Idex: 4Q Earnings Snapshot
LAKE FOREST, Ill. (AP) _ IDEX Corp. (IEX) on Tuesday reported fourth-quarter net income of $98.1 million.
On a per-share basis, the Lake Forest, Illinois-based company said it had profit of $1.27. Earnings, adjusted for restructuring costs, were $1.31 per share.
The results surpassed Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of $1.27 per share.
The maker of the Jaws of Life device and other engineered products posted revenue of $614.1 million in the period, missing Street forecasts. Eight analysts surveyed by Zacks expected $618.1 million.
For the year, the company reported profit of $410.6 million, or $5.29 per share. Revenue was reported as $2.48 billion.
Idex expects full-year earnings to be $5.60 to $5.80 per share.
Idex shares have climbed 10 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $139.10, a drop of 1 percent in the last 12 months.