Slide 1: IDEX Corporation Third Quarter 2008 Earnings Release
IDEX Corporation Third Quarter 2008 Earnings Release October 21, 2008
Slide 2: Agenda
Agenda Q3 2008 Summary Segment Performance Fluid & Metering Health & Science Dispensing Equipment Fire & Safety Acquisitions Restructuring FY and Q4 2008 Outlook Q&A
Slide 3: Replay Information
Replay Information Dial toll-free: 888.203.1112 International: 719.457.0820 Conference ID: #1429642 Log on to: www.idexcorp.com
Slide 4: Cautionary Statement Under the Private Securities Litigation Reform Act
Cautionary Statement Under the Private Securities Litigation Reform Act This presentation and discussion will include forward-looking statements. Our actual performance may differ materially from that indicated or suggested by any such statements. There are a number of factors that could cause those
Slide 5: Q3 2008 Financial Performance
Q3 2008 Financial Performance Q3 2008 Q3 2007 V% Orders $353 $328 8% Sales $365 $335 9% Operating Income $61 $63 (4)% Operating Margin Op Margin pre-restructuring 16.7% 18.1% 18.9% (220)bp (80) bp EPS $.49 $.47 4% EPS pre-restructuring $.53 $.47 13% FCF $68 $54 26% Double Digit Earnings Growth and R
Slide 6: Fluid & Metering
Fluid & Metering Performance Highlights: Outlook: Stable end-markets International expansion, acquisitions Stable End Markets and Well Positioned To Grow (Continuing Operations) Q3 '08 Q3 '07 Change Orders $172.4 $142.1 21% Sales Organic Acquisition Currency $170.3 $143.8 18% 4% 13% 1% Operating Inc
Slide 7: Health & Science
Health & Science Performance Highlights: Outlook: Resilient core end markets Acquisitions Resilient core analytical instrumentation, IVD and biotechnology markets Q3 '08 Q3 '07 Change Orders $76.4 $78.1 (2)% Sales Organic Acquisition Currency $82.9 $83.3 - (4)% 3% 1% Operating Income $17.2 $16.7 3%
Slide 8: Dispensing Equipment
Dispensing Equipment Performance Highlights: Outlook: Continued deterioration in capital spending in North America and European end markets Slowdown in North America and Europe Q3 '08 Q3 '07 Change Orders $29.6 $40.6 (27)% Sales - -Organic Currency $31.5 $38.1 (17)% (21)% 4% Operating Income $2.2 $5
Slide 9: Fire & Safety / Diversified Products
Fire & Safety / Diversified Products Performance Highlights: Outlook: Fire suppression has stabilized with flat sequential volume Continued opportunity in international markets for rescue tool products and innovation driving higher than market growth in engineered band clamping products Strength in
Slide 10: Acquisition: Richter
Acquisition: Richter Located in Kempen, Germany Annual revenues of approximately $53 million Expected to be accretive to 2009 earnings Technology leader and supplier of corrosion resistant pumps, valves and control equipment serving the process markets Growth drivers: More stringent safety and envir
Slide 11: Acquisition: iPEK
Acquisition: iPEK Located in Hirschegg, Austria Annual revenues of approximately $26 million Expected to be accretive to 2009 earnings Remote controlled systems focused on infrastructure analysis, specifically waste water collection systems Growth drivers: Global fresh water shortages and the need f
Slide 12: Acquisition: Integrated Environmental Technology Group
Acquisition: Integrated Environmental Technology Group Located in Leeds, UK Annual revenues of approximately $25 million Expected to be accretive to 2009 earnings Leading provider of flow monitoring and underground utility surveillance services for the water and wastewater markets Growth drivers: Ag
Slide 13: Acquisition: Semrock
Acquisition: Semrock Located in Rochester, NY Annual revenues of approximately $21 million Expected to be accretive to 2009 earnings Leading manufacturer and supplier of optical filters for the life science (IVD and Biotech), mass spectrometry and molecular spectroscopy markets Growth drivers: Growi
Slide 14: Restructuring Initiatives
Restructuring Initiatives Site closures and workforce reductions Fluid Management facility Milan, Italy announced July 2008 Additional facility consolidation in FMT $15 - 17 million annual savings beginning in 2009 Primarily management and administrative headcount reductions $15 million non recurrin
Slide 15: 2008 Outlook
2008 Outlook FY 2008 Sales growth: 10 - 11% Low single digits Organic Growth 7% Acquisitions 2% Fx (at current rates) Pre-restructuring EPS estimate range: $2.00 - $2.04 Q4 2008 Sales growth: 8 - 10% Organic growth offset by more than 20% decline in Dispensing 10 - 12% Acquisitions EPS estimate rang
Slide 16: Q&A
Q&A CORPORATION