UPDATE 1-Roper Industries Q2 profit rises; to buy iTradeNetwork

* To buy iTradeNetwork from Accel-KKR for $525 mln

* Q2 EPS $0.74 vs $0.64 a year-ago

* Revenue up 12 pct

* Raises FY10 EPS outlook to $3.05-$3.15

July 26 (BestGrowthStock) – Diversified manufacturer Roper
Industries Inc (ROP.N: ) reported higher quarterly results and
said it agreed to buy iTradeNetwork from private equity firm
Accel-KKR for $525 million to boost its software-as-a-service
(SaaS) business.

Roper also raised its full-year earnings outlook to $3.05
per share to $3.15 per share from its prior view of $2.95 per
share to $3.10 per share.

The company forecast third-quarter earnings of 75 cents to
80 cents a share. [ID:nASA00K06]

Roper said the outlook included iTradeNetwork, a provider
of SaaS-based trading network to the food industry, but
excluded future acquisitions and the first-quarter impact of
acquisition-related inventory charges.

The iTradeNetwork acquisition gives Roper additional scale
to pursue acquisitions in the software solutions space, where
it continues to see many attractive opportunities, Roper
Industries Chief Executive Brian Jellison said in a statement.

For the second quarter, the company reported net income of
$71.3 million, or 74 cents a share, compared with $59.6
million, or 64 cents a share, a year ago.

Net sales rose 12 percent to $567.1 million. Scientific and
Industrial Imaging segment sales rose 69 percent to $128.5

Analysts on average were expecting earnings of 74 cents a
share, before items, on revenue of $559.0 million, according to
Thomson Reuters I/B/E/S.

Shares of the company closed at $62.01 Friday on the New
York Stock Exchange.

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(Reporting by Megha Mandavia in Bangalore; Editing by Anne

UPDATE 1-Roper Industries Q2 profit rises; to buy iTradeNetwork