Dover (DOV) 8-K Dover Reports 16% Eps Improvement In Third Quarter Results

EXHIBIT 99.1

CONTACT:	READ IT ON THE WEB
Paul Goldberg	www.dovercorporation.com
Treasurer & Director of Investor Relations
(212) 922-1640
	October 24, 2007

DOVER REPORTS 16% EPS IMPROVEMENT IN THIRD QUARTER RESULTS

New York, New York, October 24, 2007 — Dover Corporation (NYSE: DOV) announced today that for the third quarter ended September 30, 2007, it had earnings from continuing operations of $177.9 million or $0.88 diluted earnings per share (“EPS”), compared to $155.3 million or $0.76 EPS from continuing operations in the prior-year period, representing increases of 15% and 16%, respectively. Revenue for the third quarter of 2007 was $1.84 billion, an increase of 15% over the prior-year period.

Earnings from continuing operations for the nine months ended September 30, 2007 were $484.4 million or $2.36 EPS, compared to $437.9 million or $2.13 EPS in the prior-year period, both representing increases of 11%. Revenue for the nine month period ended September 30, 2007 was $5.37 billion, up 15% over the prior year period.

Commenting on the third quarter results, Dover’s President and Chief Executive Officer, Ronald L. Hoffman, stated: “I am pleased to announce another excellent quarter at Dover with operating margins of 15.5%, a 30 bps improvement over the prior year period. Dover also produced strong free cash flow of $180.0 million, or 9.8% of revenue. Further, we continued to deliver on our PERFORMANCECOUNTS program by achieving 4 of 5 target metrics for the second quarter in a row.

Mr. Hoffman continued, “Our revenue increase of 15% reflects organic growth of 3.3%, acquisition growth of 9.6%, and a 2.0% benefit from foreign exchange. Excluding the Electronics Technology segment, the Industrial Products, Engineered Systems and Fluid Management segments fared even better, by producing combined organic growth of 5.9% in the third quarter. Overall growth was driven by strong performances in the Product Identification, Material Handling and Energy platforms.

“We also made two major announcements during the quarter. First, we initiated a $500 million share repurchase program of which approximately $300 million has been acquired thus far with the balance expected to be repurchased over the next few months. Second, we implemented a new organizational structure which identifies the true growth platforms of Dover and provides increased clarity for our investors. The new structure will maximize opportunities for improved operational efficiency and provide a framework for capitalizing on potential synergies.

“Looking forward to the fourth quarter, we anticipate the continuation of a solid but moderating business climate. We also expect to incur discrete integration and restructuring charges currently estimated in the range of $.02 to $.03 EPS as we continue to improve our business activities for sustainable long-term performance. Given these factors, plus the normal effects of seasonality, we expect our fourth quarter performance will show modest improvement over the same period last year.”

Net earnings for the third quarter of 2007 were $174.6 million or $0.86 EPS, including a loss from discontinued operations of $3.3 million or $0.02 EPS, compared to net earnings of $167.5 million or $0.82 EPS for the same period of 2006, which included income from discontinued operations of $12.2 million or $0.06 EPS. Net earnings for the nine months ended September 30, 2007 were $475.7 million or $2.32 EPS, including a loss from

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discontinued operations of $8.7 million or $0.04 EPS, compared to net earnings of $443.3 million or $2.16 EPS for the same period of 2006, which included income from discontinued operations of $5.4 million or $0.03 EPS.

Dover will host a webcast of its third quarter 2007 conference call at 8:00 A.M. Eastern Time on Wednesday, October 24, 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 third 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, with over $7 billion in annualized revenues, is a global portfolio of manufacturing companies providing innovative components and equipment, specialty systems and support services for a variety of applications in the industrial products, engineered systems, fluid management and electronic technologies markets. For more information, please visit www.dovercorporation.com.

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, including the sub-prime lending and credit issues, 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

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

	Three Months Ended September 30,					Nine Months Ended September 30,
	2007			2006		2007			2006
Revenue	$	1,843,829		$	1,605,247	$	5,366,067		$	4,650,106
Cost of goods and services		1,172,639			1,032,203		3,416,458			2,938,072
Gross profit		671,190			573,044		1,949,609			1,712,034
Selling and administrative expenses		404,537			347,431		1,215,675			1,035,496
Operating earnings		266,653			225,613		733,934			676,538
Interest expense, net		22,326			17,184		66,613			57,916
Other expense, net		2,416			2,702		2,281			9,650
Total interest/other expense, net		24,742			19,886		68,894			67,566
Earnings before provision for income taxes and discontinued operations		241,911			205,727		665,040			608,972
Provision for income taxes		63,972			50,439		180,643			171,080
Earnings from continuing operations		177,939			155,288		484,397			437,892
Earnings (loss) from discontinued operations, net		(3,348	)		12,237		(8,681	)		5,370
Net earnings	$	174,591		$	167,525	$	475,716		$	443,262
Basic earnings (loss) per common share:
Earnings from continuing operations	$	0.89		$	0.76	$	2.38		$	2.15
Earnings (loss) from discontinued operations		(0.02	)		0.06		(0.04	)		0.03
Net earnings		0.87			0.82		2.34			2.18
Weighted average shares outstanding		200,850			203,682		203,235			203,629
Diluted earnings (loss) per common share:
Earnings from continuing operations	$	0.88		$	0.76	$	2.36		$	2.13
Earnings (loss) from discontinued operations		(0.02	)		0.06		(0.04	)		0.03
Net earnings		0.86			0.82		2.32			2.16
Weighted average shares outstanding		202,469			205,313		204,915			205,294
Dividends paid per common share	$	0.200		$	0.185	$	0.570		$	0.525

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

	Three Months Ended September 30,				Nine Months Ended September 30,
	2007		2006		2007		2006
Weighted average shares outstanding — Basic		200,850		203,682		203,235		203,629
Dilutive effect of assumed exercise of employee stock options		1,619		1,631		1,680		1,665
Weighted average shares outstanding — Diluted		202,469		205,313		204,915		205,294
Anti-dilutive shares excluded from diluted EPS computation		1,699		1,837		3,358		2,252

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

	2006																		2007
	Q1			Q2			Q3			Q3 YTD			Q4			FY 2006			Q1			Q2			Q3			Q3 YTD
REVENUE
Industrial Products
Material Handling	$	155,581		$	157,101		$	175,408		$	488,090		$	218,409		$	706,499		$	243,344		$	251,679		$	233,106		$	728,129
Mobile Equipment		296,492			305,684			307,310			909,486			311,232			1,220,718			307,758			315,394			315,920			939,072
Eliminations		(187	)		(263	)		(259	)		(709	)		(219	)		(928	)		(219	)		(220	)		(203	)		(642	)
		451,886			462,522			482,459			1,396,867			529,422			1,926,289			550,883			566,853			548,823			1,666,559
Engineered Systems
Product Identification		114,731			137,040			143,482			395,253			173,048			568,301			206,625			224,353			227,617			658,595
Engineered Products		239,045			303,325			286,792			829,162			276,700			1,105,862			285,108			311,178			333,254			929,540
		353,776			440,365			430,274			1,224,415			449,748			1,674,163			491,733			535,531			560,871			1,588,135
Fluid Management
Energy		158,495			164,768			178,054			501,317			182,861			684,178			189,367			188,690			197,759			575,816
Fluid Solutions		157,455			161,434			159,478			478,367			167,032			645,399			169,669			174,579			176,756			521,004
Eliminations		66			(17	)		(20	)		29			(3	)		26			(40	)		(24	)		(12	)		(76	)
		316,016			326,185			337,512			979,713			349,890			1,329,603			358,996			363,245			374,503			1,096,744
Electronic Technologies		330,019			370,236			358,137			1,058,392			353,172			1,411,564			321,173			340,717			363,002			1,024,892
Intramarket eliminations		(2,850	)		(3,296	)		(3,135	)		(9,281	)		(3,059	)		(12,340	)		(3,437	)		(3,455	)		(3,370	)		(10,262	)
Total consolidated revenue	$	1,448,847		$	1,596,012		$	1,605,247		$	4,650,106		$	1,679,173		$	6,329,279		$	1,719,348		$	1,802,891		$	1,843,829		$	5,366,068
NET EARNINGS
Segment Earnings:
Industrial Products	$	62,985		$	65,177		$	61,858		$	190,020		$	61,208		$	251,228		$	70,148		$	85,077		$	75,893		$	231,118
Engineered Systems		49,995			73,789			62,905			186,689			55,041			241,730			50,944			77,318			79,451			207,713
Fluid Management		67,072			66,732			67,297			201,101			66,276			267,377			73,842			73,283			79,184			226,309
Electronic Technologies		47,742			60,872			52,658			161,272			53,675			214,947			36,949			45,354			50,801			133,104
Total Segments		227,794			266,570			244,718			739,082			236,200			975,282			231,883			281,032			285,329			798,244
Corporate expense / other		(22,563	)		(27,824	)		(21,807	)		(72,194	)		(16,611	)		(88,805	)		(22,393	)		(23,106	)		(21,092	)		(66,591	)
Net interest expense		(21,484	)		(19,248	)		(17,184	)		(57,916	)		(19,068	)		(76,984	)		(21,838	)		(22,449	)		(22,326	)		(66,613	)
Earnings from continuing operations before provision for income taxes		183,747			219,498			205,727			608,972			200,521			809,493			187,652			235,477			241,911			665,040
Provision for income taxes		55,616			65,025			50,439			171,080			45,958			217,038			53,161			63,510			63,972			180,643
Earnings from continuing operations		128,131			154,473			155,288			437,892			154,563			592,455			134,491			171,967			177,939			484,397
Earnings (loss) from discontinued operations, net		75,695			(82,562	)		12,237			5,370			(36,043	)		(30,673	)		(5,560	)		227			(3,348	)		(8,681	)
Net earnings	$	203,826		$	71,911		$	167,525		$	443,262		$	118,520		$	561,782		$	128,931		$	172,194		$	174,591		$	475,716
SEGMENT OPERATING MARGIN
Industrial Products		13.9	%		14.1	%		12.8	%		13.6	%		11.6	%		13.0	%		12.7	%		15.0	%		13.8	%		13.9	%
Engineered Systems		14.1	%		16.8	%		14.6	%		15.2	%		12.2	%		14.4	%		10.4	%		14.4	%		14.2	%		13.1	%
Fluid Management		21.2	%		20.5	%		19.9	%		20.5	%		18.9	%		20.1	%		20.6	%		20.2	%		21.1	%		20.6	%
Electronic Technologies		14.5	%		16.4	%		14.7	%		15.2	%		15.2	%		15.2	%		11.5	%		13.3	%		14.0	%		13.0	%
Total Segment		15.7	%		16.7	%		15.2	%		15.9	%		14.1	%		15.4	%		13.5	%		15.6	%		15.5	%		14.9	%
Basic earnings (loss) per common share:
Continuing operations	$	0.63		$	0.76		$	0.76		$	2.15		$	0.76		$	2.91		$	0.66		$	0.84		$	0.89		$	2.38
Discontinued operations		0.37			(0.40	)		0.06			0.03			(0.18	)		(0.15	)		(0.03	)		0.00			(0.02	)		(0.04	)
Net earnings		1.00			0.35			0.82			2.18			0.58			2.76			0.63			0.84			0.87			2.34
Diluted earnings (loss) per common share:
Continuing operations	$	0.63		$	0.75		$	0.76		$	2.13		$	0.75		$	2.88		$	0.65		$	0.83		$	0.88		$	2.36
Discontinued operations		0.37			(0.40	)		0.06			0.03			(0.17	)		(0.15	)		(0.03	)		0.00			(0.02	)		(0.04	)
Net earnings		0.99			0.35			0.82			2.16			0.58			2.73			0.63			0.84			0.86			2.32

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DOVER CORPORATION
QUARTERLY SEGMENT INFORMATION (continued)
(unaudited) (In thousands)

	2006																		2007
										Q3																		Q3
	Q1			Q2			Q3			YTD			Q4			FY 2006			Q1			Q2			Q3			YTD
BOOKINGS
Industrial Products
Material Handling	$	176,965		$	156,684		$	170,758		$	504,407		$	208,163		$	712,570		$	259,039		$	246,416		$	228,085		$	733,540
Mobile Equipment		302,838			311,496			325,345			939,679			311,417			1,251,096			374,845			353,122			298,016			1,025,983
Eliminations		(404	)		(426	)		(1,589	)		(2,419	)		(380	)		(2,799	)		(438	)		(445	)		(324	)		(1,207	)
	$	479,399		$	467,754		$	494,514		$	1,441,667		$	519,200		$	1,960,867		$	633,446		$	599,093		$	525,777		$	1,758,316
Engineered Systems
Product Identification	$	122,201		$	130,013		$	145,929		$	398,143		$	163,953		$	562,096		$	215,596		$	219,111		$	231,166		$	665,873
Engineered Products		295,712			305,753			290,647			892,112			275,653			1,167,765			322,940			344,559			294,235			961,734
	$	417,913		$	435,766		$	436,576		$	1,290,255		$	439,606		$	1,729,861		$	538,536		$	563,670		$	525,401		$	1,627,607
Fluid Management
Energy	$	170,191		$	166,628		$	186,444		$	523,263		$	170,664		$	693,927		$	200,010		$	187,502		$	194,733		$	582,245
Fluid Solutions		160,388			167,631			158,783			486,802			167,130			653,932			171,944			180,964			177,021			529,929
Eliminations		(21	)		(11	)		(20	)		(51	)		(32	)		(84	)		(15	)		(16	)		(12	)		(43	)
	$	330,558		$	334,248		$	345,207		$	1,010,014		$	337,762		$	1,347,775		$	371,939		$	368,450		$	371,742		$	1,112,131
Electronic Technologies	$	382,817		$	364,096		$	340,645		$	1,087,558		$	322,485		$	1,410,043		$	311,840		$	354,858		$	381,804		$	1,048,501
BACKLOG
Industrial Products
Material Handling	$	130,621		$	130,402		$	156,112					$	146,614					$	161,991		$	157,945		$	153,245
Mobile Equipment		369,013			385,745			417,467						429,191						501,591			541,683			529,423
Eliminations		(6	)		(5	)		(147	)					(165	)					(207	)		(236	)		(275	)
	$	499,628		$	516,142		$	573,432					$	575,640					$	663,375		$	699,392		$	682,393
Engineered Systems
Product Identification	$	42,912		$	43,733		$	48,042					$	57,706					$	66,875		$	62,216		$	68,682
Engineered Products		250,996			252,512			256,306						256,200						286,313			327,088			287,901
	$	293,908		$	296,245		$	304,348					$	313,906					$	353,188		$	389,304		$	356,583
Fluid Management
Energy	$	67,711		$	68,139		$	88,161					$	75,449					$	88,392		$	89,044		$	87,105
Fluid Solutions		56,154			62,481			61,794						63,565						65,683			72,028			73,007
Eliminations		(9	)		(4	)		(3	)					(33	)					(8	)		—			—
	$	123,856		$	130,616		$	149,952					$	138,981					$	154,067		$	161,072		$	160,112
Electronic Technologies	$	243,480		$	242,205		$	227,528					$	200,048					$	229,010		$	243,996		$	266,474
ACQUISITION RELATED DEPRECIATION AND AMORTIZATION EXPENSE*
Industrial Products	$	3,718		$	3,542		$	6,888		$	14,148		$	11,065		$	25,213		$	6,460		$	6,417		$	6,933		$	19,810
Engineered Systems		1,801			3,431			4,000			9,232			5,404			14,636			12,094			5,954			6,257			24,305
Fluid Management		4,487			3,936			3,761			12,184			3,999			16,183			3,800			3,812			3,796			11,408
Electronic Technologies		8,135			8,709			7,976			24,820			8,094			32,914			8,756			10,319			9,957			29,032
	$	18,141		$	19,618		$	22,625		$	60,384		$	28,562		$	88,946		$	31,110		$	26,502		$	26,943		$	84,555

* Represents the pre-tax impact on earnings from the depreciation and amortization of acquisition accounting write-ups to reflect the fair value of inventory, property plant and equipment, and intangible assets.