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Thursday, Aug 29
Pall FQ4 beats estimates despite a dip in revenue
- Pall Corp. (PLL +0.5%) put up a better than expected FQ4, but net profit fell 0.7% as total revenue dipped by 1% Y/Y, and its bottom line was dragged down by a loss from discontinued operations.
- The company's attributed the weaker sales to softness in its industrial markets, which have been pressured by soft demand.
- Earnings beat the Street however, as its biopharmaceuticals business posted strong performance.
- Gross margin was flat at 51.5%, as input costs shrank 0.6%.
- Looking forward, the company forecasts earnings of between $3.30 to $3.50 per share on revenue growth in the low to mid-single digits. Analysts are looking for $3.48 a share on 5% revenue growth.