Polypore Q1 Profit Declines - Quick Facts

(RTTNews) - Filtration technology company Polypore International Inc. (PPO) Thursday reported first-quarter net income attributable to the company of $8.4 million or $0.18 per share, compared with $9.0 million or $0.19 per share last year.

Adjusted earnings were $13.6 million or $0.30 per share, compared with $10.0 million or $0.21 per share a year ago.

On average, nine analysts polled by Thomson Reuters estimated earnings of $0.32 per share for the quarter. Analysts' estimates typically exclude special items.

Sales for the quarter were $161.0 million, up from $145.9 million in the prior year. Analysts estimated sales of $161.72 million.

Further, the Board of Directors has authorized the company to repurchase up to 4.5 million shares of common stock, or approximately 10% of shares currently outstanding. The stock repurchases may be made from time-to-time on the open market or in privately negotiated transactions. The stock repurchase program does not require the company to repurchase any specific number of shares, and the company may terminate the repurchase program at any time.