What’s good for Pall Corporation (NYSE:PLL) is good for the health care and water industries writ large. A New York-based provider of filters, separators and purifiers for liquids and gases, Pall serves the manufacturing and health care industries. Analysts are expecting the company to announce earnings of $0.64 per share after the bell today.
That’s well above last quarter’s $0.58 per share, and it comes on the heel’s of some big contracts the company has landed with New Brunswick Scientific, the city of Calexico, California, and, most recently, a big contract with Abu Dhabi Gas Industries Ltd. (GASCO).
Pall Corporation did issue $375 million in senior notes at 5 percent recently (to pay off higher-interest notes due in 2012), and offer guidance in the “low single digits” for the forth quarter. All told, Pall expects EPS of $1.97 for fiscal 2010. Earnings of $0.64 per share this quarter would put them well on the way to hitting $1.97 per share for the year.
The company’s biggest growth of late has been in its “microelectronics” department where revenue jumped 89 percent. Increased global industrial demand is where the real profits are, though, and CEO Eric Krasnoff was confident industrial demand is going to keep growing.
“The expected industrial recovery appears to now be firmly under way,” Krasnoff said in a press release last quarter. Let’s hope he’s right; not just for Pall, but the economy at large.
