Industrial conglomerate Dover (NYSE:DOV) has its fingers in numerous pies, but that seems to be working out just fine for now. Who says you need to be tightly focused on one line of business to do well? After all, Dover just posted a quarter that many more specialized industrial companies would be more than happy to have.

Total revenue grew more than 24%, while organic revenue growth was around 17%. No, that's not a misprint -- this jack-of-all-trades really is growing that fast at the top line. And it's not as though it's running hell-bent just for growth -- both gross and operating margins improved notably this quarter.

I do like how this company is built such that weaknesses in some areas can be offset by strength in others. Results from the ATM and auto businesses weren't great, but with strong results in oil/gas, process equipment, and product ID, who really minds? If there's any structural weakness here, maybe it's that the company doesn't play at all in the medical equipment/technology space.

If you're an industrial company, you probably compete with Dover somewhere along the line. It sees Danaher (NYSE:DHR) in the product ID space, Illinois Tool Works (NYSE:ITW) in food service, Diebold (NYSE:DBD) in ATMs, Parker Hannifin (NYSE:PH) in materials handling, and so on. But with a fairly entrepreneurial culture, Dover doesn't seem all that hampered in responding to conditions in specific markets/products.

Though it's true that Dover has seen some extra juice from the energy markets in recent times, I wouldn't be concerned about long-term growth prospects. I'd expect the business to be vulnerable to overall economic conditions (both here and abroad), but there are new product opportunities and new markets popping up all throughout the business. Take just one market, retail fueling, for instance -- flex fuel cars, and maybe one day hydrogen-powered vehicles, could lead to upgrades and new equipment at fueling stations around the country.

I can understand if people take a look at Dover and walk away from it thinking that there are just too many things to follow. I'd also understand if you argued that following each individual market is really missing the forest for the trees. In any case, this is an industrial conglomerate that I think is worth a second look for Fools who want a truly broad play on overall machinery and industrial growth.

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Fool contributor Stephen Simpson has no financial interest in any stocks mentioned (that means he's neither long nor short the shares).