Leading positions in niche segments; Good customer, geographic, and product diversity; Above-average margins and profitability; and Strong cash flow generation. Integration risks related to acquisitions; Fragmented end markets; and Technology risks associated with the company's products. The ratings on Sarasota, Fla.-based Roper Industries Inc., a diversified manufacturer of industrial products, reflect our view of the company's satisfactory business profile. The business profile is characterized by leading positions in profitable niche markets, and by its broad product, end-market, and geographic diversity. However, the company is acquisitive, which exposes it to integration risk. Roper has annual sales of about $2 billion and provides engineered products and solutions for a diverse array of global niche markets. The company's reporting segments include industrial technology,
