SARASOTA, Fla., Jan. 30, 2020 (GLOBE NEWSWIRE) — Roper Technologies, Inc. (NYSE: ROP), a leading diversified technology company, reported financial results for the fourth quarter and full year ended December 31, 2019.
Fourth Quarter 2019Fourth quarter GAAP diluted earnings per share (“DEPS”) was $8.28, a 237% increase, while adjusted DEPS was $3.39, a 5% increase. GAAP results include a pretax gain of $801 million associated with the divestiture of Gatan.GAAP revenue increased to $1.39 billion and adjusted revenue increased 2% to $1.40 billion. Organic revenue increased 1%. GAAP and adjusted gross margin both expanded 60 basis points to 64.0% and 64.1%, respectively.EBITDA increased 4% to $518 million and EBITDA margin expanded 100 basis points to 37.0%. Operating cash flow was a record $466 million while free cash flow was $453 million, representing 32% of adjusted revenue.Full Year 2019Full year GAAP DEPS was $16.82, an 86% increase, while adjusted DEPS was $13.05, a 10% increase.EBITDA increased 7% to $1.93 billion and EBITDA margin expanded 110 basis points to 35.8%. GAAP operating cash flow was $1.46 billion and adjusted operating cash flow increased 5% to $1.50 billion. Adjusted free cash flow also increased 5% to $1.44 billion, representing 27% of adjusted revenue.“It was another excellent year for Roper,” said Neil Hunn, Roper’s President and CEO. “Operationally, our teams executed at a very high level while continuing to innovate and invest for long term, sustained growth. In addition, we meaningfully enhanced our portfolio through $2.4 billion of acquisitions, led by iPipeline and Foundry, and the divestitures of our Gatan and Scientific Imaging businesses. As a result, we exit 2019 in a stronger position to continue compounding cash flow and shareholder returns.”2020 Outlook and Guidance“Roper is well positioned for a strong 2020, driven by continued organic growth across our portfolio of software and product businesses, TransCore’s significant New York City project, and contributions from our recent acquisitions,” said Mr. Hunn. “Aided by the proceeds from the Gatan divestiture, we enter the new year with significant financial capacity to execute against our large and active pipeline of high-quality acquisition opportunities.”Roper expects full year adjusted DEPS of $13.30 – $13.60 with first quarter adjusted DEPS of $2.94 – $3.00. The Company expects full year organic revenue growth of +6 – 7%.The Company’s guidance excludes the impact of unannounced future acquisitions or divestitures.Conference Call to be Held at 8:30 AM (ET) TodayA conference call to discuss these results has been scheduled for 8:30 AM ET on Thursday, January 30, 2020.  The call can be accessed via webcast or by dialing +1 888-254-3590 (US/Canada) or +1 929-477-0402, using confirmation code 5500399.  Webcast information and conference call materials will be made available in the Investors section of Roper’s website (www.ropertech.com) prior to the start of the call. The webcast can also be accessed directly by using the following URL https://event.webcast.  Telephonic replays will be available for up to two weeks and can be accessed by using the following registration URL https://event.replay with access code 5500399.Use of Non-GAAP Financial InformationThe Company supplements its consolidated financial statements presented on a GAAP basis with certain non-GAAP financial information to provide investors with greater insight, increase transparency and allow for a more comprehensive understanding of the information used by management in its financial and operational decision-making. Reconciliation of non-GAAP measures to their most directly comparable GAAP measures are included in the accompanying financial schedules or tables. The non-GAAP financial measures disclosed by the Company should not be considered a substitute for, or superior to, financial measures prepared in accordance with GAAP, and the financial results prepared in accordance with GAAP and reconciliations from these results should be carefully evaluated.




About Roper TechnologiesRoper Technologies is a constituent of the S&P 500, Fortune 1000, and the Russell 1000 indices. Roper operates businesses that design and develop software (both license and software-as-a-service) and engineered products and solutions for a variety of niche end markets. Additional information about Roper is available on the Company’s website at www.ropertech.com.The information provided in this press release contains forward-looking statements within the meaning of the federal securities laws. These forward-looking statements may include, among others, statements regarding operating results, the success of our internal operating plans, and the prospects for newly acquired businesses to be integrated and contribute to future growth, profit and cash flow expectations.  Forward-looking statements may be indicated by words or phrases such as “anticipate,” “estimate,” “plans,” “expects,” “projects,” “should,” “will,” “believes,” “intends” and similar words and phrases. These statements reflect management’s current beliefs and are not guarantees of future performance. They involve risks and uncertainties that could cause actual results to differ materially from those contained in any forward-looking statement. Such risks and uncertainties include our ability to identify and complete acquisitions consistent with our business strategies, integrate acquisitions that have been completed, realize expected benefits and synergies from, and manage other risks associated with, the newly acquired businesses. We also face other general risks, including our ability to realize cost savings from our operating initiatives, general economic conditions and the conditions of the specific markets in which we operate, changes in foreign exchange rates, difficulties associated with exports, risks associated with our international operations, cybersecurity and data privacy risks, increased product liability and insurance costs, increased warranty exposure, future competition, changes in the supply of, or price for, parts and components, environmental compliance costs and liabilities, risks and cost associated with asbestos related litigation, potential write-offs of our substantial intangible assets, and risks associated with obtaining governmental approvals and maintaining regulatory compliance for new and existing products. Important risks may be discussed in current and subsequent filings with the SEC. You should not place undue reliance on any forward-looking statements. These statements speak only as of the date they are made, and we undertake no obligation to update publicly any of them in light of new information or future events.


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