Mettler-Toledo International Inc. announced unaudited consolidated earnings results for the first quarter ended March 31, 2013. For the quarter, the company reported net sales of $524,353,000 compared to $535,400,000 a year ago. Earnings before taxes were $69,136,000 compared to $69,308,000 a year ago. Net earnings were $52,544,000 or $1.69 per diluted common share compared to $52,327,000 or $1.62 per diluted common share a year ago. Adjusted operating income was $85,433,000 compared to $80,794,000 a year ago. Net cash provided by operating activities was $23,672,000 compared to $20,797,000 a year ago. Purchase of property, plant and equipment was $19,018,000 compared to $18,529,000 a year ago. Free cash flow was $9,592,000 compared to $4,213,000 a year ago. Adjusted EPS, diluted was $1.84 compared to $1.66 a year ago. Sales in local currency decreased by 2% in the quarter compared with the prior year. Reported sales also decreased 2%, as currency had no impact on sales in the quarter. Adjusted EPS is a non-GAAP measure and excludes purchased intangible amortization, discrete tax items, restructuring charges and other one-time items. The company updated its outlook for 2013 and noted that uncertainty in demand exists in most of its markets, which makes forecasting difficult. The management anticipates that local currency sales growth in 2013 will be in the range of 1% to 3%, with growth stronger in the second half of the year. This sales growth will result in Adjusted EPS in the range of $10.40 to $10.60, an increase of 8% to 10%. This compares to previous guidance of Adjusted EPS in the range of $10.30 to $10.55. The company continued to assume a tax rate of 24%. The company expects capex of around $90 million. The company stated that, based on its assessment of market conditions, management anticipates that local currency sales growth for the second quarter of 2013 will be in the range of 0% to 2%, and Adjusted EPS will be in the range of $2.30 to $2.35, an increase of 7% to 9%.

Mettler-Toledo International Inc. Presents at UBS Global Healthcare Conference, May-21-2013 02:30 PM. Venue: Sheraton New York Hotel, 811 Seventh Avenue, New York, New York, United States. Speakers: William P. Donnelly, Chief Financial Officer, Principal Accounting Officer and Group Vice President.

Mettler-Toledo International Inc., Q1 2013 Earnings Call, May 02, 2013