Pall Corp. - Special Call

Pall Corporation (PLL)

April 30, 2012 10:00 am ET

Executives

Lawrence D. Kingsley - Chief Executive Officer, President and Director

Lisa McDermott - Chief Financial Officer and Treasurer

Analysts

Jeffrey J. Zekauskas - JP Morgan Chase & Co, Research Division

Kevin R. Maczka - BB&T Capital Markets, Research Division

S. Brandon Couillard - Jefferies & Company, Inc., Research Division

Christopher S. Parkinson - Crédit Suisse AG, Research Division

Jonathan P. Groberg - Macquarie Research

David L. Rose - Wedbush Securities Inc., Research Division

Brian Drab - William Blair & Company L.L.C., Research Division

Tracy Marshbanks - First Analysis Securities Corporation, Research Division

Richard C. Eastman - Robert W. Baird & Co. Incorporated, Research Division

Presentation

Operator

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Good day, ladies and gentlemen. Welcome to Pall Corp.'s Investor Update Conference Call. My name is Holly, and I will be your coordinator for today. Today's call is being recorded and simultaneously webcast. [Operator Instructions]

We'd like to remind you that the company's press release announcing its agreement with Haemonetics is available at www.pall.com. Management remarks this morning will include forward-looking statements. Please refer to Slide 2 or request a copy of the specific wording of this qualification of the company's remarks.

At this time, I will turn the call over to Mr. Larry Kingsley, Pall Corp.'s President and CEO. Please go ahead, sir.

Lawrence D. Kingsley

Good morning, and thank you for joining us here today. I'm with Lisa McDermott, our CFO. Yesterday, we announced that we entered into a definitive agreement to sell certain assets of our blood filtration business for approximately $550 million, and the purpose of our call today is to review what we're selling. That's including the economics and the strategic rationale for the transaction and review the impact to the P&L and the actions that we're taking to offset EPS dilution in fiscal year '13 and finally, to address our current thinking and the options for the use of the proceeds associated with the transaction. And I'll refer you to the presentation slides that Holly just mentioned. Following that though, we'll be happy to take your questions.

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