Pall Corp. Q1 Profit Plunges, Backs 2014 Outlook - Quick Facts

(RTTNews) - Pall Corp. (PLL) reported first-quarter net earnings of $71.51 million or $0.63 per share, sharply lower than $339.47 million or $2.92 per share in the prior-year quarter.

However, net earnings from continuing operations decreased to $71.51 million or $0.63 per share from $89.17 million or $0.77 per share last year.

Pro forma earnings from continuing operations was $79.03 million or $0.70 per share, compared to $78.54 million or $0.68 per share in the year-ago quarter.

On average, 12 analysts polled by Thomson Reuters expected the company to report profit per share of $0.69 for the quarter. Analysts' estimates typically exclude special items.

Net sales for the quarter edged up to $629.78 million from $627.60 million in the same quarter last year. Sales in local currency were up 2 percent. Analysts expected revenues of $627.27 million for the quarter.

Looking ahead to fiscal 2014, the company continues to expect revenue growth in the low-to-mid single digits, resulting in pro forma earnings per share growth of 9 to 15 percent. Analysts expect the company to report fiscal 2014 earnings of $3.40 per share.