(RTTNews) - Wednesday, Pall Corp. (PLL: News ), a provider of fluid management solutions, reported a decline in sales for its first quarter due to depression in its industrial end markets. The company also announced that its Board has decided not to renew its Share Rights Plan, which expires on December 1, 2009.

The company said sales in the first quarter of fiscal year 2010 were $546.9 million, a decrease of 5.4% compared to the first quarter of fiscal year 2009. On average, six analysts polled by Thomson Reuters expected the company to report revenues of $570.67 million for the quarter.

Sales for the quarter in local currency decreased 6.9%. Foreign currency translation helped increase reported sales by $8.8 million or 1.5% in the quarter.

Total Life Sciences segment sales grew 8.4% to $238.9 million. In local currency sales grew at 7.1%.

Medical sales in local currency increased 2.6% in the quarter. Blood Filtration grew 4% in local currency helped by independent blood centers in the U.S. The Hospital Critical Care market rose 16.8% in local currency, with robust sales of Pall-Aquasafe water filters to hospitals in Europe.

BioPharmaceuticals sales advanced 10.3% in the quarter with growth in all geographies. Sales to the Pharmaceutical market advanced 9.8% driven by strong consumables growth in all geographies. The vaccine market remained strong.

Total industrial segment sales declined 13.9% to $308 million. In local currency sales declined 15.5%.
Energy, Water & Process Technologies sales for the quarter were down 12.3% in local currency at $194.5 million. Energy-related markets were flat and sales in Municipal Water, Food & Beverage and Industrial Manufacturing were down.

Aerospace & Transportation sales fell 21.6% in local currency to $57 million in the quarter. Commercial Aerospace declined 8.5%, reflecting a reduction in flights and production of new airplanes. Military Aerospace sales fell 29.8% compared to a very strong quarter a year ago. Sales in the Transportation market were down on continued weakness in mobile equipment production. Microelectronics sales declined 19.2% over the prior year.

Eric Krasnoff, chairman and chief executive officer said, "Many of the industrial end markets Pall serves continue to be depressed. Pall sales to these markets are down 15 1/2% compared to a year ago."

Krasnoff said, "We are prudently managing the company through the current environment while continuing to invest and execute our long-term growth strategies. We remain confident in the longer-term prospects and ongoing strategies to generate sustainable, profitable growth."

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