Traders Applaud Pall Corp.'s (PLL) Strong Q3 Results, FY10 Guidance; Stock Up 10% Today
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Pall Corp. (NYSE: PLL) is seeing shares soar on Wednesday following a 57 percent rise in quarterly profit as demand for its filters has recovered nicely since the company's second quarter.
The filtration and purification company reported fiscal third-quarter earnings of $69.7 million or 58 cents per share, compared with earnings of $44.2 million or 37 cents per share in the same quarter last year. Analysts were expecting more modest earnings of 50 cents per share for the quarter.
Revenue for Pall jumped 10.8 percent to $616 million in the three month period ended April 30, ahead of the market consensus of $598.74 million.
The company’s microelectronics market grew over 77 percent in the period, while orders in the industrial sector grew 47 percent as Pall see growth germinating across markets.
Gross margin for the company widened to 50.9 percent, compared to 47.5 percent in the same quarter a year ago.
“The expected Industrial recovery appears to now be firmly underway. Overall, orders grew 27 percent,” Eric Krasnoff, Chairman and CEO, said. “Gross margins continued their upward trend with ongoing efficiency enhancing and cost reduction programs, along with favorable mix, contributing to these results.”
Looking forward, the company sees full-year earnings at the high end of its previously stated guidance range of $1.95 to $2.05 per share.
Shares of Pall Corp. are up 10.4 percent to $35.57 today.
The filtration and purification company reported fiscal third-quarter earnings of $69.7 million or 58 cents per share, compared with earnings of $44.2 million or 37 cents per share in the same quarter last year. Analysts were expecting more modest earnings of 50 cents per share for the quarter.
Revenue for Pall jumped 10.8 percent to $616 million in the three month period ended April 30, ahead of the market consensus of $598.74 million.
The company’s microelectronics market grew over 77 percent in the period, while orders in the industrial sector grew 47 percent as Pall see growth germinating across markets.
Gross margin for the company widened to 50.9 percent, compared to 47.5 percent in the same quarter a year ago.
“The expected Industrial recovery appears to now be firmly underway. Overall, orders grew 27 percent,” Eric Krasnoff, Chairman and CEO, said. “Gross margins continued their upward trend with ongoing efficiency enhancing and cost reduction programs, along with favorable mix, contributing to these results.”
Looking forward, the company sees full-year earnings at the high end of its previously stated guidance range of $1.95 to $2.05 per share.
Shares of Pall Corp. are up 10.4 percent to $35.57 today.
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