Pall Q1 Results Top View, Backs Full Year EPS Forecast - Quick Facts

(RTTNews) - Pall Corp. (PLL), a filtration, separation and purification provider, Tuesday said first-quarter net earnings increased to $88.27 million from last year's $71.51 million. Earnings per share increased to $0.81 from $0.63 last year.

Pro forma earnings per share were $0.89, while it was $0.70 a year earlier, including a detriment of approximately $0.05 from foreign currency translation.

On average, nine analysts polled by Thomson Reuters expected earnings of $0.81 per share for the quarter. Analysts' estimates typically exclude special items.

Sales climbed 11 percent o $696.5 million from $629.8 million last year. Sales in local currency were up 13 percent, and increased about 9 percent excluding acquisitions. Analysts expected revenues of $684.01million.

Larry Kingsley, Pall Chairman and CEO, said,"The dramatic strengthening of the U.S. Dollar, which began during our first quarter, will be a very significant earnings headwind for the year. However, our operating momentum provides us with confidence that we can largely offset FX and deliver a full year outlook consistent with our original guidance."

The firm continues to expect pro forma earnings per share for fiscal 2015 to be in the range of $3.75 to $3.95 per share. This is an increase of between 9 and 15 percent over fiscal 2014. Wall Street expects earnings of $3.88 per share for the year.