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Mettler-Toledo Reports Fourth Quarter 2015 Results

Published: Feb 05, 2016

COLUMBUS, Ohio, Feb. 4, 2016 /PRNewswire/ -- Mettler-Toledo International Inc. (NYSE: MTD) today announced fourth quarter results for 2015.  Provided below are the highlights:

  • Sales in local currency increased 3% in the quarter compared with the prior year.  Reported sales decreased 3% as currency reduced sales growth by 6% in the quarter.
  • Net earnings per diluted share as reported (EPS) were $4.44, compared with $4.17 in the prior- year period.  Adjusted EPS was $4.65, an increase of 10% over the prior-year amount of $4.24.  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. 

Fourth Quarter Results

Olivier Filliol, President and Chief Executive Officer, stated, "Market conditions throughout the world developed as expected and we continued to execute very well.  Sales growth in the Americas was strong with broad-based growth in most product lines.  Europe had good growth in laboratory instruments.  Sales declined in China and Brazil, while sales growth in our other emerging markets was solid overall.  We had strong margin expansion in the quarter and, despite currency headwinds, achieved solid EPS growth.  Finally, we had good cash flow generation in the quarter and for the full year." 

EPS in the quarter was $4.44, compared with the prior-year amount of $4.17.  Adjusted EPS was $4.65, an increase of 10% over the prior-year amount of $4.24.  

Sales were $673.5 million, a 3% increase in local currency sales, compared with $697.4 million in the prior-year quarter.  Reported sales decreased 3% as currency reduced sales growth by 6% in the quarter.  By region, local currency sales increased 9% in the Americas, were flat in Europe and declined 2% in Asia / Rest of World as compared to the prior-year period.  Adjusted operating income amounted to $182.2 million, a 3% increase from the prior-year amount of $176.3 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 was $137.0 million, compared with $140.7 million in the prior-year quarter.

Full Year Results

EPS in 2015 was $12.48, compared with the prior-year amount of $11.44. 

To read full press release, please click here.

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