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Dover Corp




Dover Corp is a publicly traded company having a good stock performance result. Dover Corp is a fortune 500 stock listed company trading under DOV.It was incorporated in 1947 and is based in New York City.
 
 DOV manufactures industrial products and manufacturing equipment in the United States and Europe. It operates in 6 segments namely Diversified, Electronics, Industries, Resources, Systems, and Technologies. Diversified segment builds products for use in the defense, aerospace and automotive aftermarket industries; heat transfer equipment; specialized bearings; construction and agricultural cabs; and color measurement and control systems for printing presses.
 
The Company is a world-wide, diversified manufacturer of Industrial products. Their goal is to be the leader in every market we serve, to the benefit of their customers and shareholders. DOV is comprised of over 50 individual businesses and will continue to adapt to market conditions.
 
At December 31, 2005, the Company's net property, plant, and equipment totaled 816.7 million dollars compared to 727.0 million dollars at the end of 2004. The increase in net property, plant and equipment reflected acquisitions of 100.3 million dollars, capital expenditures of 152.1 million dollars, partially offset by decreases related to foreign currency fluctuation of 22.7 million dollars and depreciation.
 
Dover's consolidated pension benefit obligation increased by 160.7 million dollars in 2005. Due to the decrease in the net funded status of the plans and the increase in the amortization of unrecognized losses, it is estimated that pension expense will increase from 26.7 million dollars to approximately 41 million dollars in 2006. The Company anticipates discretionary contributions to its pension benefit plans of fewer than 25 million dollars in 2006.
 
The Company’s strong military sales and strength in the oil field industry contributed to Mobile Equipment revenue and earnings increases of 15 percent and 45 percent, respectively, with significant margin improvement. Earnings were also positively impacted by a gain of approximately 1 million dollars on the sale of a facility and cost control initiatives. Bookings increased 14 percent driven by strong demand for trailer and refuse products, generating a book-to-bill ratio of 1.05 and a backlog increase of 15 percent.

Dover aims to enhance shareholder value over the long term by achieving high earnings growth at or above their historical compound rate.

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