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Mettler-Toledo International's CEO Discusses Q1 2012 Results - Earnings Call Transcript

Stocks in this article: MTD

Let me summarize the Safe Harbor language, which is outlined on Page 1 of the presentation. Statements in this presentation, which are not historical facts, constitute forward-looking statements within the meaning of the U.S. Securities Act of 1933 and the U.S. Securities Exchange Act of 1934. These statements involve risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to be materially different from those expressed or implied by any forward-looking statements.

For a discussion of these risks and uncertainties, please see the discussion in our recent Form 8-K. All of the forward-looking statements are qualified in their entirety by reference to the factors discussed under the caption Factors Affecting our Future Operating Results and in the Business and Management's Discussion and Analysis of Financial Condition and Results of Operations section of our Form 10-K.

One other item. On today's call, we may use non-GAAP financial measures. More detailed information with respect to the use of and differences between non-GAAP financial measures and the most directly comparable GAAP measures is provided in the Form 8-K.

I will now turn the call over to Olivier.

Olivier A. Filliol

Thank you, Mary. Good evening. I am pleased to welcome you to the call. I will start with the summary of the quarter and then Bill will provide details on our financial results and our updated guidance. I will then provide an update on some of our growth initiatives in 2012. As always, we will have time for Q&A at the end.

The highlights for the quarter are on Page 2 of the presentation. We are very pleased with our local currency sales growth of 8%, which was strong and better than expected. We achieved this despite slower growth in our markets and challenging conditions in Europe. In addition, last year's sales growth is particularly strong. Adjusted operating profit increased 10% and adjusted EPS increased 14%. Overall, we are very pleased with these solid results in the start of the year.

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