NEW YORK -- Dover Corporation (NYSE: DOV), owner of Triton Systems, reported that it earned $45.1 million or 22 cents per diluted share from continuing operations in the first quarter ended March 31, 2002 compared to $77.9 million or 39 cents per diluted share from continuing operations in the comparable period last year.
Dover said that segment earnings for 2002's first quarter were $87 million, down 36 percent or $49.6 million from $136.6 million last year.
In the Dover Industries segment, which includes Triton, income increased 15 percent to $41.7 million from the comparable quarter last year on a sales decline of 4 percent, and income was ahead of the 2001 fourth quarter by 23 percent with a slight sales decline.
According to the Dover Web site, Triton's earnings were lower than the previous comparable period, but improved substantially from the fourth quarter of 2001 due to recent cost reductions.
