Mettler-Toledo Q4 Profit Beats Estimates - Quick Facts

(RTTNews) - Mettler-Toledo International Inc. (MTD) reported that its fourth-quarter net income increased year-over-year to $110.16 million, from $104.63 million. Net earnings per share were $3.63, compared to $3.35 in the fourth quarter of 2012. Adjusted earnings per share were $3.82, for the quarter.

On average, 12 analysts polled by Thomson Reuters expected the company to report profit per share of $3.74 for the quarter. Analysts' estimates' typically exclude special items.

Sales were $684.3 million, a 3% increase in local currency sales, compared to $657.3 million in the prior-year quarter. Reported sales increased 4%, and included a 1% benefit due to currency in the quarter. Analysts expected revenue of $673.49 million for the quarter.

Olivier Filliol, President and Chief Executive Officer, stated, "Results were solid in Europe and the Americas. As expected, weaker demand in China was offset by better conditions in other regions within Asia / Rest of World. We generated good EPS growth as we continue to benefit from our various margin improvement and cost control initiatives. Finally, we are pleased with the strong cash flow generation in 2013."

The company updated its outlook for 2014 and noted that continued uncertainty in demand in many markets makes forecasting difficult. The management expects that local currency sales growth in 2014 will be in the range of 3% to 4% and adjusted earnings per share in the range of $11.40 to $11.60, an increase of 8% to 10%. Analysts expect the company to report fiscal 2014 earnings per share of $11.55.

The company anticipates local currency sales growth in the first quarter of 2014 will be approximately 3%. This sales growth will result in adjusted earnings per share in the range of $1.93 to $1.98. Analysts expect the company to report first-quarter profit per share of $1.99.