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Pall Corporation Message Board

  • bluecheese4u bluecheese4u Sep 12, 2012 6:33 PM Flag

    Pall Corporation Reports Fourth Quarter and Full Year Results

    Pall Corporation Reports Fourth Quarter and Full Year Results

    Reports Record Quarterly Sales and Operating Margin

    PORT WASHINGTON, N.Y., September 12, 2012 - Pall Corporation (NYSE:PLL) today reported financial results for the fourth quarter and fiscal year ended July 31, 2012.

    Fourth Quarter Sales and Earnings Overview

    Total Company:
    Fourth quarter sales were $783.7 million compared to $780.4 million last year, an increase of 0.4% (+6.1% in local currency (“LC”)). Diluted earnings per share (“EPS”) were $0.73 in the quarter, compared to $0.82 last year. Pro forma diluted EPS(1) were $0.99 compared to $0.76 last year, an increase of 30%. Foreign currency translation negatively impacted fourth quarter EPS by $0.05.

    Continuing Operations:(2)
    Sales in the quarter were $722.4 million, an increase of about 1% (+6.4% LC). Diluted EPS were $0.64 in the quarter, compared to $0.76 last year. Pro forma EPS were $0.86 compared to $0.65 last year, an increase of 32%.

    Larry Kingsley, President and CEO, said, “We executed a solid fourth quarter. We focused almost exclusively on restoring customer service levels and we have recovered from the ERP implementation challenges in the third quarter of FY12. We also closed the transaction with Haemonetics on August 1st as planned. We have taken action to insure that we can achieve reasonable shareholder return in a choppy economic environment.

    “Our BioPharmaceuticals, Machinery & Equipment, and Aerospace markets all performed very well in the quarter. On a regional basis, the Americas had strong growth while Europe and Asia were flat. System sales were negative in the quarter as a function of a very large comparison quarter in FY11, our decision to pare certain unprofitable system sales, and lower capital commitment in some markets.

    “Consumable orders were strong globally with the exception of our Industrial markets in Europe where orders declined 7% year-on-year.

    “Our performance reflected slightly better than expected supply chain recovery assumptions as stated in the prior quarter call.”

    Full Year Sales and Earnings Overview

    Total Company:
    For the full year, sales increased 5.9% over last year (+6.9% LC). Diluted EPS were $2.71, compared to $2.67 for the same period last year. Pro forma EPS were $3.19, a 15% increase compared to $2.77 a year earlier. Foreign currency translation had an immaterial impact on full year EPS.

    Continuing Operations:(2)
    Sales from continuing operations for the full year increased 6.1% (+7.2% LC) over last year. Diluted EPS were $2.39 compared to $2.36. Pro forma EPS were $2.80, a 16% increase compared to $2.42 a year earlier.

    Life Sciences – Fourth Quarter Highlights (2)

 
PLL
86.27-0.14(-0.16%)Apr 17 4:04 PMEDT

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