Feb 4 (Reuters) - Industrial equipment maker IDEX Corp ( IEX )
reported a better-than-expected quarterly profit on
Tuesday, driven by strong sales of its health and science
technology segment products.
Quarterly sales in IDEX's ( IEX ) health and sciences technology
segment, which includes components and equipment used in
clinical diagnostics and drug discovery, as well as in the food
processing and cosmetic manufacturing industries, rose 19.3%.
The rise in demand was led by sellers seeking to replenish
inventories following an extended destocking cycle triggered by
large stockpiles during the COVID-19 pandemic.
Quarterly adjusted earnings per share stood at $2.04,
compared with Wall Street estimates of $2.02, according to data
compiled by LSEG.
Total revenue for the fourth quarter ended Dec. 31 was
$862.9 million, up about 9% from a year earlier. Analysts, on
average, were expecting revenue of $863.8 million in the fourth
quarter.