UPDATE: Pall Q4 Profit Beats Estimates, Shares Gain
Pall (NYSE: PLL) reported better-than-expected fourth-quarter earnings.
The Port Washington, New York-based company posted quarterly earnings per share of $1.11 per share, up from $0.90 per share, in the year-ago period. However, analysts were expecting earnings of $1.06 per share.
For fiscal 2014, Pall's earnings rose 13.2% to $3.44 per share.
Its sales jumped 12% to $800 million versus $717 million. Analysts projected revenue of $769.43 million.
Sales in the life sciences segment rose to $413 million from $354 million, while sales in the industrial segment gained to $387 million from $363 million.
Larry Kingsley, Pall Chairman and CEO, said, “The company performed well for the full year and delivered a strong fourth quarter. I'm particularly pleased with the very strong incremental margins and solid free cash flow despite the challenging economic backdrop.”
Pall expects FY15 earnings of $3.75 to $3.95 per share, versus analysts' estimates of $3.86 per share.
Pall shares gained 3.04% to $83.17 at 11:45 a.m. ET.
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.