OREANDA-NEWS. Roper Technologies, Inc. (NYSE: ROP), a diversified technology company, reported financial results for the fourth quarter and full year ended December 31, 2015.

Roper reports results – including revenue, operating margin, net income and diluted earnings per share – on a GAAP and adjusted basis.  Adjusted measures are reconciled to the corresponding GAAP measures at the end of this release. 

Fourth Quarter 2015

Fourth quarter GAAP diluted earnings per share (DEPS) were $2.05 and adjusted diluted earnings per share were $1.82.  GAAP revenue was $944 million and adjusted revenue was $948 million. GAAP gross margin was 61.4% and adjusted gross margin increased 190 basis points to 61.8%.

GAAP operating margin was 29.5% and adjusted operating margin was 30.1%.  EBITDA margin was 35.9% for the quarter, a 60 basis point increase over last year.  Operating cash flow in the quarter was $269 million. 

Full Year 2015

Full year GAAP diluted earnings per share increased 7% to $6.85 and adjusted diluted earnings per share were $6.68, a 4% increase over the prior year.  GAAP revenue was $3.58 billion and adjusted revenue was $3.59 billion, a 1% increase.  GAAP operating margin increased 50 basis points to 28.7% and adjusted operating margin was 29.0%, an 80 basis point increase over the prior year.  Full year EBITDA was $1.24 billion, or 34.6% of adjusted revenue.

Operating cash flow increased 11% to $929 million.  Free cash flow was $893 million, representing 25% of revenue.

"2015 was a record year for Roper," said Brian Jellison, Roper's Chairman, President and CEO.  "Growth in our medical, software and RF businesses offset a significant decline in energy markets and negative foreign exchange.  Our businesses executed well, driving an 11% increase in free cash flow. We successfully deployed $1.8 billion in strategic acquisitions during the year and are excited about our robust pipeline for 2016.  We expect to deploy over $1 billion in 2016, including the January acquisition of CliniSys Group, Ltd. which expands our global presence in software for hospital laboratories."

2016 Outlook and Guidance

Roper expects operating cash flow of approximately $1.0 billion.  "Our medical and software businesses will continue to lead our growth in 2016 and we expect an overall revenue increase of 8 – 10%, including 2 - 4 % organic growth, with strong operating leverage," Mr. Jellison added.

Roper expects 2016 full year adjusted diluted earnings per share (DEPS) between $6.85 and $7.15 with first quarter DEPS between $1.42 and $1.47.  

The company's guidance excludes future acquisitions or divestitures.

Conference Call to be Held at 8:30 AM (ET) Today

A conference call to discuss these results has been scheduled for 8:30 AM ET on Monday, February 1, 2016.  The call can be accessed via webcast or by dialing +1 888-452-4023 (US/Canada) or +1 719-325-2420, using confirmation code 429015.  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://www.webcaster4.com/Webcast/Page/866/12793.  Telephonic replays will be available for up to two weeks by calling +1 719-457-0820 and using the access code 429015.