Thursday, Mettler-Toledo International Inc. (MTD) reported third-quarter net income of $41.5 million or $1.21 per share, compared to net income of $52.7 million or $1.52 per share in the same quarter last year.
On an adjusted basis, net income was $1.36 per share, down 6% from $1.44 per share in the year ago quarter.
On average, eight analysts polled by Thomson Reuters expected the company to earn $1.18 per share for the quarter. Analysts' estimates typically exclude special items.
Sales for the quarter were $435.7 million, down from $509.1 million in the comparable quarter last year. Analysts expected the company to report revenue of $418.27 million for the quarter.
Looking ahead to the fourth quarter, the company expects a local currency sales to decline in the range of -6% to -7%. On an adjusted basis, earnings are expected in the range of $1.90 - $2.00 per share. Analysts currently anticipate the company to earn $1.88 per share for the quarter.
For the full year 2009, the company expects results in a local currency sales to decline of approximately -10%. On an adjusted basis, earnings are expected in the range of $5.39 - $5.50 per share, compared to previous guidance of $4.92 - $5.42 per share. Analysts currently anticipate the company to earn $5.21 per share.
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