Source: LOHAS Weekly Newsletter
Published: Wednesday, December 07, 2005

Pall Corp., a maker of filtration systems for industrial applications, said Wednesday that its first-quarter earnings rose 16 percent, propelled by growth in its industrial and biopharmaceuticals segments.

Net income grew to $25.1 million, or 20 cents per share, from $21.7 million, or 17 cents per share, in the year-earlier period. On a pro forma basis, excluding restructuring and other charges, earnings totaled $25.3 million, or 20 cents per share, versus $26.4 million or 21 cents per share last year.

The company said that stock based compensation payment shaved earnings per share by 2 cents.

Sales increased 4 percent to $431.2 million from $414.7 million last year. Total industrial sales expanded 6 percent to $262.2 million, and biopharmaceutical sales grew 5 percent to $73.8 million.

Wall Street expected the company to earn 21 cents per share, on sales of $436.4 million, according to a poll by Thomson Financial.