|
Roper Technologies Announces Record Second Quarter Results
SARASOTA, Fla., July 27, 2015 /PRNewswire/ -- Roper Technologies, Inc. (NYSE: ROP) reported financial results for the second quarter ended June 30, 2015.
Roper reports results, including revenue, operating margin, net income and diluted earnings per share, on a GAAP and adjusted basis. Adjusted measures are reconciled to the corresponding GAAP measures at the end of this release.
Second quarter GAAP diluted earnings per share (DEPS) were $1.69, an 8% increase over the prior year and adjusted DEPS were $1.70, a 9% increase over last year. GAAP revenue increased to $890 million and adjusted revenue increased 1% to $892 million. GAAP operating profit increased to $252 million, representing 28.3% of revenue. Adjusted operating profit increased to $254 million and adjusted operating margin increased 60 basis points to 28.5%.
GAAP gross margin increased 90 basis points to 60.0% and adjusted gross margin increased to 60.1%, a 100 basis point gain over the prior year. Operating cash flow increased 23% to $173 million. First half operating cash flow was a record $433 million, a 23% increase over the prior year.
"We were pleased with our performance in the second quarter," said Brian Jellison, Roper's Chairman, President and CEO. "Continued growth in our Medical and RF Technology segments offset declines in energy-related markets. Our businesses acted quickly, taking appropriate cost actions in light of more difficult market conditions. EBITDA margin increased 60 basis points to 33.9%. Revenue from acquisitions completed in the last year contributed 4% growth, more than offsetting a 3% decline due to foreign exchange. Importantly, free cash flow was exceptional, as YTD free cash flow increased 24% to $412 million."
On July 20th, the company completed the acquisition of On Center Software, Inc., headquartered in The Woodlands, Texas. On Center Software is a leading provider of construction automation management solutions. "We are pleased to welcome Cecilia Padilla, her leadership team and all the employees of On Center to the Roper family," said Mr. Jellison. "With our record cash flow, a strong balance sheet and a full pipeline of opportunities, we expect to complete additional acquisitions in the year."
2015 Guidance Update
Roper expects full year diluted earnings per share to be $6.61 - $6.75 versus previous guidance of $6.75 - $6.95. This reflects continued strength in the company's Medical and RF Technology segments and more difficult end market conditions in energy-related markets, particularly businesses serving upstream oil and gas customers. The company expects third quarter diluted earnings per share to be $1.53 - $1.57. The company's guidance excludes the impact of any future acquisitions or divestitures.
Use of Non-GAAP Financial Information
The company supplements its consolidated financial statements presented on a GAAP basis with certain non-GAAP financial information to provide investors with greater insight, increase transparency and allow for a more comprehensive understanding of the information used by management in its financial and operational decision-making. Reconciliation of non-GAAP measures to their most directly comparable GAAP measures are included in the accompanying financial schedules or tables. The non-GAAP financial measures disclosed by the company should not be considered a substitute for, or superior to, financial measures prepared in accordance with GAAP, and the financial results prepared in accordance with GAAP and reconciliations from these results should be carefully evaluated.
|
Table 1: Q2 Revenue Growth Detail
|
|
|
|
|
|
|
Revenue
|
V%
|
|
Q2 2014 Revenue (A)
|
$885M
|
|
|
|
|
|
Q2 2015 GAAP Revenue
|
$890M
|
0%
|
|
Add: Purchase Accounting Adjustment to
Acquired Deferred Revenue (FoodLink, SHP,
Strata, SoftWriters, Data Innovations)
|
3
|
|
|
Rounding
|
(1)
|
|
|
Q2 2015 Adjusted Revenue (B)
|
$892M
|
|
|
Increase (B)/(A)
|
|
1%
|
|
|
|
|
Components of Adjusted Revenue Growth
|
|
|
|
Organic
|
|
0%
|
|
Acquisitions / Divestitures
|
|
4%
|
|
Foreign Exchange
|
|
(3%)
|
|
Total Growth
|
|
1%
|
|
|
|
|
Table 2: Reconciliation of GAAP DEPS to Adjusted DEPS
|
|
|
|
|
|
|
|
|
Q2 2015
|
Q2 2014
|
V%
|
|
GAAP Diluted Earnings Per Share (DEPS)
|
$1.69
|
$1.56
|
8%
|
|
Add: Purchase Accounting Adjustment to
Acquired Deferred Revenue (FoodLink, SHP,
Strata, SoftWriters, Data Innovations), net of
tax @35%
|
$0.02
|
-
|
|
|
Rounding
|
($0.01)
|
-
|
|
|
Adjusted DEPS
|
$1.70
|
$1.56
|
9%
|
|
|
|
|
|
Table 3: Free Cash Flow Reconciliation
|
|
|
|
|
|
|
|
|
1H 2015
|
1H 2014
|
V%
|
|
Operating Cash Flow
|
$433M
|
$353M
|
23%
|
|
Less: Capital Expenditures
|
(21)
|
(21)
|
|
|
Rounding
|
-
|
1
|
|
|
Free Cash Flow
|
$412M
|
$333M
|
24%
|
|
Table 4: Adjusted Revenue and Adjusted Gross Margin Reconciliation
|
|
|
|
|
|
|
|
|
2015
|
2014
|
V bps
|
|
Q2 GAAP Revenue
|
$889.5M
|
$885.2M
|
|
|
Add: Purchase Accounting Adjustment to
Acquired Deferred Revenue (FoodLink, SHP,
Strata, SoftWriters, Data Innovations)
|
2.5
|
-
|
|
|
Rounding
|
0.1
|
-
|
|
|
Q2 Adjusted Revenue (A)
|
$892.1M
|
$885.2M
|
|
|
|
|
|
|
Q2 GAAP Gross Profit
|
$533.9M
|
$523.2M
|
|
|
Add: Purchase Accounting Adjustment to
Acquired Deferred Revenue (FoodLink, SHP,
Strata, SoftWriters, Data Innovations)
|
2.5
|
-
|
|
|
Adjusted Gross Profit (B)
|
$536.4M
|
$523.2M
|
|
|
|
|
|
|
GAAP Gross Margin
|
60.0%
|
59.1%
|
+90 bps
|
|
|
|
|
|
Adjusted Gross Margin (B) / (A)
|
60.1%
|
59.1%
|
+100 bps
|
|
Table 5: Adjusted Revenue and Adjusted Operating Margin Reconciliation
|
|
|
|
|
|
|
|
|
2015
|
2014
|
V bps
|
|
Q2 GAAP Revenue
|
$889.5M
|
$885.2M
|
|
|
Add: Purchase Accounting Adjustment to
Acquired Deferred Revenue (FoodLink, SHP,
Strata, SoftWriters, Data Innovations)
|
2.5
|
-
|
|
|
Rounding
|
0.1
|
-
|
|
|
Q2 Adjusted Revenue (A)
|
$892.1M
|
$885.2M
|
|
|
|
|
|
|
Q2 GAAP Operating Profit
|
$252.0M
|
$246.7M
|
|
|
Add: Purchase Accounting Adjustment to
Acquired Deferred Revenue (FoodLink, SHP,
Strata, SoftWriters, Data Innovations)
|
2.5
|
-
|
|
|
Adjusted Operating Profit (B)
|
$254.5M
|
$246.7M
|
|
|
|
|
|
|
GAAP Operating Margin
|
28.3%
|
27.9%
|
+40 bps
|
|
|
|
|
|
Adjusted Operating Margin (B) / (A)
|
28.5%
|
27.9%
|
+60 bps
|
|
Table 6: Adjusted Revenue and EBITDA Margin Reconciliation
|
|
|
|
|
|
|
|
|
2015
|
2014
|
V bps
|
|
Q2 GAAP Revenue
|
$889.5M
|
$885.2M
|
|
|
Add: Purchase Accounting Adjustment to
Acquired Deferred Revenue (FoodLink, SHP,
Strata, SoftWriters, Data Innovations)
|
2.5
|
-
|
|
|
Rounding
|
0.1
|
-
|
|
|
Q2 Adjusted Revenue (A)
|
$892.1M
|
$885.2M
|
|
|
|
|
|
|
Q2 GAAP Net Earnings
|
$171.3M
|
$157.4M
|
|
|
Add: Interest Expense
|
20.2
|
19.5
|
|
|
Add: Taxes
|
59.9
|
68.9
|
|
|
Add: Depreciation
|
9.5
|
10.4
|
|
|
Add: Amortization
|
40.3
|
38.5
|
|
|
Add: Purchase Accounting Adjustment to
Acquired Deferred Revenue (FoodLink, SHP,
Strata, SoftWriters, Data Innovations), net of
35% tax
|
1.6
|
-
|
|
|
Rounding
|
-
|
(0.1)
|
|
|
EBITDA (B)
|
$302.8M
|
$294.6M
|
|
|
|
|
|
|
EBITDA Margin (B) / (A)
|
33.9%
|
33.3%
|
+60 bps
|
Conference Call to be Held at 8:30 AM (ET) Today
A conference call to discuss these results has been scheduled for 8:30 AM ET on Monday, July 27, 2015. The call can be accessed via webcast or by dialing +1 888-428-9490 (US/Canada) or +1 719-457-2083, using confirmation code 3782671. Webcast information and conference call materials will be made available in the Investors section of Roper's website (www.ropertech.com) prior to the start of the call. The webcast can also be accessed directly by using the following URL https://www.webcaster4.com/Webcast/Page/866/9472. Telephonic replays will be available for up to two weeks by calling +1 719-457-0820 and using the access code 3782671.
About Roper Technologies
Roper Technologies is a constituent of the S&P 500, Fortune 1000, and the Russell 1000 indices. Roper designs and develops software (both software-as-a-service and licensed), and engineered products and solutions for healthcare, transportation, food, energy, water, education and academic research markets worldwide. Additional information about Roper is available on the company's website at www.ropertech.com.
The information provided in this press release contains forward-looking statements within the meaning of the federal securities laws. These forward-looking statements include, among others, statements regarding operating results, the success of our internal operating plans, and the prospects for newly acquired businesses to be integrated and contribute to future growth, profit and cash flow expectations. Forward-looking statements may be indicated by words or phrases such as "anticipate," "estimate," "plans," "expects," "projects," "should," "will," "believes" or "intends" and similar words and phrases. These statements reflect management's current beliefs and are not guarantees of future performance. They involve risks and uncertainties that could cause actual results to differ materially from those contained in any forward-looking statement. Such risks and uncertainties include our ability to integrate acquisitions and realize expected synergies. We also face other general risks, including our ability to realize cost savings from our operating initiatives, general economic conditions, unfavorable changes in foreign exchange rates, difficulties associated with exports, risks associated with our international operations, difficulties in making and integrating acquisitions, risks associated with newly acquired businesses, increased product liability and insurance costs, increased warranty exposure, future competition, changes in the supply of, or price for, parts and components, environmental compliance costs and liabilities, risks and cost associated with asbestos related litigation and potential write-offs of our substantial intangible assets, and risks associated with obtaining governmental approvals and maintaining regulatory compliance for new and existing products. Important risks may be discussed in current and subsequent filings with the SEC. You should not place undue reliance on any forward-looking statements. These statements speak only as of the date they are made, and we undertake no obligation to update publicly any of them in light of new information or future events.
|
|
|
|
|
Roper Technologies, Inc. and Subsidiaries
|
|
Condensed Consolidated Balance Sheets (unaudited)
|
|
(Amounts in thousands)
|
|
|
|
|
|
|
|
|
|
June 30,
|
|
December 31,
|
|
ASSETS
|
2015
|
|
2014
|
|
|
|
|
|
CURRENT ASSETS:
|
|
|
|
|
Cash and cash equivalents
|
$ 678,571
|
|
$ 610,430
|
|
Accounts receivable
|
481,599
|
|
511,538
|
|
Inventories
|
197,026
|
|
193,766
|
|
Unbilled receivable
|
107,999
|
|
96,409
|
|
Deferred taxes
|
58,194
|
|
54,199
|
|
Other current assets
|
63,893
|
|
45,763
|
|
Total current assets
|
1,587,282
|
|
1,512,105
|
|
|
|
|
|
PROPERTY, PLANT AND EQUIPMENT, NET
|
112,374
|
|
110,876
|
|
|
|
|
|
OTHER ASSETS:
|
|
|
|
|
Goodwill
|
5,111,662
|
|
4,710,691
|
|
Other intangible assets, net
|
2,108,964
|
|
1,978,729
|
|
Deferred taxes
|
34,599
|
|
27,496
|
|
Other assets
|
79,215
|
|
73,037
|
|
Total other assets
|
7,334,440
|
|
6,789,953
|
|
|
|
|
|
TOTAL ASSETS
|
$ 9,034,096
|
|
$ 8,412,934
|
|
|
|
|
|
|
|
|
|
LIABILITIES AND STOCKHOLDERS' EQUITY
|
|
|
|
|
|
|
|
|
CURRENT LIABILITIES:
|
|
|
|
|
Accounts payable
|
$ 145,584
|
|
$ 143,847
|
|
Accrued compensation
|
97,312
|
|
117,374
|
|
Deferred revenue
|
234,067
|
|
190,953
|
|
Other accrued liabilities
|
166,929
|
|
160,738
|
|
Deferred taxes
|
3,841
|
|
3,943
|
|
Current portion of long-term debt
|
7,208
|
|
11,092
|
|
Total current liabilities
|
654,941
|
|
627,947
|
|
|
|
|
|
NONCURRENT LIABILITIES:
|
|
|
|
|
Long-term debt
|
2,517,499
|
|
2,203,031
|
|
Deferred taxes
|
754,297
|
|
735,826
|
|
Other liabilities
|
88,010
|
|
90,770
|
|
Total liabilities
|
4,014,747
|
|
3,657,574
|
|
|
|
|
|
STOCKHOLDERS' EQUITY:
|
|
|
|
|
Common stock
|
1,026
|
|
1,021
|
|
Additional paid-in capital
|
1,368,335
|
|
1,325,338
|
|
Retained earnings
|
3,796,957
|
|
3,520,201
|
|
Accumulated other comprehensive earnings
|
(127,788)
|
|
(71,927)
|
|
Treasury stock
|
(19,181)
|
|
(19,273)
|
|
Total stockholders' equity
|
5,019,349
|
|
4,755,360
|
|
|
|
|
|
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY
|
$ 9,034,096
|
|
$ 8,412,934
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Roper Technologies, Inc. and Subsidiaries
|
|
Condensed Consolidated Statements of Earnings (unaudited)
|
|
(Amounts in thousands, except per share data)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three months ended
|
|
Six months ended
|
|
|
June 30,
|
|
June 30,
|
|
|
2015
|
|
2014
|
|
2015
|
|
2014
|
|
|
|
|
|
|
|
|
|
|
Net sales
|
|
$889,541
|
|
$885,175
|
|
$1,754,822
|
|
$1,719,227
|
|
Cost of sales
|
|
355,630
|
|
361,993
|
|
702,750
|
|
707,109
|
|
|
|
|
|
|
|
|
|
|
Gross profit
|
|
533,911
|
|
523,182
|
|
1,052,072
|
|
1,012,118
|
|
|
|
|
|
|
|
|
|
|
Selling, general and administrative expenses
|
|
281,937
|
|
276,516
|
|
553,202
|
|
542,052
|
|
|
|
|
|
|
|
|
|
|
Income from operations
|
|
251,974
|
|
246,666
|
|
498,870
|
|
470,066
|
|
|
|
|
|
|
|
|
|
|
Interest expense
|
|
20,177
|
|
19,512
|
|
40,013
|
|
39,339
|
|
Other income/(expense)
|
|
(1,520)
|
|
(930)
|
|
(2,199)
|
|
490
|
|
|
|
|
|
|
|
|
|
|
Earnings from continuing operations before
|
|
|
|
|
|
|
|
|
|
income taxes
|
|
230,277
|
|
226,224
|
|
456,658
|
|
431,217
|
|
|
|
|
|
|
|
|
|
|
Income taxes
|
|
58,997
|
|
68,863
|
|
129,605
|
|
126,630
|
|
|
|
|
|
|
|
|
|
|
Net Earnings
|
|
$171,280
|
|
$157,361
|
|
$ 327,053
|
|
$ 304,587
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Earnings per share:
|
|
|
|
|
|
|
|
|
|
Basic
|
|
$ 1.70
|
|
$ 1.58
|
|
$ 3.26
|
|
$ 3.05
|
|
Diluted
|
|
$ 1.69
|
|
$ 1.56
|
|
$ 3.22
|
|
$ 3.02
|
|
|
|
|
|
|
|
|
|
|
Weighted average common and common
|
|
|
|
|
|
|
|
|
|
equivalent shares outstanding:
|
|
|
|
|
|
|
|
|
|
Basic
|
|
100,573
|
|
99,881
|
|
100,475
|
|
99,720
|
|
Diluted
|
|
101,569
|
|
100,823
|
|
101,468
|
|
100,696
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Roper Technologies, Inc. and Subsidiaries
|
|
Selected Segment Financial Data (unaudited)
|
|
(Amounts in thousands and percents of net sales)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three months ended June 30,
|
|
Six months ended June 30,
|
|
|
2015
|
|
2014
|
|
2015
|
|
2014
|
|
|
Amount
|
|
%
|
|
Amount
|
|
%
|
|
Amount
|
|
%
|
|
Amount
|
|
%
|
|
Net sales:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Medical & Scientific Imaging
|
$
|
302,262
|
|
|
$
|
268,891
|
|
|
$
|
593,962
|
|
|
$
|
525,090
|
|
|
|
RF Technology
|
|
255,558
|
|
|
|
245,602
|
|
|
|
498,512
|
|
|
|
471,283
|
|
|
|
Industrial Technology
|
|
186,467
|
|
|
|
204,814
|
|
|
|
377,195
|
|
|
|
401,815
|
|
|
|
Energy Systems & Controls
|
|
145,254
|
|
|
|
165,868
|
|
|
|
285,153
|
|
|
|
321,039
|
|
|
|
Total
|
$
|
889,541
|
|
|
$
|
885,175
|
|
|
$
|
1,754,822
|
|
|
$
|
1,719,227
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross profit:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Medical & Scientific Imaging
|
$
|
222,990
|
|
73.8%
|
$
|
194,756
|
|
72.4%
|
$
|
438,316
|
|
73.8%
|
$
|
379,606
|
|
72.3%
|
|
RF Technology
|
|
134,136
|
|
52.5%
|
|
128,587
|
|
52.4%
|
|
264,182
|
|
53.0%
|
|
248,238
|
|
52.7%
|
|
Industrial Technology
|
|
93,565
|
|
50.2%
|
|
103,982
|
|
50.8%
|
|
188,807
|
|
50.1%
|
|
202,452
|
|
50.4%
|
|
Energy Systems & Controls
|
|
83,220
|
|
57.3%
|
|
95,857
|
|
57.8%
|
|
160,767
|
|
56.4%
|
|
181,822
|
|
56.6%
|
|
Total
|
$
|
533,911
|
|
60.0%
|
$
|
523,182
|
|
59.1%
|
$
|
1,052,072
|
|
60.0%
|
$
|
1,012,118
|
|
58.9%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating profit*:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Medical & Scientific Imaging
|
$
|
109,261
|
|
36.1%
|
$
|
94,381
|
|
35.1%
|
$
|
217,040
|
|
36.5%
|
$
|
184,152
|
|
35.1%
|
|
RF Technology
|
|
79,940
|
|
31.3%
|
|
71,272
|
|
29.0%
|
|
153,917
|
|
30.9%
|
|
133,832
|
|
28.4%
|
|
Industrial Technology
|
|
52,188
|
|
28.0%
|
|
60,438
|
|
29.5%
|
|
110,085
|
|
29.2%
|
|
116,494
|
|
29.0%
|
|
Energy Systems & Controls
|
|
37,702
|
|
26.0%
|
|
44,786
|
|
27.0%
|
|
68,124
|
|
23.9%
|
|
81,811
|
|
25.5%
|
|
Total
|
$
|
279,091
|
|
31.4%
|
$
|
270,877
|
|
30.6%
|
$
|
549,166
|
|
31.3%
|
$
|
516,289
|
|
30.0%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Orders:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Medical & Scientific Imaging
|
$
|
306,637
|
|
|
$
|
271,800
|
|
|
$
|
582,433
|
|
|
$
|
528,140
|
|
|
|
RF Technology
|
|
252,322
|
|
|
|
235,828
|
|
|
|
505,449
|
|
|
|
470,173
|
|
|
|
Industrial Technology
|
|
181,845
|
|
|
|
200,248
|
|
|
|
370,585
|
|
|
|
405,129
|
|
|
|
Energy Systems & Controls
|
|
140,255
|
|
|
|
166,041
|
|
|
|
271,325
|
|
|
|
316,934
|
|
|
|
Total
|
$
|
881,059
|
|
|
$
|
873,917
|
|
|
$
|
1,729,792
|
|
|
$
|
1,720,376
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
* Operating profit is before unallocated corporate general and administrative expenses. These expenses
|
|
were $27,117 and $24,211 for the three months ended June 30, 2015 and 2014, respectively, and
|
|
$50,296 and $46,223 for the six months ended June 30, 2015 and 2014, respectively.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Roper Technologies, Inc. and Subsidiaries
|
|
Condensed Consolidated Statements of Cash Flows (unaudited)
|
|
(Amounts in thousands)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Six months ended
|
|
|
June 30,
|
|
|
2015
|
|
|
2014
|
|
|
|
|
|
|
|
Net earnings
|
$
|
327,053
|
|
$
|
304,587
|
|
Non-cash items:
|
|
|
|
|
|
|
Depreciation
|
|
19,417
|
|
|
20,089
|
|
Amortization
|
|
78,758
|
|
|
77,495
|
|
Stock-based compensation expense
|
|
29,438
|
|
|
30,013
|
|
Income taxes
|
|
(36,257)
|
|
|
(42,664)
|
|
Changes in assets and liabilities:
|
|
|
|
|
|
|
Receivables
|
|
29,688
|
|
|
(19,675)
|
|
Inventory
|
|
(7,972)
|
|
|
(6,515)
|
|
Accounts payable
|
|
1,820
|
|
|
(2,871)
|
|
Accrued liabilities
|
|
(5,443)
|
|
|
(4,045)
|
|
Other, net
|
|
(3,554)
|
|
|
(3,284)
|
|
Cash provided by operating activities
|
|
432,948
|
|
|
353,130
|
|
|
|
|
|
|
|
Business acquisitions, net of cash acquired
|
|
(589,727)
|
|
|
(2,726)
|
|
Capital expenditures
|
|
(20,673)
|
|
|
(20,560)
|
|
Other, net
|
|
(3,928)
|
|
|
526
|
|
Cash used by investing activities
|
|
(614,328)
|
|
|
(22,760)
|
|
|
|
|
|
|
|
Principal debt payments,
|
|
(3,884)
|
|
|
(561)
|
|
Revolver borrowings/(payments), net
|
|
315,000
|
|
|
(220,000)
|
|
Dividends
|
|
(50,099)
|
|
|
(39,821)
|
|
Excess tax benefit from share-based payment
|
|
8,781
|
|
|
12,058
|
|
Proceeds from stock-based compensation, net
|
|
15,315
|
|
|
21,686
|
|
Premium on convertible debt conversions
|
|
(12,721)
|
|
|
(1,518)
|
|
Other, net
|
|
849
|
|
|
1,811
|
|
Cash provided by/(used in) financing activities
|
|
273,241
|
|
|
(226,345)
|
|
|
|
|
|
|
|
Effect of exchange rate changes on cash
|
|
(23,720)
|
|
|
1,537
|
|
|
|
|
|
|
|
Net increase in cash and equivalents
|
|
68,141
|
|
|
105,562
|
|
Cash and equivalents, beginning of period
|
|
610,430
|
|
|
459,720
|
|
|
|
|
|
|
|
Cash and equivalents, end of period
|
$
|
678,571
|
|
$
|
565,282
|
|
|
|
|
|
|
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/roper-technologies-announces-record-second-quarter-results-300118833.html
SOURCE Roper Technologies, Inc.
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