Shares of Pall slide on slowing orders
The company said in a statement that the sale, to Massachusetts-based Haemonetics Corp., is a good one because it sharpens the company's focus on areas of its business that are most likely to grow. Credit: Barry Sloan
Shares of Pall Corp., a maker of water-filtration and purification systems, fell 5 percent in early trading Monday after the company said it anticipated that 2013 sales would be lower than expected.
The Port Washington company included its updated 2013 forecast in a filing to the U.S. Securities and Exchange Commission, saying first-quarter orders are down about 4 percent.
The company also said it expected 2013 earnings per share would be on the low end of the $3.05 to $3.25 range it released in September.
By 11 a.m., Pall’s stock was down $3.23, to 60.72 per share.
The company included the updated estimates in slides that chief executive Lawrence Kingsley will present on Tuesday at the Baird Industrial Conference in Chicago.
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Get ready for sun and fun with NewsdayTV's summer FunBook special! From celebrating America's 250th birthday to a new ride at Adventureland, NewsdayTV's Elisa DiStefano and Newsday lifestyle editor Meghan Giannotta have your inside look at Newsday's summer FunBook.
