* Q1 EPS ex-items 40 cents, matches Wall Street view
* Q1 sales down 5.4 percent
* Back to giving FY view, sees pro-forma EPS $2.02-$2.19
* Shares up 8.3 percent in after-hours trade (Recasts lead, updates with CEO comment and FY estimates)
SEATTLE, Dec 9 (Reuters) - Diversified U.S. manufacturer Pall Corp PLL.N resumed issuing full-year earnings outlook on Wednesday with a forecast for the current year that could top analysts’ expectations, and its shares rose 8.3 percent in after-hours trading.
The company also posted a fiscal first-quarter profit that matched Wall Street’s expectations, as cost controls and a lower provision for income tax helped it combat a sales drop.
Net income rose to $66.9 million, or 56 cents per share in the fiscal first quarter ended Oct. 31, from $43.1 million or 36 cents per share, a year earlier.
Excluding items, its profit of 40 cents per share was the same as analysts’ average expectation, according to Thomson Reuters I/B/E/S.
Port Washington, New York-based Pall said quarterly sales fell 5.4 percent to $546.9 million.
The company now expects pro forma earnings per share of $2.02 to $2.19 for the fiscal year, which includes a 17 cent a share benefit from foreign currrency translation.
Analysts expect full-year earnings of $1.90 per share.
The company’s chief executive Eric Krasnoff said its industrial unit has begun to stabilize after a tough first quarter. The unit has “upside opportunity” if industrial markets rebound over the next half year as expected by economists, he said in the statement.
The company’s shares rose in after-hours trade to $33.99 from a closing price of $31.39 on the New York Stock Exchange. (Reporting by Aarthi Sivaraman; editing by Carol Bishopric)