Pall Corp.: Sales fall in 'cautious' climate

Pall Corp.'s earnings rose on a gain from

Pall Corp.'s earnings rose on a gain from the sale of assets in the company's blood-product line, but sales were down 3.6 percent, the company said Nov. 28. (April 30, 2012) Photo Credit: Barry Sloan

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Sales slipped at Pall Corp., the Port Washington-based maker of water-filtration and purification systems, as foreign customers grew cautious, the company said Wednesday.

Earnings rose on a gain from the sale of assets in the company's blood-product line. Pall said it earned $339.5 million, or $2.92 a share, for the three months ended Oct. 31, its first fiscal quarter. The results were up from $69.5 million or 59 cents a share, a year earlier.

Sales of $627.6 million were down 3.6 percent.

"The first quarter proved to be challenging due to order cancellations and a reduction in customer volume commitment," Larry Kingsley, Pall president and CEO, said in a statement. "The emerging country markets are taking a more cautious approach to industrial capital commitment."

Pall said the biggest decrease in sales, 6.3 percent to $327.6 million, was in its industrial segment, which includes process technologies, aerospace and microelectronics. Sales of its life sciences segment fell six-tenths of a percent, to about $300 million.

Kingsley said, "We expect life sciences to continue to perform well, while industrial will have a difficult year."

Shares of Pall rose 2 cents, to $60.18, after hours. The company released its earnings after the close of regular trading.

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Pall, founded six decades ago by David Pall, is among the world's largest manufacturers and distributors of filters, and is the fifth-largest public company on Long Island by revenue. It has roughly 11,000 employees globally, with an estimated 750 on Long Island.

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