Dover Corp. (DOV) Misses Q2 EPS by 9c; Cuts FY16 Outlook
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Dover Reports Second Quarter 2016 Results And Updates Full Year Guidance
July 21, 2016 6:40 AM EDTDOWNERS GROVE, Ill., July 21, 2016 /PRNewswire/ -- Dover (NYSE: DOV) announced today that for the second quarter ended June 30, 2016, revenue was $1.7 billion, a decrease of 4% from the prior year. Organic revenue declined 7% and acquisition revenue, net of dispositions, provided 3% growth in the quarter. Earnings from continuing operations were $118.3 million, a decrease of 24% as compared to $155.6 million for the prior year period. Diluted earnings per share from continuing operations ("EPS") for the second quarter ended June 30, 2016, were $0.76, compared to $0.97 EPS in the prior year period, representing a decrease of 22%. EPS from continuing... More
