Bloomberg the Company

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Follow Us

Industry Products

Pall Gains After Earnings, Sales Beat Estimates

Don't Miss Out —
Follow us on:

Sept. 13 (Bloomberg) -- Pall Corp., 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 lmulvany1@bloomberg.net

To contact the editor responsible for this story: Simon Casey at scasey4@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.