UPADTE 1-Idex Q1 beats Street; raises FY view

* Q1 EPS $0.46 vs est. $0.42

* Revenue up 9 pct

* Sees 2010 organic rev growth in mid-single digits

April 19 (BestGrowthStock) – Idex Corp (IEX.N: ), which makes flow
meters and dispensing equipment, posted better-than-expected
quarterly results and raised its full-year outlook on strong
growth in most of its end markets.

“The order trends within the fluid and metering, and heath
and science technologies segments were particularly strong,
while our remaining markets performed as expected,” Chief
Executive Lawrence Kingsley said in a statement.

Idex sees full-year organic revenue growth in the
mid-single digit range and earnings of $1.75 a share to $1.80 a
share. [ID:nASA008GT]

It had earlier forecast $1.63 to $1.73 a share and organic
revenue growth of 2 percent to 4 percent.

“Full-year EPS above the top end of our range is dependent
on a strong U.S. end market recovery,” said Kingsley.

Idex posted first-quarter net income of $36.6 million, or
45 cents a share, compared with $22.6 million, or 28 cents a
share, a year ago. Excluding items, earnings were 46 cents a
share.

Net sales rose 9 percent to $355.6 million.

Analysts were expecting earnings of 42 cents a share on
revenue of $341.5 million, according to Thomson Reuters
I/B/E/S.

New orders in the quarter were $370 million, up 10 percent
compared to the prior-year period, it said.

Shares of the company were trading down 18 cents at $33.96
Monday morning on the New York Stock Exchange.

Stock Market Basics
(Reporting by A.Ananthalakshmi in Bangalore; Editing by Maju
Samuel) (([email protected]; within U.S. +1
646 223 8780; outside U.S. +91 80 4135 5800; Reuters Messaging:
[email protected]))

UPADTE 1-Idex Q1 beats Street; raises FY view