Roper Industries, Inc. Q1 2009 Earnings Call Transcript

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2009-04-26 00:13:14.0

Tags: Call Transcript, Earnings, Seasonality, Roper Industries Inc., Corporate Governance, Business Operations, Corporate Law, Seeking Alpha

Question-and-Answer Session

Operator

Thank you. We will now go to our question-and-answer session portion of the call. (Operator instructions). We will take our first question from Christopher Glynn at Oppenheimer.

Christopher Glynn – Oppenheimer

Thanks, good morning.

Brian Jellison

Good morning Chris.

Christopher Glynn – Oppenheimer

So in the press release you mentioned that the orders and quote activity picked up in March nearly, I was just wondering if that is largely on normal seasonality or little muted seasonality relative to a normal year?

Brian Jellison

Well, one of the things that has been odd in the last three quarters is that every quarter has started of sort of okay not spectacularly in the first month. In the second month, it has been exceptionally weak, and then in the third month, it has been pretty good, and on balanced should come out okay. We're seeing a little more sustained rhythm here since the end of February so we feel a little bit, a little bit better. March was up high single digits from the January February average across the board.

Christopher Glynn – Oppenheimer

Okay. And just related to normal seasonality, could you relate it to that at all?

Brian Jellison

No. Especially not on orders. I mean orders are not a wonderful indicator in terms of activity here because we only book orders that are going to be shipped within 12 months and frequently the lead times on things that confuse the issues. So I don't know, John, if you want to add anything to that.

John Humphrey

Yes, that's true. Actually our order rate really doesn't vary dramatically in most normal circumstances. The big surprise was a little bit with February being as weak as it was and that is why as we looked at much, we didn't just say, okay, it was up dramatically from February, so we feel great. We also kind of looked at the January February run rate and also against the last five months run rates. So we've looked at this a number of different ways and deconstructed it, and as a result do feel good that the second quarter is going to see some sequential improvement.

Christopher Glynn – Oppenheimer

Sounds good. Thanks.

John Humphrey

All right.

Operator

We will take our next question from Mike Schneider at Robert W. Baird.

Mike Schneider – Robert W. Baird & Co.

Good morning guys.

Brian Jellison

 

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