Dover (DOV) 8-K Dover Reports Record Second Quarter 2007 Results

EXHIBIT 99.1

CONTACT:	READ IT ON THE WEB
Robert G. Kuhbach	www.dovercorporation.com
Vice President Finance &
Chief Financial Officer
(212) 922-1640	July 25, 2007

DOVER REPORTS RECORD SECOND QUARTER 2007 RESULTS

New York, New York, July 25, 2007 — Dover Corporation (NYSE: DOV) announced today that for the second quarter ended June 30, 2007, it had earnings from continuing operations of $175.1 million or $0.85 diluted earnings per share (“EPS”), compared to $158.8 million or $0.77 EPS from continuing operations in the prior-year period, both representing increases of 10%. Revenue for the second quarter of 2007 was $1.859 billion, an increase of 12% over the prior-year period.

Earnings from continuing operations for the six months ended June 30, 2007 were $314.0 million or $1.52 EPS, compared to $290.1 million or $1.41 EPS in the prior-year period, both representing increases of 8%. Revenue for the six month period ended June 30, 2007 was $3.639 billion, up 15% over the prior year period.

Commenting on the second quarter results, Dover’s President and Chief Executive Officer, Ronald L. Hoffman, stated: “We are pleased to report another record-setting quarter at Dover. We set all-time quarterly records with earnings from continuing operations of $175 million, diluted earnings per share of $0.85 and revenue of $1.9 billion. Continuing earnings increased 10% over the second quarter of 2006 while revenue was up 12% over the same period. Additionally, bookings for the quarter were a record $1.9 billion, a 17% increase over the comparable period of 2006 and we ended the quarter with a record backlog of $1.6 billion.”

Mr. Hoffman continued, “Our second quarter performance primarily reflected earnings contributions from acquisitions in Material Handling and Product Identification and strength in the Process Equipment, Mobile Equipment and Oil & Gas Equipment Groups, which more than offset weakness in the Automation & Measurement Group. Sequentially, all segments showed improvement in earnings and sales and all had positive leverage, with operating margins up 200 basis points to 15.0%. Our PerformanceCOUNTS program continues to drive world class performance across our operating companies, as we hit four out of five target metrics for the second quarter. Further evidence of our operational focus can be found in our free cash flow generation of $218 million in the second quarter which was 11.7% of revenue, bringing the six month free cash flow total to $235 million, or 6.5% of revenue.

“Looking forward to the third quarter, we expect moderate growth in organic revenue and earnings assuming the global economy stays healthy, and a modest improvement in the A & M Group. Taking into account the earnings contributions of 2006 acquisitions and a strong performance in most of our industrial markets, we anticipate that the third quarter will be another record-setting quarter.

“The remainder of the year will be an exciting time at Dover. Late in the third quarter we will announce a new organizational structure which better aligns Dover’s operating companies with broadly served markets,

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enhances our strategic acquisition focus and increases our shareholder transparency. We will also continue to be highly disciplined in our acquisition activity to ensure our capital is allocated in an efficient manner. While we didn’t close on any acquisitions in the second quarter, we did repurchase 1 million shares during that timeframe, bringing our year-to-date total to 1.5 million shares. Finally, I’d like to thank our dedicated employees around the world for producing a great quarter in the face of a dynamic and competitive market.”

Net earnings for the second quarter of 2007 were $172.2 million or $0.84 EPS, including a loss from discontinued operations of $2.9 million or $0.01 EPS, compared to net earnings of $71.9 million or $0.35 EPS for the same period of 2006, which included a loss from discontinued operations of $86.8 million or $0.42 EPS. Net earnings for the six months ended June 30, 2007 were $301.1 million or $1.46 EPS, including a loss from discontinued operations of $12.8 million or $0.06 EPS, compared to net earnings of $275.7 million or $1.34 EPS for the same period of 2006, which included a loss from discontinued operations of $14.3 million or $0.07 EPS.

Dover will host a webcast of its second quarter 2007 conference call at 8:00 AM Eastern Time on Wednesday, July 25, 2007. The webcast can be accessed at the Dover Corporation website atwww.dovercorporation.com. The conference call will also be made available for replay on the website and additional information on Dover’s second quarter 2007 results and its operating companies can also be found on the Company website and in the Company’s Form 10-Q filed after this release.

Dover Corporation makes information available to the public, orally and in writing, which may use words like “anticipates,” “expects,” “believes,” “indicates,” “suggests,” “will,” “plans” and “should,” which are “forward-looking statements” under the Private Securities Litigation Reform Act of 1995. This press release contains forward-looking statements concerning future events and the performance of Dover Corporation that involve inherent risks and uncertainties that could cause actual results to differ materially from current expectations, including, but not limited to, failure to achieve expected synergies, the impact of continued events in the Middle East on the worldwide economy, economic conditions, increases in the cost of raw materials, changes in customer demand, increased competition in the markets served by Dover Corporation’s operating companies, the impact of natural disasters, such as hurricanes, and their effect on global energy markets and other risks. Dover Corporation refers you to the documents that it files from time to time with the Securities and Exchange Commission, such as its reports on Form 10-K, Form 10-Q and Form 8-K, for a discussion of these and other risks and uncertainties that could cause its actual results to differ materially from its current expectations and from the forward-looking statements contained in this press release. Dover Corporation undertakes no obligation to update any forward-looking statement.

TABLES FOLLOW

DOVER CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(unaudited) (in thousands, except per share figures)

	Three Months Ended June 30,						Six Months Ended June 30,
	2007			2006			2007			2006
Revenue	$	1,858,965		$	1,660,341		$	3,639,152		$	3,170,554
Cost of goods and services		1,191,792			1,045,397			2,336,068			2,007,701
Gross profit		667,173			614,944			1,303,084			1,162,853
Selling and administrative expenses		404,765			366,126			825,196			701,626
Operating earnings		262,408			248,818			477,888			461,227
Interest expense, net		22,444			19,247			44,284			40,732
Other expense (income), net		147			4,113			(137	)		6,935
Total interest/other expense, net		22,591			23,360			44,147			47,667
Earnings before provision for income taxes and discontinued operations		239,817			225,458			433,741			413,560
Provision for income taxes		64,690			66,699			119,770			123,510
Earnings from continuing operations		175,127			158,759			313,971			290,050
Loss from discontinued operations, net		(2,933	)		(86,848	)		(12,846	)		(14,313	)
Net earnings	$	172,194		$	71,911		$	301,125		$	275,737
Basic earnings (loss) per common share:
Earnings from continuing operations	$	0.86		$	0.78		$	1.54		$	1.42
Loss from discontinued operations, net		(0.01	)		(0.43	)		(0.06	)		(0.07	)
Net earnings		0.84			0.35			1.47			1.35
Weighted average shares outstanding		204,431			203,897			204,446			203,602
Diluted earnings (loss) per common share:
Earnings from continuing operations	$	0.85		$	0.77		$	1.52		$	1.41
Loss from discontinued operations, net		(0.01	)		(0.42	)		(0.06	)		(0.07	)
Net earnings		0.84			0.35			1.46			1.34
Weighted average shares outstanding		206,145			205,615			206,155			205,234
Dividends paid per common share	$	0.185		$	0.170		$	0.370		$	0.340

The following table is a reconciliation of the share amounts used in computing earnings per share:

	Three Months Ended June 30,				Six Months Ended June 30,
	2007		2006		2007		2006
Weighted average shares outstanding — Basic		204,431		203,897		204,446		203,602
Dilutive effect of assumed exercise of employee stock options		1,714		1,718		1,709		1,632
Weighted average shares outstanding — Diluted		206,145		205,615		206,155		205,234
Anti-dilutive shares excluded from diluted EPS computation		3,403		1,875		3,403		6,141

DOVER CORPORATION
MARKET SEGMENT INFORMATION
(unaudited) (In thousands)

	2006																		2007
							Q2																		Q2
	Q1			Q2			YTD			Q3			Q4			YTD			Q1			Q2			YTD
REVENUE
Diversified		193,677			202,358			396,035			191,755			190,336			778,126			215,004			218,945			433,949
Electronics		199,495			222,751			422,246			225,469			232,969			880,684			222,418			234,724			457,142
Industries		218,742			226,072			444,814			233,744			242,311			920,869			230,461			239,595			470,056
Resources		425,162			435,341			860,503			463,853			517,135			1,841,491			551,979			561,946			1,113,925
Systems		181,285			234,124			415,409			217,543			201,902			834,854			205,583			220,997			426,580
Technologies		294,941			343,367			638,308			330,768			344,469			1,313,545			358,538			386,642			745,180
Intramarket eliminations		(3,089	)		(3,672	)		(6,761	)		(3,453	)		(3,356	)		(13,570	)		(3,796	)		(3,884	)		(7,680	)
Total consolidated revenue		1,510,213			1,660,341			3,170,554			1,659,679			1,725,766			6,555,999			1,780,187			1,858,965			3,639,152
NET EARNINGS
Segment Earnings:
Diversified		22,584			23,384			45,968			24,308			19,779			90,055			26,968			28,739			55,707
Electronics		20,754			29,862			50,616			31,618			37,191			119,425			23,838			27,792			51,630
Industries		27,328			30,208			57,536			31,389			35,057			123,982			30,837			38,428			69,265
Resources		82,797			80,919			163,716			76,641			75,971			316,328			93,812			97,137			190,949
Systems		26,972			38,341			65,313			24,920			23,880			114,113			26,576			34,129			60,705
Technologies		47,712			60,684			108,396			52,257			46,075			206,728			29,924			53,119			83,043
Total segments		228,147			263,398			491,545			241,133			237,953			970,631			231,955			279,344			511,299
Corporate expense / other		(18,560	)		(18,693	)		(37,253	)		(16,351	)		(17,174	)		(70,778	)		(16,191	)		(17,083	)		(33,274	)
Net interest expense		(21,485	)		(19,247	)		(40,732	)		(17,184	)		(19,068	)		(76,984	)		(21,840	)		(22,444	)		(44,284	)
Earnings from continuing operations before provision for income taxes		188,102			225,458			413,560			207,598			201,711			822,869			193,924			239,817			433,741
Provision for income taxes		56,811			66,699			123,510			50,455			45,575			219,541			55,080			64,690			119,770
Earnings from continuing operations		131,291			158,759			290,050			157,143			156,135			603,328			138,844			175,127			313,971
Earnings (loss) from discontinued operations, net		72,535			(86,848	)		(14,313	)		10,382			(37,615	)		(41,546	)		(9,913	)		(2,933	)		(12,846	)
Net earnings		203,826			71,911			275,737			167,525			118,520			561,782			128,931			172,194			301,125
SEGMENT OPERATING MARGIN
Diversified		11.7	%		11.6	%		11.6	%		12.7	%		10.4	%		11.6	%		12.5	%		13.1	%		12.8	%
Electronics		10.4	%		13.4	%		12.0	%		14.0	%		16.0	%		13.6	%		10.7	%		11.8	%		11.3	%
Industries		12.5	%		13.4	%		12.9	%		13.4	%		14.5	%		13.5	%		13.4	%		16.0	%		14.7	%
Resources		19.5	%		18.6	%		19.0	%		16.5	%		14.7	%		17.2	%		17.0	%		17.3	%		17.1	%
Systems		14.9	%		16.4	%		15.7	%		11.5	%		11.8	%		13.7	%		12.9	%		15.4	%		14.2	%
Technologies		16.2	%		17.7	%		17.0	%		15.8	%		13.4	%		15.7	%		8.3	%		13.7	%		11.1	%

QUARTERLY EPS & EARNINGS
(unaudited) (in thousands)

	2006										2007
	1 Qtr.		2 Qtr.			3 Qtr.		4 Qtr.			1 Qtr.			2 Qtr.
Basic earnings (loss) per common share:
Continuing operations	$	0.65	$	0.78		$	0.77	$	0.76		$	0.68		$	0.86
Discontinued operations		0.36		(0.43	)		0.05		(0.18	)		(0.05	)		(0.01	)
Net earnings		1.00		0.35			0.82		0.58			0.63			0.84
Diluted earnings (loss) per common share:
Continuing operations	$	0.64	$	0.77		$	0.77	$	0.76		$	0.67		$	0.85
Discontinued operations		0.35		(0.42	)		0.05		(0.18	)		(0.05	)		(0.01	)
Net earnings		0.99		0.35			0.82		0.58			0.63			0.84

DOVER CORPORATION
MARKET SEGMENT INFORMATION
(unaudited) (in thousands)

	2006												2007
					Q2						Q4						Q2
	Q1		Q2		YTD		Q3		Q4		YTD		Q1		Q2		YTD
	2006												2007
BOOKINGS
Diversified	$	208,245	$	210,061	$	418,306	$	199,207	$	213,243	$	830,756	$	219,406	$	222,307	$	441,713
Electronics		223,559		219,784		443,343		231,527		213,374		888,244		218,954		240,850		459,804
Industries		219,424		232,185		451,609		251,017		236,523		939,149		296,526		277,057		573,583
Resources		454,669		441,761		896,430		471,625		505,186		1,873,241		577,533		555,588		1,133,121
Systems		231,036		229,633		460,669		210,132		171,112		841,913		235,079		246,512		481,591
Technologies		339,124		325,101		664,225		307,885		325,609		1,297,719		361,759		392,117		753,876
BOOK-TO-BILL
Diversified		1.08		1.04		1.06		1.04		1.12		1.07		1.02		1.02		1.02
Electronics		1.12		0.99		1.05		1.03		0.92		1.01		0.98		1.03		1.01
Industries		1.00		1.03		1.02		1.07		0.98		1.02		1.29		1.16		1.22
Resources		1.07		1.01		1.04		1.02		0.98		1.02		1.05		0.99		1.02
Systems		1.27		0.98		1.11		0.97		0.85		1.01		1.14		1.12		1.13
Technologies		1.15		0.95		1.04		0.93		0.95		0.99		1.01		1.01		1.01
BACKLOG
Diversified	$	317,750	$	323,567			$	334,638	$	358,385			$	358,118	$	371,818
Electronics		165,253		163,182				169,151		150,143				184,260		190,318
Industries		234,174		251,301				282,234		288,835				360,037		398,682
Resources		196,379		203,757				249,040		237,987				262,845		258,095
Systems		223,843		218,360				211,939		181,530				210,850		236,683
Technologies		147,984		141,526				123,416		125,929				130,062		136,558