 percent increase in its cash dividend payout.
 Net earnings for the third quarter of 1993 were $7.2 million as compared to prior year earnings of $1.8 million. Net sales moved upward to $41.1 million from $17.3 million in the prior year quarter. Earnings per share in the third quarter were $.97 as compared to $.27 in the prior year period on a pre-split basis ($.49 and $.13 respectively after giving effect to the split), and in point of fact, exceeded total earnings reported by the company in any prior fiscal year. The increase in earnings per share was achieved despite a 7 percent increase in weighted average shares outstanding.
 The improvement in third quarter sales and earnings was due principally to the inclusion of Compressor Controls Corporation -- acquired Sept. 30, 1992. In addition, shipments increased and margins improved in both the fluid handling and industrial control segments of the business. While total bookings advanced year over year, they were flat if third quarter 1992 results are adjusted to include CCC bookings.
 During the quarter, total funded debt was reduced by 57 percent from $23.1 million to $9.9 million. At July 31, the company's total funded debt was 16 percent of total capitalization.
 The company's board of directors declared a 2-for-1 stock split in the form of a 100 percent stock dividend and a cash dividend of $.03 per share, after giving effect to the split which represents a 50 percent increase in the company's dividend payout. Previous quarterly dividends were $.04 per share on a pre-split basis. Both the stock and cash dividends will be distributed on Sept. 20 to stockholders of record at the end of business on Sept. 3.
 Roper Industries, Inc. is an international manufacturer of industrial control and fluid handling products. Its operations are reported in two segments: Industrial Controls (Amot Controls Corporation, Amot Controls Ltd and Compressor Controls Corporation) and Fluid Handling (Roper Pump Company and Cornell Pump Company).
 ROPER INDUSTRIES, INC. AND SUBSIDIARIES
 Condensed Consolidated Statements of Earnings
 (in thousands, except per share data)
 (unaudited)
 3 mos. ended 9 mos. ended
 7/31/93 7/31/92 7/31/93 7/31/92
 Net sales $41,054 $17,258 $89,268 $49,238
 Cost of goods sold 18,663 9,875 43,018 28,603
 Gross profit 22,391 7,383 46,250 20,635
 Selling, gen. & admin. exps. 11,003 4,290 27,290 14,843
 Income from operations 11,388 3,093 18,960 5,792
 Interest expense 433 181 1,654 1,890
 Interest income 18 28 36 145
 Earnings before income taxes 10,973 2,940 17,342 4,047
 Income taxes 3,731 1,102 5,897 1,517
 Net earnings $ 7,242 $ 1,838 $11,445 $ 2,530
 Pre-split earnings per
 common share $ .97 $ .27 $ 1.55 $ .41
 Pre-split weighted average
 common shares and common
 share equivalents
 outstanding 7,436 6,935 7,377 6,100
 Post-split earnings
 per common share $ .49 $ .13 $ .78 $ .21
 Post-split weighted average
 common shares and common
 share equivalents
 outstanding 14,871 13,870 14,754 12,200
 NOTE: 1992 nine months net earnings have been reduced by a one-time
 charge (shown in selling, general and administrative
 expenses) of $1,163,000.
 ROPER INDUSTRIES, INC. AND SUBSIDIARIES
 Condensed Consolidated Balance Sheets
 (in thousands)
 ASSETS
 7/31/93 10/31/92
 (unaudited)
 CURRENT ASSETS:
 Cash and cash equivalents $ 684 $ 1,713
 Trade and other accounts receivable,
 less allowance for doubtful accounts
 of $377 and $341, respectively 15,922 15,373
 Inventories 13,629 12,399
 Income tax receivable --- 1,735
 Prepaid expenses 650 540
 Total current assets 30,885 31,760
 Property, plant and equipment 37,915 35,578
 Less accumulated depreciation (21,709) (19,523)
 Property, plant and equipment, net 16,206 16,055
 Goodwill and other intangible assets,
 (net of accumulated amortization) 31,648 33,114
 Other assets 154 56
 Total $78,893 $80,985
 LIABILITIES AND STOCKHOLDERS' EQUITY
 7/31/93 10/31/92
 (unaudited)
 CURRENT LIABILITIES:
 Bank overdraft $ --- $ 116
 Accounts payable 5,973 3,535
 Interest payable 94 252
 Accrued compensation 1,632 1,486
 Other accrued liabilities 4,020 1,627
 Income taxes payable 3,793 1,704
 Current portion of long-term debt 1,011 1,747
 Total current liabilities 16,523 10,467
 Long-term debt 8,868 28,366
 Deferred income taxes 1,342 1,346
 Other liabilities 438 304
 Total liabilities 27,171 40,483
 STOCKHOLDERS' EQUITY:
 Common stock, $.01 par value;
 25,000 shares authorized;
 7,321 and 7,294 issued
 and outstanding, respectively(a) 73 73
 Additional paid-in-capital 35,611 34,753

 Cumulative translation adjustment (862) (654)
 Retained earnings 16,900 6,330
 Total stockholders' equity 51,722 40,502
 Total $78,893 $80,985
 (a) Shares outstanding are shown on a pre-split basis.
 ROPER INDUSTRIES, INC. AND SUBSIDIARIES
 Segment Financial Data
 (in thousands)
 (unaudited)
 3 mos. ended 7/31/93 7/31/92 Pct. change
 Net sales:
 Industrial controls $29,226 $ 6,799 329.9
 Fluid handling 11,828 10,459 13.1
 Total 41,054 17,258 137.9
 Gross profit:
 Industrial controls 17,455 3,214 443.1
 Fluid handling 4,936 4,169 18.4
 Total 22,391 7,383 203.3
 Operating profit(a)
 Industrial controls 9,320 1,220 663.9
 Fluid handling 2,843 2,310 23.1
 Total $12,163 $ 3,530 244.6
 9 mos. ended 7/31/93 7/31/92 Pct. change
 Net sales:
 Industrial controls $56,140 $19,434 188.9
 Fluid handling 33,128 29,804 11.2
 Total 89,268 49,238 81.3
 Gross profit:
 Industrial controls 33,027 8,843 273.5
 Fluid handling 13,223 11,792 12.1
 Total 46,250 20,635 124.1
 Operating profit(a)
 Industrial controls 13,749 2,679 413.2
 Fluid handling 7,295 6,309 15.6
 Total $21,044 $ 8,988 134.1
 (a) Operating profit is before any allocation for corporate general and administrative expenses. Corporate general and administrative expenses were $775,000 for quarter ended July 31, 1993 and $437,000 for quarter ended July 31, 1992, and $2,084,000 and $3,196,000 for nine months ended July 31, 1993 and 1992, respectively. The prior year nine month period includes a one-time charge of $1,861,000.
 -0- 8/23/93
 /CONTACT: A. Donald O'Steen of Roper Industries, 706-369-7170/
 (ROPR)


CO: Roper Industries, Inc. ST: Georgia IN: SU: ERN DIV

RA-BR -- AT007 -- 5199 08/23/93 17:18 EDT
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Date:Aug 23, 1993
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