Roper acquires Lumenera, reports record quarter

Aug. 1, 2006
AUGUST 1--Roper Industries (Duluth, GA, USA; has acquired Lumenera Corporation (Ottawa, Canada).

AUGUST 1--Roper Industries (Duluth, GA, USA; has acquired Lumenera Corporation (Ottawa, Canada). The transaction closed effective July 25, 2006. Financial terms were not disclosed. However, Roper Industries said it intends to close another acquisition in the near future. The aggregate purchase price for Lumenera and the forthcoming acquisition will be approximately US $30.5 million.

Lumenera is a developer and manufacturer of high-performance digital cameras and custom imaging solutions used in a range of industrial, scientific, and security applications. Its core competencies include digital bus technologies such as USB 2.0 and Ethernet, as well as a complete command of digital imaging hardware and software built around CMOS and CCD based imagers.

Roper provides engineered products and solutions for global niche markets, including water, energy, radio frequency, and research/medical applications. Lumenera was Roper Industries' second Canadian acquisition of a digital image camera developer and manufacturer. In August 2002, Roper Industries acquired Quantitative Imaging Corp. of Burnaby, BC, Canada--a venture-backed developer of CCD FireWire digital cameras for demanding applications in quantitative image analysis and high-resolution images for publication.

In related news, Roper reported record results for its second quarter, ended June 30, 2006. Diluted earnings per share were $0.53, an increase of 29% over the comparable period in the prior year. Current year results include the effects from implementation of SFAS 123R and related equity compensation costs, as well as dilution from the company's senior subordinated convertible notes. Net sales were up 18% to $425 million, which included 12% internal growth. Operating income increased 37% to $85 million and net earnings grew 35% to $48 million. Net orders increased 19% over prior year levels to $433 million, which included 13% internal growth.

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