Wise men say that you can deep-fry nearly anything. Well, the same goes for filtering, which is what Pall's
Such clever monikers may be one of many tactics Pall uses to differentiate itself from competitors. It has to scrap for market share with the filtration arms of giants like Siemens
With so many fish in the fluid processing sea, Pall's owners should take pleasure in its continued sales growth, though it is expected to slow: Management capped full-year growth expectations at 4% in local currency. Last quarter's results were reported as follows.
Pall |
Sales |
Net Income |
Earnings Per Share |
---|---|---|---|
Q1 2009 |
$578 |
$43 |
$0.36 |
Q1 2008 |
$561 |
$36 |
$0.29 |
Growth |
3.0% |
19.3% |
24.1% |
The strengthening dollar lowered Pall's first-quarter sales by about $7 million, or 1.3%. Next quarter's top line should suffer more because of the precipitous weakening of the euro and British pound toward the end of its first quarter.
Foolish takeaway
Pall appears to be a solid company with management that is prepared to guide it through the oncoming economic onslaught. However, its market price seems to be in tune with its prospects. If it takes a walloping down the line, I might be persuaded to reconsider. Add it to the watch list, and keep looking.
Further reading: