Pall Corp. Q3 Profit Rises; Says On Track To Deliver FY Pro Forma EPS Target

(RTTNews) - Filtration products maker Pall Corp. (PLL) reported that its third-quarter net earnings rose to $88.69 million or $0.80 per share, from $73.07 million or $0.64 per share in the same quarter last year.

Pro forma earnings per share from continuing operations were $0.81, a 9% increase compared to $0.74 a year earlier, including a negative impact of approximately $0.01 from foreign currency translation. Analysts polled by Thomson Reuters expected the company to report earnings of $0.83 per share for the quarter. Analysts' estimates typically exclude special items.

Quarterly sales were $682.4 million compared to $641.2 million last year, an increase of over 6% compared to last year. Sales in local currency were up about 7%. Wall Street analysts had a consensus revenue estimate of $679.81 million for the quarter.

The company said it remain firmly on track to deliver on its plan for the year of mid-single digit top line growth and pro forma earnings per share in the range of $3.35 to $3.45, which would represent growth of 10-13% over fiscal 2013. Street currently is looking for fiscal year 2014 earnings of $3.41 per share on annual revenues of $2.75 billion.