Pall Corp. says overall revenue up 12 percent to $800 million

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Pall Corp., a manufacturer of filtration and purification systems, said Thursday, Aug. 28, 2014, that its net income rose to $120.1 million, or $1.09 per share, during the three months ended in July. This is the company headquarters on April 30, 2012 in Port Washington. Photo Credit: Barry Sloan

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Pall Corp., a Long Island maker of high-tech filters, said its fourth-quarter profits climbed sharply as sales to biopharmaceutical and aerospace manufactures surged.

The Port Washington company said Thursday its net income rose to $120.1 million, or $1.09 per share, during the three months ended in July, up 40 percent from the same period last year. Overall revenue climbed 12 percent, to $800 million.

"The company performed well for the full year and delivered a strong fourth quarter," Pall president and chief executive Larry Kingsley said.

The company's fourth-quarter revenue beat the expectations of analysts, who had forecast sales of $769.4 million.

Pall also released its 2015 sales outlook, saying it expected revenue to grow in the high- to mid-single digits, with earnings per share of $3.75 to $3.95.

The company, founded six decades ago by scientist and inventor David Pall, is among the world's largest manufacturers and distributors of filters that purify substances ranging from water to gasoline. It has roughly 9,800 employees globally.

Revenue from the company's largest unit, life sciences, climbed 17 percent during the fourth quarter, to $413 million, on higher sales to biopharmaceutical makers, thanks in part to a recent acquisition.

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Pall's industrial unit revenue from manufacturers of computer chips, microelectronics and other goods rose 7 percent, to $387 million. The biggest jump was in the aerospace division.

Pall's shares Thursday rose $2.71 to close at $83.43.

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