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Roper Technologies profit misses consensus by 35.6% in Q1

Roper Technologies Inc. said its normalized net income for the first quarter was $1.28 per share, compared with the S&P Capital IQ consensus estimate of $1.99 per share.

EPS fell year over year from $1.33.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $132.1 million, a decline from $135.9 million in the prior-year period.

The normalized profit margin dropped to 12.2% from 15.1% in the year-earlier period.

Total revenue increased 20.4% year over year to $1.09 billion from $902.4 million, and total operating expenses grew 26.0% year over year to $828.0 million from $657.4 million.

Reported net income rose from the prior-year period to $157.7 million, or $1.53 per share, from $151.4 million, or $1.48 per share.