- Orders increased 4 percent compared to the prior year (+1 percent organic, +6 percent acquisition and -3 percent foreign currency translation).
- Sales increased 9 percent compared to the prior year (+6 percent organic, +6 percent acquisition and -3 percent foreign currency translation).
- Reported net income of $54 million was $4 million, or 8 percent, higher than the prior year. Excluding restructuring related charges, adjusted net income was $56 million or 7 percent higher than prior year adjusted net income.
- Reported diluted EPS of 65 cents was 5 cents, or 8 percent, higher than the prior year EPS. Adjusted EPS of 67 cents was 5 cents, or 8 percent, higher than the prior year adjusted EPS.
- EBITDA of $108 million was 22 percent of sales and covered interest expense by more than 10 times.
- Free cash flow was $71 million, representing a second quarter record and 130 percent of net income. Year-to-date free cash flow continues to be strong – up 86 percent from the prior year.
- The Company completed the repurchase of 626 thousand shares of common stock for $25.9 million. Year-to-date, the Company has returned $118 million of capital through share repurchases, cash dividends and the repayment of debt.
IDEX Reports Record Second Quarter Orders, Sales And Free Cash Flow; Adjusted Earnings Per Share Of 67 Cents
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