Mettler-Toledo International Inc. (MTD) Thursday said its first-quarter profit increased to $52.3 million or $1.62 per share from $46.8 million or $1.41 per share in the prior-year quarter.
Adjusted earnings, which excludes special items, was $1.66, up 14 percent from $1.45 last year.
On average, 11 analysts polled by Thomson Reuters expected the company to earn $1.62 per share for the first quarter. Analysts' estimates typically exclude one-time items.
First-quarter sales in local currency increased 8 percent to $535.4 million from $498.8 million in the prior-year quarter. Analysts expected revenues of $526.91 million for the period.
Looking ahead to the second quarter, the company forecast adjusted earnings in a range of $2.10 to $2.15 per share. Analysts currently expect second-quarter earnings of $2.18 per share.
For fiscal year 2012, the company re-affirmed its adjusted earnings guidance range of $9.20 to $9.50 per share. Analysts currently expect the company to earn $9.42 per share for the fiscal year 2012.
For comments and feedback: editorial@rttnews.com