Pall Corp. Q4 Results Top Estimates - Update

(RTTNews) - Filtration products maker Pall Corp. (PLL) Thursday reported higher fourth-quarter profit, driven by 12 percent growth in sales. Pro-forma earnings per share, as well as revenues beat analysts' expectations.

For the fourth quarter, the company's net earnings increased to $120.09 million or $1.08 per share from $85.63 million or $0.76 per share in the previous year.

Excluding certain items, pro-forma earnings per share were $1.11 for the quarter, while it was $0.90 a year earlier.

On average, 12 analysts polled by Thomson Reuters expected the company to report profit per share of $1.06 for the quarter. Analysts' estimates typically exclude special items.

Net sales for the quarter climbed 12 percent to $799.95 million from $716.82 million a year ago. Analysts expected revenue of $769.43 million for the quarter. Sales in local currency were up about 10 percent, and rose nearly 5 percent excluding acquisitions.

Total Life Sciences segment sales increased 17 percent to $413 million, and Industrial segment sales were $387 million, up 7 percent from last year.

For fiscal 2015, the company expects pro forma earnings per share of $3.75 to $3.95, which represents 9 to 15 percent growth over fiscal 2014 performance.

Total revenue growth is anticipated to be in the mid-to-high single-digits. Analysts expect the company to report fiscal 2015 earnings per share of $3.86.

Pro-forma earnings were $3.44 for fiscal 2014, and sales totaled $2.8 billion.

PLL closed Wednesday's regular trading at $80.72 on the NYSE.