Dover Corp Q1 Earnings Drop 31%

(RTTNews) - Dover Corp (DOV) released a profit for first quarter that fell compared to the same period last year.

The company said its profit dropped to $80.78 million, or $0.52 per share. This was down from $117.19 million, or $0.72 per share, in last year's first quarter.

Analysts had expected the company to earn $0.60 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 5.8% to $1.62 billion. This was down from $1.72 billion last year.

Dover Corp earnings at a glance:

-Earnings (Q1): $80.78 Mln. vs. $117.19 Mln. last year. -Earnings Decline (Y-o-Y): -31.1% -EPS (Q1): $0.52 vs. $0.72 last year. -EPS Decline (Y-o-Y): -27.8% -Analysts Estimate: $0.60 -Revenue (Q1): $1.62 Bln vs. $1.72 Bln last year. -Revenue Change (Y-o-Y): -5.8%