Pall Results Top Estimates

(RTTNews) - Filtration products maker Pall Corp (PLL) on Thursday reported third-quarter net earnings of $96.2 million or $0.89 per share compared with $88.7 million or $0.80 per share last year.

Excluding items, pro forma earnings for the quarter were $0.92 per share compared with $0.81 per share a year ago.

Pall, which is being acquired by Danaher Corp (DHR), said its revenues for the quarter marginally fell to $681.1 million from $682.4 million in the prior year.

Analysts polled by Thomson Reuters expected Pall to report earnings of $0.85 per share on revenues of $673 million for the quarter. Analysts' estimates typically exclude special items.

In local currency, sales for the quarter were up 11%, Pall said.

Gross margin improved to 52.2% from 51% a year ago.

Earlier this month, Pall agreed to be acquired by diversified machinery maker Danaher Corp (DHR) for $127.20 per share in cash. The deal has an enterprise value of about $13.8 billion, including assumed debt.