April 28 (Reuters) -
Roper Technologies ( ROP ) on Monday raised its annual
forecasts for revenue and profit after beating Wall Street
estimates for first-quarter results, helped by acquisitions and
strong demand for its enterprise software services.
Companies have taken a cautious approach to their
spending as budgets tighten amid economic uncertainties, but
Roper has seen steady demand thanks to its specialized software
products that are critical to enterprise operations across a
wide range of industries.
Roper has also driven growth through acquisitions
spanning across sectors including healthcare, transportation and
education.
The Sarasota, Florida-based company last year acquired
cloud-based software firm Procare Solutions, which provides
services for early childhood education centers, and campus
technology and payment solutions provider Transact Campus.
Roper last month also expanded its healthcare technology
portfolio with the acquisition of CentralReach, a provider of
software for autism and developmental disability care, for about
$1.65 billion.
The company now expects adjusted earnings per share between
$19.80 and $20.05 for the full year, compared with its previous
guidance of $19.75 to $20.00. It also forecast a current-quarter
per-share profit of $4.80 to $4.84, compared with $4.86
estimated by analysts, according to LSEG data.
It also expects annual revenue growth to be about 12%,
compared with its previous outlook of 10%.
"Despite an uncertain macroeconomic backdrop, we are
increasing our full year outlook. This is underpinned by
resilient demand for our mission critical solutions and our
expanding recurring revenue base," CEO Neil Hunn said in a
statement.
Roper reported revenue of $1.88 billion for the first
quarter, up 12% from a year ago. Analysts on average had
estimated $1.82 billion.
The company earned $4.78 per share in the three months ended
March 31, beating estimate of $4.74.