East Hills, NY (October 1, 2007) - - Pall Corporation (NYSE: PLL) today confirmed that it will delay the filing of the Form 10-K for its fiscal year ended July 31, 2007 beyond the permitted extension of the prescribed due date of October 16, 2007 pending completion of the independent inquiry being conducted by the Audit Committee of its Board of Directors into certain tax and financial reporting matters. Pall previously announced its expectation that the filing would be delayed.
Separately, Pall Corporation announced that it will report select operating highlights for its fourth quarter and fiscal year ended July 31, 2007 on Thursday, October 4, 2007, after 5:00 pm ET.
A conference call to review these highlights will be broadcast live over the Internet at 8.30 am ET on Friday, October 5, 2007. Eric Krasnoff, Chairman, CEO & President; and Lisa McDermott, CFO, will host the call.
This call will be webcast and can be accessed on Pall Corporation's web site at www.pall.com/investor. The webcast will be archived for 30 days. Investors can also subscribe to the RSS feed to be notified of Pall's upcoming investor event schedule at www.pall.com/rss.
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's headquarters are in East Hills, New York, with extensive operations throughout the world. For more information visit Pall at http://www.pall.com/.
Cautionary Statement Regarding 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; risks arising from potential material weaknesses in our control environment; potential adverse effects to our financial condition, results of operations or prospects as a result of any restatement of prior period financial statements; risks associated with our inability to satisfy covenants under our syndicated credit facility or to obtain waivers of compliance with those covenants or waivers of defaults under our debt and other agreements; potential adverse effects if we are required to recognize adverse tax- or accounting-related developments other than those previously disclosed; risks relating to litigation or regulatory inquiries associated with the restatement of prior period financial statements or other related matters; 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.