NEW YORK -- Triton Systems parent Dover Corporation (NYSE: DOV) earned $58.5 million or 29 cents a share from continuing operations in 2003's first quarter, compared to $48.4 million or 24 cents a share in 2002's first quarter, an increase of 21 percent.
Net earnings were $59.5 million, including $1 million of earnings from discontinued operations, compared to $45.1 million, including $3.3 million from discontinued operations, in 2002's first quarter.
According to a news release, Triton was one of the stars of the Dover Industries segment. While Dover Industries' first quarter earnings decreased 31 percent or $12 million to $27.2 million and sales declined 5 percent or $13.6 million to $247.9 million from 2002's first quarter, Triton was one of ??? Industries companies to show earnings improvements, along with DI Foodservice, Kurz-Kasch and Dovatech.
"Triton's successful 2002 new product introductions continue to contribute to share gains both domestically and internationally," according to the release.
Triton's first quarter 2003 performance seems to continue a growth trend for the manufacturer. According to an earlier earnings report for Dover Corporation, Triton was the largest contributor to 2002 earnings for Dover Industries. (See related story Triton performs well for parent in '02)
