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NEW YORK - Dover Corp.'s profit grew 14 percent in the first quarter as strong trends continued in the industrial sector, the maker of industrial equipment and parts said Wednesday.
| DOV | 49.43 |  -1.16 |
Dover earned $147.2 million, or 76 cents per share, in the first quarter, compared with $128.9 million, or 63 cents per share, in the first quarter last year.
Analysts polled by Thomson Financial forecast profit of 75 cents per share.
Revenue climbed 4 percent to $1.86 billion from $1.78 billion. Analysts predicted revenue of $1.81 billion.
Bookings for new business grew 6 percent, and the company's backlog grew 8 percent.
Chief Executive Ronald L. Hoffman said in a statement Dover remains optimistic about the global markets the company serves.
"Market trends continued to be positive" in the first quarter, he said.
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