Dover 4Q revenue up 15 percent

DOWNERS GROVE — Dover Corp. reported fourth quarter revenues of $2 billion, an increase of 15 percent over the same period last year, driven primarily by growth in its business and acquisitions.

The company’s earnings for the quarter were $208.9 million, up 13 percent from $184.9 million from the same period last year.

For the 2011 year, Dover’s revenue was $8.0 billion, up 20 percent over 2010.

“Capped off by a solid fourth quarter, Dover delivered a record setting 2011 in terms of revenue, earnings, EPS and bookings,“ said President and Chief Executive Officer Robert A. Livingston. “Organic revenue growth in the fourth quarter of 6 percent was driven by broad-based strength in energy, handsets, fluids, and industrial end-markets. Our segment margin was 16.5 percent, where solid performances in our energy, communication technologies and engineered systems segments partially offset weakness in Printing & Identification and acquisition-related costs. The majority of our businesses continued to book well as we ended the year with a seasonally normal book-to-bill of 1.00.”

Livingston said the company realigned its structure to more closely match targeted growth markets, spent $1.4 billion in 2011 on acquisitions, and divested three businesses.

“We generated nearly $800 million in free cash flow, which enabled us to aggressively invest in higher growth economies and innovation, and to continue our long tradition of raising our annual dividend, now standing at 56 consecutive years,” he added.

Dover Corp. is a diversified global manufacturer focusing on equipment and components, specialty systems and support services through its communication technologies, energy, engineered systems and printing & identification segments.