Dover Corp. (DOV) Misses Q1 EPS by 8c; FY16 EPS Outlook Lowered
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Dover Reports First Quarter 2016 Results And Updates Full Year Guidance
April 21, 2016 6:55 AM EDTDOWNERS GROVE, Ill., April 21, 2016 /PRNewswire/ -- Dover (NYSE: DOV) announced today that for the first quarter ended March 31, 2016, revenue was $1.6 billion, a decrease of 5% from the prior year. Organic revenue declined 7% and foreign exchange had an unfavorable impact of 1%. Acquisition revenue, net of dispositions, provided 3% growth in the quarter. Earnings from continuing operations were $99.4 million, a decrease of 15% as compared to $117.2 million for the prior year period. Diluted earnings per share from continuing operations ("EPS") for the first quarter ended March 31, 2016 were $0.64, compared to $0.72 EPS in the prior year period,... More
