IDEX Organic Sales Up 2% in 2Q - Modern Distribution Management

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IDEX Organic Sales Up 2% in 2Q

Profit increased to $63 million.

IDEX Corp. (NYSE: IEX), Lake Forest, IL, reported sales for the second quarter of $518 million, an increase of 5 percent compared to the prior-year period. Organic sales increased 2 percent. Profit increased 11 percent to $63 million.

Fluid & metering technologies in the second quarter contributed 43 percent of sales and 49 percent of operating income; health & science technologies accounted for 35 percent of sales and 30 percent of operating income; and fire & safety/diversified products represented 22 percent of sales and 21 percent of operating income.

Fluid & metering technologies sales of $225 million reflected a 7 percent increase compared to the second quarter of 2012 (all organic). Health & science technologies sales of $181 million reflected a 6 percent increase compared to the second quarter of 2012 (down 2 percent organic, up 9 percent from acquisitions and down 1 percent from foreign currency translation). Fire & safety/diversified products sales of $114 million reflected a 1 percent decrease from the second quarter of 2012 (all organic).

For the first six months, sales for IDEX were $518.4 million, a 4.9 percent increase compared to the same period a year ago. Profit increased 15.1 percent to $62.2 million.

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