Pall Gains After Earnings, Sales Beat Estimates

Pall Corp. (PLL), a producer of water- filtration and purification systems, rose the most in more than a year after reporting fiscal fourth-quarter profit that beat analysts’ estimates as pharmaceutical and aerospace sales increased.

The shares climbed 8 percent to $62.80 in New York, the most since Aug. 9, 2011.

Net income dropped 11 percent to $86.2 million, or 73 cents a share, in the three months through July, from $97.4 million, or 82 cents, a year earlier, the Port Washington, New York-based company said in a statement yesterday after the close of regular trading. Earnings excluding discontinued operations and including a tax-related adjustment were 86 cents a share, beating the 77-cent average of 10 estimates complied by Bloomberg.

Revenue from Pall’s biopharmaceutical unit climbed 8.9 percent while aerospace sales advanced 17 percent. The company’s industrial unit, which includes aerospace, reported a 39 percent increase in gross profit to $67.6 million. That exceeded JPMorgan Chase & Co.’s estimates of $56.3 million, Jeffrey Zekauskas, an analyst for the bank who has a hold rating on the shares, said in a note.

“The Americas had strong growth while Europe and Asia were flat,” Pall Chief Executive Officer Larry Kingsley said in the statement.

To contact the reporter on this story: Lydia Mulvany in New York at

To contact the editor responsible for this story: Simon Casey at

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.