Life sciences drove Pall’s growth in the second quarter of fiscal 2011, with sales to the biopharmaceuticals sector making the biggest gains.
The filtration technology firm’s revenue for the three months ended January was $645.2m (€466m), up 15 per cent on the year earlier quarter, while net earnings grew 52 per cent to $75.6m.
Life sciences generated more than half of Pall’s revenue for the period, with the contribution growing 12.4 per cent to $334m and profit increasing 10.8 per cent to $184m.
Within this the firm’s biopharmaceutical division, which sells a range of processing technologies, made the biggest quarterly gains with revenue growing 22 per cent to $179.5m.
Pall said that the growth reflected increasing demand for vaccine and plasma processing technologies with revenue from consumables, which grew 20.2 per cent in the period, also making an important contribution.
The firm’s industrial division, which serves the aeronautical, energy and microlelectonics sectors, also saw sales increase 18.2 per cent to $311m largely as a result of its aeropower technology unit.
Outlook for FY 2011
The second quarter results continue the trend Pall saw in the first three months of fiscal 2011.and, according to CEO Eric Krasnoff, are a testament to the firm’s strategy in the recovering global economy.
“We have positioned the company to benefit as the economy strengthens. Our first-half results attest to the demand for Pall technologies and solid execution of our growth plans.”
Krasnoff, who will retire next year, went on to announce revised guidance for fiscal 2011, increasing the firms EPS forecast for the year from $2.48 to $2.63 to between $2.80 and $2.90 based on its first half performance.