Oct 23 (Reuters) - Roper Technologies ( ROP ) raised its
full-year profit and revenue forecasts above Wall Street
estimates on Wednesday on improved demand for its enterprise
software services that cater to industries including healthcare
and legal.
The results are a positive sign for the company that had
been struggling with weak spending on its diverse software
portfolio in a tough economy, leading to delayed contract
renewals.
Roper in August agreed
to buy
Transact Campus for $1.5 billion to strengthen its business
that serves higher education institutions and healthcare
facilities, in a bid to improve its fortunes.
The company updated the lower end of its annual adjusted
profit forecast to between $18.21 and $18.25 per share, compared
with the prior view of $18.10 to $18.25.
The mid-point of the revised forecast is above analysts'
average estimate of $18.21, according to data compiled by LSEG.
The company expects its full-year revenue growth to be more
than 13%, compared with estimates of 11.9%.
It sees its fourth-quarter adjusted profit in the range of
$4.70 to $4.74 per share, the mid-point of which was below
estimates of $4.77.
Revenue from its application software business, Roper's
biggest, was $984.4 million for the quarter ended Sept. 30,
beating estimates of $950.5 million.
The company reported a revenue of $1.76 billion in the third
quarter, above estimates of $1.73 billion.
Its quarterly adjusted profit came in at $4.62 per share,
compared with estimates of $4.53.