WASHINGTON (dpa-AFX) - IDEX Corp. (IEX) announced the company expects full year 2017 EPS of $3.87 to $3.95, which includes a 12 cent foreign currency headwind, with first quarter EPS in the range of $0.91 to $0.93. IDEX projects 1 to 2 percent organic growth in 2017.
'A solid finish to 2016 and a positive start to 2017 provide an improved outlook. However, we remain cautious due to the global economic uncertainty,' Andrew Silvernail, CEO, stated.
IDEX reported fourth-quarter net income of $57 million which resulted in EPS of $0.75. Adjusted for the net loss on divestitures, the pension settlement and restructuring charges, adjusted EPS of $0.96, increased 2 cents, or 2 percent, from prior year adjusted EPS. On average, 14 analysts polled by Thomson Reuters expected the company to report profit per share of $0.93 for the quarter. Analysts' estimates typically exclude special items.
Fourth-quarter orders were $547 million, up 10 percent (up 3 percent organic, up 9 percent acquisitions/divestitures and down 2 percent foreign currency translation) compared with the prior year period. Sales of $530 million were up 6 percent (flat organic, up 8 percent acquisitions/divestitures and down 2 percent foreign currency translation) compared with the prior year period. Analysts expected revenue of $547.07 million for the quarter.
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