SARASOTA, Fla., July 25, 2019 (GLOBE NEWSWIRE) -- Roper Technologies, Inc. (NYSE: ROP), a leading diversified technology company, reported financial results for the second quarter ended June 30, 2019.

Second quarter GAAP and adjusted revenue increased 3% to $1.33 billion. GAAP gross margin expanded 80 basis points to 63.9% and adjusted gross margin expanded 90 basis points to 64.0%. GAAP diluted earnings per share (“DEPS”) was $2.38, a 9% increase, while adjusted DEPS was $3.07, a 6% increase.

EBITDA increased 5% to $471 million and EBITDA margin expanded 70 basis points to 35.3%. Operating cash flow increased 13% to $301 million and free cash flow increased 14% to $286 million.

"Our diverse set of software and product businesses continued its strong execution in the second quarter with organic growth, margin expansion and, most important, excellent cash flow growth,” said Neil Hunn, Roper’s President and CEO.

“Our balance sheet positions us exceptionally well to continue executing against our active pipeline of high-quality acquisition opportunities," concluded Mr. Hunn.

Increasing 2019 Guidance

The Company now expects full year adjusted DEPS of $12.94 - $13.06, compared to previous guidance of $12.70 - $13.00.

For the third quarter of 2019, the Company expects adjusted DEPS of $3.16 - $3.20.

The Company’s guidance excludes the impact of unannounced future acquisitions or divestitures.

The Company’s agreement to divest its Gatan business to Thermo Fisher was terminated on June 10. As such, the Company’s guidance now includes Gatan for the full year.

About Roper Technologies

Roper Technologies is a constituent of the S&P 500, Fortune 1000, and the Russell 1000 indices. Roper operates businesses that design and develop software (both license and software-as-a-service) and engineered products and solutions for a variety of niche end markets. Additional information about Roper is available on the Company’s website at www.ropertech.com.