PLL
$7.86
Piedmont Lithium Ltd ADR
($.87)
(9.97%)
Earnings Details
3rd Quarter April 2015
Thursday, May 21, 2015 5:00:01 PM
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Summary

Piedmont Lithium Ltd ADR (PLL) Recent Earnings

Piedmont Lithium Ltd ADR (PLL) reported 3rd Quarter April 2015 earnings of $0.92 per share on revenue of $681.1 million. The consensus earnings estimate was $0.85 per share on revenue of $677.2 million. Revenue fell 0.2% compared to the same quarter a year ago.

Pall Corporation supplies filtration, separation and purification technologies, using its fluid clarification and separations equipment for the removal of solid, liquid and gaseous contaminants from a wide variety of liquids and gases.

Results
Reported Earnings
$0.92
Earnings Whisper
-
Consensus Estimate
$0.85
Reported Revenue
$681.1 Mil
Revenue Estimate
$677.2 Mil
Growth
Earnings Growth
Revenue Growth
Power Rating
Grade
Earnings Release

Pall Corporation Reports Third Quarter Results

Pall Corporation (PLL) today reported financial results for the third quarter of fiscal year 2015 which ended April 30, 2015.

-- Sales in the quarter were flat; up 11% in local currency

Diluted EPS in the quarter of $0.89 up 11%; pro forma diluted EPS of $0.92, up 14%

-- Free cash flow in the nine months of $321 million, up 10%

Third Quarter and Nine Months Sales and Earnings Overview

Third quarter sales were $681.1 million compared to $682.4 million last year. Sales in local currency ("LC") were up 11%, and about 9% excluding acquisitions. Diluted EPS were $0.89 in the quarter, compared to $0.80 last year. Pro forma diluted EPS(1) were $0.92, a 14% increase compared to $0.81 a year earlier, including a headwind of approximately $0.15 from foreign currency translation. Excluding the impact of foreign currency translation, pro forma diluted EPS increased by 32%.

Sales in the nine months were $2.1 billion, an increase of 3% year over year. Sales in LC were up 10%, and about 7% excluding acquisitions. Diluted EPS were $2.47 in the nine months, compared to $2.17 last year. Pro forma diluted EPS(1) were $2.69, a 15% increase compared to $2.33 a year earlier, including a headwind of approximately $0.30 from foreign currency translation.

Larry Kingsley, Pall Chairman and CEO, said, "We delivered yet another solid quarter, with 9% organic LC revenue growth and 14% pro forma EPS growth. Both Life Sciences and Industrial performed very well, and we continue to convert strongly to the bottom line. Our performance is all the more impressive when you consider the significant, ongoing headwinds we have been facing due to foreign currency translation."

Life Sciences - Third Quarter Highlights

(Dollar Amounts in Millions)
Sales:
APR. 30, 2015
APR. 30, 2014
%
% CHANGE IN
CHANGE
LC
BioPharmaceuticals
$
244
$
236
4
16
Food & Beverage
42
46
(10 )
5
Medical
52
56
(8 )
4
Total Consumables
338
338
--
13
Systems
26
31
(14 )
(2 )
Total Life Sciences segment
$
364
$
369
(1 )
11
Gross profit
$
202
$
202
% of sales
55.4
54.9
Segment profit
$
94
$
88
% of sales
25.8
24.0

Industrial - Third Quarter Highlights

(Dollar Amounts in Millions)
Sales:
APR. 30, 2015
APR. 30, 2014
%
% CHANGE IN
CHANGE
LC
Process Technologies
$
134
$
137
(2 )
9
Aerospace
55
54
2
9
Microelectronics
79
75
6
14
Total Consumables
268
266
1
10
Systems
49
47
2
12
Total Industrial segment
$
317
$
313
1
11
Gross profit
$
153
$
146
% of sales
48.4
46.4
Segment profit
$
57
$
49
% of sales
17.9
15.7

Conference Call Information / Outlook

In light of the announced transaction with Danaher Corporation, the Company will no longer hold conference calls for its quarterly and annual earnings, and will no longer provide annual earnings guidance. The transaction, which is expected to close by the end of calendar 2015, is subject to Pall Corporation shareholder approval and other customary closing conditions, including regulatory approvals.

About Pall Corporation

Pall Corporation (PLL) is a filtration, separation and purification leader providing solutions to meet the critical fluid management needs of customers across the broad spectrum of life sciences and industry. Pall works with customers to advance health, safety and environmentally responsible technologies. The Company’s engineered products enable process and product innovation and minimize emissions and waste. Pall Corporation is an S&P 500 company serving customers worldwide. Follow us on Twitter @PallCorporation or visit www.pall.com.

Forward-Looking Statements

The matters discussed in this press release contain "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. Results for the third quarter of fiscal year 2015 are preliminary until our Form 10-Q is filed with the Securities and Exchange Commission on or before June 9, 2015. Forward-looking statements are those that address activities, events or developments that we intend, expect, project, believe or anticipate will or may occur in the future. All statements regarding future performance, earnings projections, earnings guidance, management’s expectations about our future cash needs and effective tax rate, and other future events or developments are forward-looking statements. Forward-looking statements are those that use terms such as "may," "will," "expect," "believe," "intend," "should," "could," "anticipate," "estimate," "forecast," "project," "plan," "predict," "potential," and similar expressions. Forward-looking statements contained in this and other written and oral reports are based on management’s assumptions and assessments in light of past experience and trends, current conditions, expected future developments and other relevant factors.

Our forward-looking statements are subject to risks and uncertainties and are not guarantees of future performance, and actual results, developments and business decisions may differ materially from those envisaged by our forward-looking statements. Such risks and uncertainties include, but are not limited to, those discussed in Part I-Item 1A.-Risk Factors in the 2014 Form 10-K, and other reports we file with the Securities and Exchange Commission, including: the occurrence of any event, change or other circumstances that could give rise to the termination of the Merger Agreement with Danaher; the outcome of any legal proceedings that may be instituted against us related to the Merger Agreement; the inability to complete the transaction due to the failure to obtain the Required Vote or the failure to satisfy other conditions to completion of the transaction, including the receipt of all regulatory approvals related to the transaction; the disruption of management’s attention from our ongoing business operations due to the transaction; the effect of the announcement of the transaction on our relationships with our customers, operating results and business generally; the impact of disruptions in the supply of raw materials and key components for our products from suppliers, including limited or single source suppliers; the impact of terrorist acts, conflicts and wars or natural disasters; the extent to which special U.S. and foreign government laws and regulations, such as the Foreign Corrupt Practices Act and the U.K. Bribery Act, and regulations and procurement policies and practices, including regulations on import-export control, may expose us to liability or impair our ability to compete in international markets; the impact of a significant disruption in, or breach in security of, our information technology systems or we fail to implement, manage or integrate new systems, software and technologies successfully; the impact of economic, political, social and regulatory instability in emerging markets, and other risks characteristic of doing business in emerging markets; fluctuations in foreign currency exchange rates and interest rates; our ability to successfully complete or integrate acquisitions; product defects and unanticipated use or inadequate disclosure with respect to our products; our ability to develop innovative and competitive new products; the impact of global and regional economic conditions and legislative and political developments; our ability to comply with a broad array of regulatory requirements; the loss of one or more members of our senior management team and our ability to recruit and retain qualified management personnel; changes in the demand for our products and business relationships with key customers and suppliers; changes in product mix and product pricing, particularly with systems products and associated hardware and devices for our consumable filtration products; our ability to deliver our backlog on time; increases in manufacturing and operating costs and/or our ability to achieve the savings anticipated from our structural cost improvement initiative; the impact of environmental, health and safety laws and regulations, and violations; our ability to enforce patents or protect proprietary products and manufacturing techniques; costs and outcomes of pending or future litigation and the availability of insurance or indemnification rights; changes in our effective tax rate; the impact of certain risks associated with potential labor disruptions; our ability to compete effectively in domestic and global markets; and the effect of the restrictive covenants in our debt facilities. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We make these statements as of the date of this disclosure and undertake no obligation to update them, whether as a result of new information, future developments or otherwise.

Management uses certain non-GAAP measurements to assess the Company’s current and future financial performance. The non-GAAP measurements do not replace the presentation of the Company’s GAAP financial results. These measurements provide supplemental information to assist management in analyzing the Company’s financial position and results of operations. The Company has chosen to provide this information to facilitate meaningful comparisons of past, present and future operating results and as a means to emphasize the results of ongoing operations. Reconciliations of the non-GAAP financial measures used throughout this release to the most directly comparable GAAP measures appear in the accompanying tables at the end of this document and are also available on Pall’s website at www.pall.com/investor.

PALL CORPORATION
CONDENSED CONSOLIDATED BALANCE SHEETS
(Unaudited)
(Amounts in Thousands)
APR. 30, 2015
JUL. 31, 2014
Assets:
Cash and cash equivalents
$
1,094,504
$
964,110
Accounts receivable
547,295
615,713
Inventories
385,994
404,878
Other current assets
154,937
152,522
Total current assets
2,182,730
2,137,223
Property, plant and equipment
725,260
805,327
Other assets
832,383
907,930
Total assets
$
3,740,373
$
3,850,480
Liabilities and Stockholders’ Equity:
Short-term debt
$
800,752
$
512,898
Accounts payable, income taxes and other current liabilities
491,797
584,748
Total current liabilities
1,292,549
1,097,646
Long-term debt, net of current portion
373,472
373,793
Deferred taxes and other non-current liabilities
439,795
483,684
Total liabilities
2,105,816
1,955,123
Stockholders’ equity
1,634,557
1,895,357
Total liabilities and stockholders’ equity
$
3,740,373
$
3,850,480
PALL CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS
(Unaudited)
(Amounts in Thousands, Except Per Share Data)
THIRD QUARTER ENDED
NINE MONTHS ENDED
APR. 30, 2015
APR. 30, 2014
APR. 30, 2015
APR. 30, 2014
Net sales
$
681,145
$
682,445
$
2,051,431
$
1,989,193
Cost of sales(2)
325,747
334,371
993,607
971,146
Gross profit
355,398
348,074
1,057,824
1,018,047
% of sales
52.2 %
51.0 %
51.6 %
51.2 %
Selling, general and administrative expenses
197,683
201,045
592,173
592,228
% of sales
29.0 %
29.5 %
28.9 %
29.8 %
Research and development
24,025
26,644
73,260
74,890
Operating profit
133,690
120,385
392,391
350,929
% of sales
19.6 %
17.6 %
19.1 %
17.6 %
Restructuring and other charges ("ROTC")(3)
14,131
11,542
34,905
29,910
Interest expense, net(5)
1,270
4,747
14,210
15,919
Earnings before income taxes
118,289
104,096
343,276
305,100
Provision for income taxes(4)
22,112
15,405
74,427
61,230
Net earnings
$
96,177
$
88,691
$
268,849
$
243,870
Average shares outstanding:
Basic
107,162
110,183
107,502
110,946
Diluted
108,557
111,466
108,812
112,215
Earnings per share:
Basic
$
0.90
$
0.80
$
2.50
$
2.20
Diluted
$
0.89
$
0.80
$
2.47
$
2.17
Pro forma diluted earnings per share(1)
$
0.92
$
0.81
$
2.69
$
2.33
PALL CORPORATION
RECONCILIATION OF PRO FORMA EARNINGS
(Unaudited)
(Amounts in Thousands, Except Per Share Data)
THIRD QUARTER ENDED
NINE MONTHS ENDED
APR. 30, 2015
APR. 30, 2014
APR. 30, 2015
APR. 30, 2014
Net earnings as reported
$
96,177
$
88,691
$
268,849
$
243,870
Discrete items:
Cost of sales adjustment, after pro forma tax effect(2)
--
1,419
--
1,419
ROTC, after pro forma tax effect(3)
11,250
10,272
31,049
26,055
Tax adjustments(4)
(4,402 )
(9,090 )
(4,402 )
(9,090 )
Interest adjustments, after pro forma tax effect(5)
(2,648 )
(1,138 )
(2,648 )
(1,138 )
Total Discrete Items
4,200
1,463
23,999
17,246
Pro forma net earnings(1)
$
100,377
$
90,154
$
292,848
$
261,116
THIRD QUARTER ENDED
NINE MONTHS ENDED
APR. 30, 2015
APR. 30, 2014
APR. 30, 2015
APR. 30, 2014
Diluted earnings per share as reported
$
0.89
$
0.80
$
2.47
$
2.17
Discrete items:
Cost of sales adjustment, after pro forma tax effect(2)
--
0.01
--
0.01
ROTC, after pro forma tax effect(3)
0.10
0.09
0.29
0.24
Tax adjustments(4)
(0.04 )
(0.08 )
(0.04 )
(0.08 )
Interest adjustments, after pro forma tax effect(5)
(0.03 )
(0.01 )
(0.03 )
(0.01 )
Total discrete items
0.03
0.01
0.22
0.16
Pro forma diluted earnings per share(1)
$
0.92
$
0.81
$
2.69
$
2.33
(1)
Pro forma earnings measures exclude the items described in the
footnotes below as they are deemed to be non-recurring in nature
and/or not considered by management to be indicative of underlying
operating performance. The pro forma tax effects disclosed were
calculated using applicable entity-specific tax rates.
(2)
Cost of sales in the quarter and nine months ended April 30, 2014
includes a purchase accounting adjustment of $2,165 ($1,419 after
pro forma tax effect of $746) related to the step up of acquired
inventory.
(3)
ROTC in the quarter and nine months ended April 30, 2015 of $14,131
($11,250 after pro forma tax effect of $2,881) and $34,905 ($31,049
after pro forma tax effect of $3,856), respectively, includes
severance costs related to the Company’s structural cost improvement
initiative as well as an impairment of a building held for sale. The
nine months ended April 30, 2015 also includes the impairments of
assets related to the exit of an immaterial product line and a
redundant software project.
ROTC in the quarter and the nine months ended April 30, 2014 of
$11,542 ($10,272 after pro forma tax effect of $1,270) and $29,910
($26,055 after pro forma tax effect of $3,855), respectively
primarily includes severance costs related to the Company’s
structural cost improvement initiative. The nine months ended April
30, 2014 also includes an adjustment to environmental reserves.
(4)
Provision for income taxes in the quarter and the nine months ended
April 30, 2015, includes a net benefit of $4,402 related to the
resolution of U.S. and Italian tax audits, partly offset by the cost
of repatriation of foreign earnings.
Provision for income taxes in the quarter and the nine months ended
April 30, 2014, includes a net benefit of $9,090 related to the
resolution of foreign tax audits, partly offset by additional tax
costs related to the Blood divestiture.
(5)
Interest expense, net, in the quarter and the nine months ended
April 30, 2015 includes the reversal of accrued interest of $4,170
($2,648 after pro forma tax effect of $1,522) related to the
resolution of tax audits as described in footnote (4) above.
Interest expense, net, in the quarter and the nine months ended
April 30, 2014 includes the reversal of accrued interest of $1,478
($1,138 after pro forma tax effect of $340) related to the
resolution of foreign tax audits as described in footnote (4) above.
PALL CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited)
(Amounts in Thousands)
NINE MONTHS ENDED
APR. 30, 2015
APR. 30, 2014
Net cash provided by operating activities
$
360,397
$
342,164
Investing activities:
Acquisitions of businesses
(9,382 )
(195,262 )
Capital expenditures
(39,330 )
(50,301 )
Proceeds from sale of assets
2,213
5,618
Other
(9,790 )
(2,665 )
Net cash provided/(used) by investing activities
(56,289 )
(242,610 )
Financing activities:
Dividends paid
(95,321 )
(88,596 )
Notes payable and long-term borrowings/(repayments)
299,462
130,520
Purchase of treasury stock
(304,105 )
(250,000 )
Other
10,463
25,141
Net cash used by financing activities
(89,501 )
(182,935 )
Cash flow for period
214,607
(83,381 )
Cash and cash equivalents at beginning of year
964,110
936,886
Effect of exchange rate changes on cash
(84,213 )
17,369
Cash and cash equivalents at end of period
$
1,094,504
$
870,874
Free cash flow:
Net cash provided by operating activities
$
360,397
$
342,164
Less capital expenditures
39,330
50,301
Free cash flow
$
321,067
$
291,863
PALL CORPORATION
SUMMARY SEGMENT PROFIT BY SEGMENT
(Unaudited)
(Dollar Amounts in Thousands)
THIRD QUARTER ENDED
NINE MONTHS ENDED
APR. 30, 2015
APR. 30, 2014
APR. 30, 2015
APR. 30, 2014
Life Sciences
Sales
$
364,321
$
368,835
$
1,075,241
$
1,041,011
Cost of sales
162,391
166,394
477,819
456,428
Gross profit
201,930
202,441
597,422
584,583
% of sales
55.4 %
54.9 %
55.6 %
56.2 %
Selling, general and administrative expenses
93,529
97,391
283,964
284,441
% of sales
25.7
26.4
26.4
27.3
Research and development
14,490
16,711
44,185
47,902
Segment profit
$
93,911
$
88,339
$
269,273
$
252,240
% of sales
25.8 %
24.0 %
25.0 %
24.2 %
Industrial
Sales
$
316,824
$
313,610
$
976,190
$
948,182
Cost of sales
163,356
167,977
515,788
514,718
Gross profit
153,468
145,633
460,402
433,464
% of sales
48.4 %
46.4 %
47.2 %
45.7 %
Selling, general and administrative expenses
87,376
86,350
259,599
259,753
% of sales
27.6 %
27.5 %
26.6 %
27.4 %
Research and development
9,535
9,933
29,075
26,988
Segment profit
$
56,557
$
49,350
$
171,728
$
146,723
% of sales
17.9 %
15.7 %
17.6
%
15.5 %
Consolidated:
Segment profit
$
150,468
$
137,689
$
441,001
$
398,963
Corporate services group
16,778
17,304
48,610
48,034
Operating profit
133,690
120,385
392,391
350,929
% of sales
19.6 %
17.6 %
19.1 %
17.6 %
ROTC
14,131
11,542
34,905
29,910
Interest expense, net
1,270
4,747
14,210
15,919
Earnings before income taxes
$
118,289
$
104,096
$
343,276
$
305,100
PALL CORPORATION
SUPPLEMENTAL SEGMENT SALES INFORMATION BY PRODUCT/MARKET AND
REGION
(Unaudited)
(Dollar Amounts in Thousands)
EXCHANGE
% CHANGE
RATE
IN LOCAL
THIRD QUARTER ENDED
APR. 30, 2015
APR. 30, 2014
% CHANGE
IMPACT
CURRENCY
Life Sciences
|-------------- Increase/(Decrease) -------------|
By Product/Market:
BioPharmaceuticals
$
244,531
$
235,724
3.7
$
(28,890 )
16.0
Food & Beverage
41,616
46,097
(9.7 )
(6,898 )
5.2
Medical
51,761
56,212
(7.9 )
(6,696 )
4.0
Total Consumables
337,908
338,033
--
(42,484 )
12.5
Systems
26,413
30,802
(14.2 )
(3,732 )
(2.1 )
Total Life Sciences
$
364,321
$
368,835
(1.2 )
$
(46,216 )
11.3
By Region:
Americas
$
119,740
$
108,612
10.2
$
(1,831 )
11.9
Europe
173,909
188,073
(7.5 )
(38,238 )
12.8
Asia
70,672
72,150
(2.0 )
(6,147 )
6.5
Total Life Sciences
$
364,321
$
368,835
(1.2 )
$
(46,216 )
11.3
Industrial
By Product/Market:
Process Technologies
$
134,452
$
137,348
(2.1 )
$
(15,170 )
8.9
Aerospace
55,277
54,088
2.2
(3,440 )
8.6
Microelectronics
78,519
74,403
5.5
(6,166 )
13.8
Total Consumables
268,248
265,839
0.9
(24,776 )
10.2
Systems
48,576
47,771
1.7
(5,163 )
12.5
Total Industrial
$
316,824
$
313,610
1.0
$
(29,939 )
10.6
By Region:
Americas
$
119,704
$
107,087
11.8
$
(2,321 )
13.9
Europe
88,958
88,635
0.4
(19,521 )
22.4
Asia
108,162
117,888
(8.3 )
(8,097 )
(1.4 )
Total Industrial
$
316,824
$
313,610
1.0
$
(29,939 )
10.6
PALL CORPORATION
SUPPLEMENTAL SEGMENT SALES INFORMATION BY PRODUCT/MARKET AND
REGION
(Unaudited)
(Dollar Amounts in Thousands)
EXCHANGE
% CHANGE
RATE
IN LOCAL
NINE MONTHS ENDED
APR. 30, 2015
APR. 30, 2014
% CHANGE
IMPACT
CURRENCY
Life Sciences
|-------------- Increase/(Decrease) -------------|
By Product/Market:
BioPharmaceuticals
$
702,557
$
650,467
8.0
$
(50,810 )
15.8
Food & Beverage
127,969
133,720
(4.3 )
(13,329 )
5.7
Medical
159,198
168,589
(5.6 )
(11,638 )
1.3
Total Consumables
989,724
952,776
3.9
(75,777 )
11.8
Systems
85,517
88,235
(3.1 )
(6,373 )
4.1
Total Life Sciences
$
1,075,241
$
1,041,011
3.3
$
(82,150 )
11.2
By Region:
Americas
$
339,815
$
308,701
10.1
$
(5,329 )
11.8
Europe
526,763
536,828
(1.9 )
(64,438 )
10.1
Asia
208,663
195,482
6.7
(12,383 )
13.1
Total Life Sciences
$
1,075,241
$
1,041,011
3.3
$
(82,150 )
11.2
Industrial
By Product/Market:
Process Technologies
$
410,780
$
402,090
2.2
$
(27,574 )
9.0
Aerospace
172,424
166,181
3.8
(5,823 )
7.3
Microelectronics
227,910
222,795
2.3
(12,684 )
8.0
Total Consumables
811,114
791,066
2.5
(46,081 )
8.4
Systems
165,076
157,116
5.1
(11,760 )
12.6
Total Industrial
$
976,190
$
948,182
3.0
$
(57,841 )
9.1
By Region:
Americas
$
362,729
$
315,505
15.0
$
(5,154 )
16.6
Europe
272,346
284,136
(4.1 )
(34,716 )
8.1
Asia
341,115
348,541
(2.1 )
(17,971 )
3.0
Total Industrial
$
976,190
$
948,182
3.0
$
(57,841 )
9.1
PALL CORPORATION
SUPPLEMENTAL ORGANIC SALES GROWTH INFORMATION BY SEGMENT
(Unaudited)
(Dollar Amounts in Thousands)
EXCHANGE
% CHANGE
RATE
IN LOCAL
THIRD QUARTER ENDED
APR. 30, 2015
APR. 30, 2014
% CHANGE
IMPACT
CURRENCY
|-------------- Increase/(Decrease) -------------|
Life Sciences:
Organic
$
364,321
$
368,835
(1.2 )
$
(46,216 )
11.3
Acquisitions
--
--
--
Total Life Sciences Sales
$
364,321
$
368,835
(1.2 )
$
(46,216 )
11.3
Industrial:
Organic
$
303,450
$
313,610
(3.2 )
$
(29,939 )
6.3
Acquisitions
13,375
--
--
Total Industrial Sales
$
316,825
$
313,610
1.0
$
(29,939 )
10.6
Total Pall:
Organic
$
667,771
$
682,445
(2.2 )
$
(76,155 )
9.0
Acquisitions
13,375
--
--
Total Pall Sales
$
681,146
$
682,445
(0.2 )
$
(76,155 )
11.0
EXCHANGE
% CHANGE
RATE
IN LOCAL
NINE MONTHS ENDED
APR. 30, 2015
APR. 30, 2014
% CHANGE
IMPACT
CURRENCY
|-------------- Increase/(Decrease) -------------|
Life Sciences:
Organic
$
1,049,342
$
1,041,011
0.8
$
(82,150 )
8.7
Acquisitions
25,899
--
Total Life Sciences Sales
$
1,075,241
$
1,041,011
3.3
$
(82,150 )
11.2
Industrial:
Organic
$
930,823
$
948,182
(1.8 )
$
(57,841 )
4.3
Acquisitions
45,368
Total Industrial Sales
$
976,191
$
948,182
3.0
$
(57,841 )
9.1
Total Pall:
Organic
$
1,980,165
$
1,989,193
(0.5 )
$
(139,991 )
6.6
Acquisitions
71,267
--
$
--
Total Pall Sales
$
2,051,432
$
1,989,193
3.1
$
(139,991 )
10.2

http://cts.businesswire.com/ct/CT?id=bwnews&sty=20150521006494r1&sid=cmtx6&distro=nx&lang=en

View source version on businesswire.com: http://www.businesswire.com/news/home/20150521006494/en/

SOURCE: Pall Corporation

Pall Corporation
R. Brent Jones
Interim Chief Financial Officer
Telephone: 516-801-9871