Pall Corp. revenues dip, earnings per share rise
On May 13, 2015, Port Washington-based Pall Corp. agreed to be acquired by Danaher Corp. in a $13.8 billion deal. Credit: Barry Sloan
Pall Corp., the Port Washington filtration and purification company acquired last week for $13.8 billion by Danaher Corp., Thursday reported slightly lower third-quarter revenue, but an 11 percent increase in earnings per share.
The impact of the strong dollar trimmed third-quarter sales to $681.1 million from $682.4 million in the year-ago quarter, the company said. Excluding acquisitions and the currency effect, sales rose about 9 percent.
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Pall Corp., the Port Washington filtration and purification company acquired last week for $13.8 billion by Danaher Corp., Thursday reported slightly lower third-quarter revenue, but an 11 percent increase in earnings per share.
The impact of the strong dollar trimmed third-quarter sales to $681.1 million from $682.4 million in the year-ago quarter, the company said. Excluding acquisitions and the currency effect, sales rose about 9 percent.
Diluted earnings per share climbed to 89 cents on net income of $96.2 million. That compares to diluted earnings per share of 80 cents on net income of $88.7 million in the prior year's period.
"Our performance is all the more impressive when you consider the significant, ongoing headwinds we have been facing due to foreign currency translation," Larry Kingsley, Pall chairman and CEO, said in a statement.
The company said it would no longer hold quarterly conference calls in light of the pending acquisition by Washington, D.C.-based Danaher. Shares of Pall closed up 6 cents to $124.29.
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