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Dover Misses Fourth Quarter Estimates

Dover

(DOV) - Get Dover Corporation Report

missed analysts' fourth-quarter earnings expectations, posting net income of $23.5 million, or 12 cents a share, down from $134.7 million, or 66 cents a share, in the year ago quarter. Wall Street had been expecting 16 cents a share, according to Thomson Financial/First Call.

Sales for the quarter dropped to $1.05 billion from $1.32 billion a year ago.

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The industrial product and equipment maker attributed the lower-than-expected results to weakness in the electronics business.

Shares of Dover closed at $34.97 Friday on the New York Stock Exchange.