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Mettler-Toledo International Inc. Reports Third Quarter 2011 Results
Date:11/3/2011

COLUMBUS, Ohio, Nov. 3, 2011 /PRNewswire/ -- Mettler-Toledo International Inc. (NYSE: MTD) today announced third quarter results for 2011.  Provided below are the highlights:

  • Sales in local currency increased by 15% in the quarter compared with the prior year.  Reported sales increased 23%, which includes an 8% benefit from currency.

  • Net earnings per diluted share as reported (EPS) were $2.09, compared with $1.82 in the third quarter of 2010.  Adjusted EPS was $2.01, an 18% increase over the prior-year amount of $1.71.  Adjusted EPS is a non-GAAP measure and excludes purchased intangible amortization, discrete tax items, restructuring charges and other one-time items.  A reconciliation to EPS is provided on the last page of the attached schedules.  

  • Third Quarter ResultsOlivier Filliol, President and Chief Executive Officer, stated, "Business demand was strong and broad-based in the quarter, with most product lines and geographies achieving excellent sales growth.   Despite tough currency headwinds on earnings, we had very good growth in operating profit and EPS."

    EPS was $2.09, compared with the prior-year amount of $1.82.  Adjusted EPS was $2.01, an increase of 18% over the prior-year amount of $1.71.  

    Sales were $601.1 million, a 15% increase in local currency sales, compared with $490.2 million in the prior year.  Reported sales growth was 23%, which included an 8% benefit from currency.  By region, local currency sales increased 16% in Europe, 10% in the Americas and 21% in Asia / Rest of World.  Adjusted operating income amounted to $98.5 million, a 15% increase from the prior-year amount of $85.8 million.  Adjusted operating income is a non-GAAP measure, and a reconciliation to earnings before taxes is provided in the attached schedules.

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    SOURCE Mettler-Toledo International Inc.
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