Pall reports growth in earnings for Q1
Nov 29, 2012 (Menafn - M2 EQUITYBITES via COMTEX) --Pall Corporation PLL, a fluid filtration, separation and purification solutions provider, reported on Wednesday net earnings of USD339.5m for the first quarter of its fiscal year 2013, ended 31 October 2012.
This is an increase from net earnings of USD69.5m in the same period last year.
Diluted earnings per share (EPS) from continuing operations were USD0.77, compared with USD0.51 a year earlier.
In total, diluted EPS amounted to USD2.92 in the quarter, compared to USD0.59 last year. This includes a gain on the sale of certain assets of the company's blood product line.
Pall's first fiscal quarter net sales were USD627.6m, a decrease of 3.6% from net sales of USD651.3m in the same quarter last year, although sales in local currency were flat year-over-year.
President and CEO Larry Kingsley said that the first quarter proved to be challenging due to order cancellations and a reduction in customer volume commitment. He noted that the emerging country markets are taking a more cautious approach to industrial capital commitment.
"Our more resilient Life Sciences business held up well driven by 8% growth in the BioPharmaceuticals markets," he added.
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