Slide 1: First Quarter 2004 Conference Call
FIRST QUARTER 2004 CONFERENCE CALL 9:00 AM Eastern April 20, 2004 Exhibit 99.2
Slide 2: Results from Continuing Operations
RESULTS FROM CONTINUING OPERATIONS ($ in millions, except per share figures) First Quarter 2004 2003 % Change Sales $1,242.4 $998.4 24.4% EBT $117.7 $75.6 55.7% Net Earnings $83.8 $57.7 45.2% DEPS $0.41 $0.28 46.4%
Slide 3: Dover Resources
DOVER RESOURCES ($ in millions) First Quarter 2004 2003 % Change Sales $303.7 $223.1 36.1% Earnings $49.4 $32.5 52.0% Operating Margin 16.3% 14.6% First quarter results improved significantly over last year, as all but three companies had double- digit earnings improvement. The Energy Products Group
Slide 4: Dover Industries
DOVER INDUSTRIES ($ in millions) First Quarter 2004 2003 % Change Sales $287.2 $241.1 19.1% Earnings $32.7 $26.4 23.9% Operating Margin 11.4% 10.9% First quarter sales were the highest in Industries' history. Bookings are at an all-time high, although steel prices negatively impacted margins. Growth
Slide 5: Dover Diversified
DOVER DIVERSIFIED ($ in millions) First Quarter 2004 2003 % Change Sales $293.6 $276.2 6.3 % Earnings $30.9 $31.2 -1.0 % Operating Margin 10.5% 11.3% Diversified's earnings were flat, as improvements at seven of eleven operating companies were offset largely by a sizable unfavorable comparison at Be
Slide 6: Dover Technologies
DOVER TECHNOLOGIES ($ in millions) First Quarter 2004 2003 % Change Sales $360.1 $260.0 38.5% Earnings $30.9 $10.5 194.3% Operating Margin 8.6% 4.0% CBAT: First quarter bookings grew 23% sequentially with a book-to-bill ratio of 1.16. Sequential sales also increased 12%. Back-end semiconductor produ
Slide 7: Technologies (continued)
DOVER TECHNOLOGIES SEC (continued): Vectron, the largest of the SEC companies, continues to show the strongest recovery with bookings, sales and earnings up 21%, 5% and 22%, sequentially, and 38%, 31% and 178%, respectively, over the first quarter of 2003. Wireless infrastructure capital spending fo