- Orders decreased 3 percent compared to the prior year (-4 percent organic, +3 percent acquisition and -2 percent foreign currency translation).
- Sales increased 1 percent compared to the prior year (+1 percent organic, +2 percent acquisition and -2 percent foreign currency translation).
- Reported net income of $50 million was $2 million, or 4 percent, higher than the prior year. Excluding restructuring related charges, adjusted net income was $55 million or 7 percent lower than prior year adjusted net income.
- Reported EPS of 60 cents was 2 cents, or 3 percent, higher than the prior year EPS. Adjusted EPS of 66 cents was 5 cents, or 7 percent, lower than the prior year adjusted EPS.
- EBITDA of $100 million was 21 percent of sales and covered interest expense by nearly 10 times.
- Free cash flow was $92 million, representing a record and over 180 percent of net income. Year-to-date free cash flow continues to be strong – up 41 percent from the prior year.
- During the quarter, the Company completed another strategic acquisition, Matcon, a global leader in material processing solutions in the Pharmaceuticals, Food, Plastics and Fine Chemicals industries.
- The Company completed the repurchase of 1 million shares of common stock for $39 million in the third quarter. Over two percent of the outstanding shares of common stock, or 1.9 million shares, have been purchased by the Company in 2012.
IDEX Reports Third Quarter Adjusted EPS Of 66 Cents, Record Free Cash Flow And An Additional $200 Million Share Repurchase Authorization
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