Garden City, NY (November 15, 2006) - - Pall Corporation (NYSE:PLL) announced at its Annual Meeting of Shareholders today that the Board of Directors approved a $0.01 per share increase in the quarterly cash dividend to $0.12 per share. The increase will take effect as of the dividend that will be declared on January 11, 2007. The shareholder record date and payment date will be set at that time. The Board last increased the dividend on January 19, 2006, from $0.10 to $0.11 per share.
The Board also authorized an additional $250 million share repurchase program with no expiration date.
Also at the annual meeting of shareholders, Pall management reiterated that it continues to expect earnings per share for fiscal 2007 to be in the range of $1.45 to $1.60. The company will release fiscal year 2007 first quarter results on December 4, 2006, after the market closes.
About Pall Corporation Pall Corporation is the global leader in the rapidly growing field of filtration, separation and purification. Pall is organized into two businesses: Life Sciences and Industrial. These businesses provide leading-edge products to meet the demanding needs of customers in biotechnology, pharmaceutical, transfusion medicine, energy, electronics, municipal and industrial water purification, aerospace, transportation and broad industrial markets. Total revenues for fiscal year 2006 were $2.0 billion. The Company headquarters is in East Hills, New York with extensive operations throughout the world. For more information visit Pall at www.pall.com.
Forward Looking Statements Forward-looking statements contained in this and other written and oral reports are based on current Company expectations and are subject to risks and uncertainties, which could cause actual results to differ materially. All statements regarding future performance, earnings projections, earnings guidance, events or developments are forward-looking statements. Such risks and uncertainties include, but are not limited to: changes in product mix and product pricing particularly as we expand our systems business in which we experience significantly longer sales cycles and less predictable revenue with no certainty of future revenue streams from related consumable product offerings and services; increases in costs of manufacturing and operating costs including energy and raw materials; the Company's ability to achieve the savings anticipated from cost reduction and margin improvement initiatives including the timing of completion of the facilities rationalization initiative; fluctuations in foreign currency exchange rates and interest rates; regulatory approval and market acceptance of new technologies; changes in business relationships with key customers and suppliers including delays or cancellations in shipments; success in enforcing patents and protecting proprietary products and manufacturing techniques; successful completion or integration of acquisitions; domestic and international competition in the Company's global markets; and global and regional economic conditions and legislative, regulatory and political developments. The Company makes these statements as of the date of this disclosure and undertakes no obligation to update them.