June 8, 2010 / 10:35 PM / 9 years ago

UPDATE 1-Pall Corp reports jump in quarterly results

* Posts EPS $0.58/share vs year-ago $0.37

* Industrial recovery underway — CEO

NEW YORK, June 8 (Reuters) - Diversified U.S. manufacturer Pall Corp PLL.N posted a 57 percent rise in profit on recovering demand for its filters, used in applications from drug manufacturing to municipal water utilities.

The company recorded net income of $69.7 million, or 58 cents per share for its fiscal third quarter, compared with profit of $44.2 million, or 37 cents per share, a year earlier.

“The expected industrial recovery appears to now be firmly underway,” said Chief Executive Eric Krasnoff in a statement.

Pall’s rivals include Millipore, a U.S. company acquired earlier this year by German drugmaker Merck KGaA (MRCG.DE). (Reporting by Elinor Comlay; editing by Andre Grenon)

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