Cash flow from operations was $91.0 million, compared with $91.3 million in the prior-year quarter.
Six Month ResultsEPS for the six month period was $3.93, compared with the prior-year amount of $3.54. Adjusted EPS was $4.19, an increase of 10% over the prior-year amount of $3.80.Sales for the six months were $1.103 billion, which is consistent with prior year sales of $1.106 billion in local currency sales. Reported sales were also consistent with the prior year as currency did not impact sales growth in the six month period. By region, local currency sales increased 3% in the Americas, decreased 1% in Europe and decreased 3% in Asia / Rest of World. Adjusted operating income amounted to $191.8 million, a 5% increase from the prior-year amount of $181.9 million. Adjusted operating income is a non-GAAP measure, and a reconciliation to earnings before taxes is provided in the attached schedules.
Cash flow from operations for the six month period was $114.6 million, compared with $112.0 million in the prior-year period.
Cost Control MeasuresAs part of the cost control measures announced in the second quarter of 2012, the Company recorded pre-tax restructuring charges of $3.2 million in the quarter and $8.2 million year to date.
Increase to Share Repurchase ProgramThe Company announced that the Board of Directors has authorized a $750 million increase to the share repurchase program. The Company currently has a $2.25 billion stock repurchase program of which $1.96 billion has been utilized. Any amount remaining under the existing program will be incorporated into the new authorization. Filliol commented, "Our share repurchase plan has provided strong returns for our shareholders over many years and we want to continue the program. We are confident in our future growth prospects and our balance sheet and cash flow generation remain very strong." The Company exp
|SOURCE Mettler-Toledo International Inc.|
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