Dover Reports Q4 Revenue Drop of Nearly 13%
NEW YORK – Dover Corp. today reported fourth-quarter 2009 revenue of $1.5 billion, down 12.7% compared to 2008.
Net earnings for the quarter were $99 million, down 18% year-over-year.
Earnings from continuing operations were $102.4 million, down nearly 40% year-over-year.
Full-year 2009 revenue was $5.8 billion, down 23.7% over the prior year period.
Net earnings for the twelve months ended December 31 were $356.4 million, down 40% compared to 2008.
Earnings from continuing operations for full-year 2009 were $371.9 million, down 46% year-over-year.
The firm experienced modest recovery in electronic technologies, energy and product identification in the fourth quarter, said president and CEO Robert A. Livingston.
Dover expects full-year 2010 revenue growth of 7% to 9%.
