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MTD · Mettler-Toledo International

50 filings

10-Q

MTD 10-Q Quarterly Reports

Mettler-Toledo International - 50 quarterly reports

Filing record · 2016–202610-K1110-Q328-K94

MTD filed 11 annual reports (10-K), 32 quarterly reports (10-Q) and 94 current reports (8-K) between 2016 and 2026.

  1. FY2016 annual report10-K · Feb ’17Feb ’17
  2. Leadership change8-K · Dec ’19Dec ’19
  3. Material agreement8-K · Dec ’21Dec ’21
  4. Leadership change8-K · Oct ’25Oct ’25
  1. 2026-Q2

    Mettler-Toledo International Quarterly Report for Q2 Ended Jun 30, 2026

    Mettler-Toledo International Inc. reported net sales of $1,027.3 million for the three months ended June 30, 2026, up from $983.2 million a year earlier, and net sales of $1,974.4 million for the six months, up from $1,866.97 million. Net earnings were $232.9 million for the quarter versus $202.3 million, and diluted EPS was $11.55 versus $9.76. Results include a one-time benefit of $52.4 million from U.S. IEEPA tariff refunds that reduced cost of sales, partly offset by $27.8 million of tariff-related customer refunds that reduced net sales. Excluding the net tariff effects, the filing states that gross profit as a percentage of net sales was 59.3% for the three months, compared with 59.0% a year earlier. Gross profit was $650.2 million for the quarter, and operating expenses rose modestly, with SG&A of $263.3 million and R&D of $53.0 million. Cash provided by operating activities was $450.2 million for the six months, versus $430.8 million a year earlier, and the company repurchased $412.5 million of common stock during the period. Total debt was $2.11 billion at June 30, 2026, and the company had $562.7 million of additional borrowing capacity under its Credit Agreement and $51.4 million of cash. Shareholders' equity was $12.8 thousand (in thousands on the balance sheet, i.e., $12,823 thousand) at June 30, 2026, compared with a deficit of $23.6 million at December 31, 2025, reflecting share repurchases. Management notes that market conditions have improved, but flags continuing uncertainty from global trade disputes and tariffs, the conflicts in Iran and the Middle East, and Ukraine. The filing states that new Section 301 tariffs were imposed on July 23, 2026, including a 12.5% rate on imports from Switzerland and China and a 10% rate on imports from the European Union, United Kingdom, and non-USMCA imports from Mexico.

    Jul 31, 2026
  2. 2026-Q1

    Mettler-Toledo International Quarterly Report for Q1 Ended Mar 31, 2026

    Mettler-Toledo International Inc. reported net sales of $947.1 million for the three months ended March 31, 2026, up from $883.7 million a year earlier, with net earnings of $169.5 million compared with $163.6 million. Diluted earnings per share were $8.33 versus $7.81. Gross profit was $555.8 million, or 58.7% of net sales, down from 59.5% in the prior-year period, which the company attributes primarily to higher tariff costs, unfavorable foreign currency, and business mix, partially offset by favorable price realization and benefits from its SternDrive program. Sales rose 7% in U.S. dollars and 3% in local currencies, and growth excluding 2025 acquisitions was 1% in local currencies. Cash provided by operating activities was $139.8 million, down from $194.4 million, which the company primarily attributes to the timing of income tax payments. The company repurchased 152,963 shares for $206.3 million during the quarter and had $3.5 billion of remaining share repurchase authorization. Total debt was $2.23 billion at March 31, 2026, with $453.3 million of additional borrowings available under its Credit Agreement, and cash and cash equivalents of $60.6 million. Total shareholders' equity was a deficit of $41.9 million. The filing also discusses a $53 million tariff refund claim related to IEEPA tariffs invalidated by the U.S. Supreme Court in February 2026. These potential refunds are unrecognized gain contingencies, and a significant portion is expected to be passed to customers. The company also cites ongoing uncertainty from global trade tariffs and the conflicts involving Iran and the Middle East.

    May 8, 2026
  3. 2025-Q3

    Mettler-Toledo International Quarterly Report for Q3 Ended Sep 30, 2025

    Mettler-Toledo International Inc. reported third-quarter 2025 total net sales of $1,029,699 thousand (about $1.03 billion), up from $954,535 thousand in the prior-year quarter, and net earnings of $217,493 thousand versus $211,516 thousand. Diluted earnings per share were $10.57, compared with $9.96. For the nine months, net sales were $2,896,664 thousand (about $2.90 billion) versus $2,827,234 thousand, while net earnings declined to $583,428 thousand from $610,839 thousand, largely because the prior-year period included a non-cash discrete tax benefit of $23 million. Management states that net sales rose 6% in local currencies for the quarter and 2% for the nine months, and that gross profit as a percentage of net sales fell to 59.2% for the quarter from 60.0%, reflecting increased tariff costs and unfavorable business mix. The filing highlights growing tariff exposure. Management estimates costs before mitigation of approximately $50 million in 2025 from incremental tariffs and says it is implementing actions to fully offset the current incremental tariffs in 2026. Balance sheet changes include long-term debt rising to $2,146,249 thousand from $1,831,265 thousand at year-end 2024, and total shareholders' equity remaining negative at $(249,198) thousand. Cash from operations was $730.2 million for the nine months, and the company repurchased $656.2 million of shares during that period. In November 2025, the Board authorized an additional $2.75 billion for the share repurchase program, which had $1.1 billion of remaining availability at September 30, 2025.

    Nov 7, 2025
  4. 2025-Q2

    Mettler-Toledo International Quarterly Report for Q2 Ended Jun 30, 2025

    Mettler-Toledo International Inc. reported net sales of $983.2 million for the three months ended June 30, 2025, up from $946.8 million a year earlier, and $1.87 billion for the six months, essentially flat versus $1.87 billion in the prior-year period. Net earnings were $202.3 million for the quarter, compared with $221.8 million in the second quarter of 2024, and diluted earnings per share were $9.76 versus $10.37. For the six months, net earnings were $365.9 million, or $17.56 diluted EPS, compared with $399.3 million and $18.60 a year earlier. The company attributed the margin pressure largely to tariffs; the filing estimates the annualized cost of incremental 2025 tariffs at approximately $95 million, and gross margin fell to 59.0% of sales from 59.7% in the quarter. The effective tax rate rose to 18.6% for the quarter from 8.8%, reflecting a $23.0 million non-cash discrete tax benefit recorded in the prior-year period. Operating cash flow was $430.8 million for the six months, down from $447.5 million, which management attributed mainly to higher cash incentive payments of approximately $36 million. The company repurchased $437.5 million of stock in the six months, and total debt rose to $2.18 billion at June 30, 2025, from about $2.01 billion at December 31, 2024. Total shareholders' equity was a deficit of $258.8 million, and the company had $493.4 million of additional borrowing capacity under its Credit Agreement along with $61.8 million of cash.

    Aug 1, 2025
  5. 2025-Q1

    Mettler-Toledo International Quarterly Report for Q1 Ended Mar 31, 2025

    Mettler-Toledo International Inc. reported net sales of $883.7 million for the three months ended March 31, 2025, down from $925.9 million a year earlier. Sales decreased 5% in U.S. dollars and 3% in local currencies. The filing attributes much of the decline to the recovery of previously disclosed shipping delays from the prior year related to a new external European logistics provider, which reduced growth by approximately 6%. Excluding that impact, local currency sales increased 3%. Gross margin improved to 59.5% of net sales from 59.2%, reflecting favorable price realization and benefits from the SternDrive program. Net earnings fell to $163.6 million from $177.5 million, and diluted earnings per share were $7.81 compared with $8.24. Segment profit declined to $236.7 million from $267.3 million, and selling, general and administrative expenses rose to 27.5% of net sales from 25.3%. The company highlighted a significant new cost headwind from global trade disputes. It estimates the annualized cost increase from the incremental 2025 tariffs at approximately $115 million, and it expects gross margin for the rest of 2025 to be negatively affected. Management says it is implementing mitigation actions. The filing also notes that the recent escalation in trade disputes has increased economic uncertainty and the risk of recession in many countries. On the balance sheet, cash and cash equivalents were $64.3 million, with $679.8 million of additional borrowings available under the $1.35 billion Credit Agreement. Total debt was $2.07 billion, and shareholders' equity was negative at $(181,982) thousand. Operating cash flow was $194.4 million, up from $190.0 million, mainly due to favorable working capital. The company repurchased $218.7 million of stock during the quarter and has $1.5 billion remaining under its repurchase program. It also issued EUR 100 million of 3.8% senior notes due 2035 and used the proceeds to refinance existing debt and for general corporate purposes.

    May 2, 2025
  6. 2024-Q3

    Mettler-Toledo International Quarterly Report for Q3 Ended Sep 30, 2024

    Mettler-Toledo International Inc. reported net sales of $954.5 million for the three months ended September 30, 2024, up from $942.5 million a year earlier. Net earnings rose to $211.5 million from $201.6 million, and diluted earnings per share were $9.96 versus $9.21. Sales in U.S. dollars increased 1% for the quarter and were flat in local currencies. Service revenue increased 9% in both U.S. dollars and local currencies, while product revenue decreased 1%. Gross profit as a percentage of net sales improved to 60.0% from 59.4%, which the company attributed to favorable price realization and business mix. For the nine months, net sales were $2.8 billion compared with $2.9 billion in the prior-year period. Sales decreased 1% in U.S. dollars and were flat in local currencies. Net earnings were $610.8 million, up from $604.0 million, and diluted EPS was $28.55 versus $27.37. The nine-month reported tax rate of 15.5% reflects a non-cash discrete tax benefit of $23 million tied to the settlement of a tax audit. Management cited soft market demand in China, where nine-month net sales to external customers fell 17% in U.S. dollars. The company estimates that nine-month sales benefited by approximately 2% from the recovery of prior shipping delays. Cash generation and capital allocation remained central. Operating cash flow was $702.2 million for the nine months, compared with $684.4 million a year earlier. The company spent $637.5 million on share repurchases and had $1.9 billion remaining under its repurchase program. In May 2024 it entered into a $1.35 billion Credit Agreement, with $585.3 million of additional borrowings available at quarter-end and $71.6 million of cash on hand. Total debt was $2.08 billion, and the company stated it was in compliance with its debt covenants.

    Nov 8, 2024
  7. 2024-Q2

    Mettler-Toledo International Quarterly Report for Q2 Ended Jun 30, 2024

    Mettler-Toledo International Inc. reported net sales of $946.8 million for the three months ended June 30, 2024, down from $982.1 million a year earlier, while net earnings rose to $221.8 million from $213.9 million. For the six months, net sales were $1.87 billion versus $1.91 billion, and net earnings were $399.3 million versus $402.4 million. Management attributes the sales decline mainly to reduced market demand, particularly in China, where net sales to external customers fell 26% in U.S. dollars for the quarter. Gross profit margin improved to 59.7% for the quarter from 59.4%, reflecting favorable price realization and business mix. The quarter's earnings were supported by a lower reported tax rate of 8.8%, which includes a non-cash discrete tax benefit of $23.0 million from the settlement of a tax audit. Diluted earnings per share were $10.37 for the quarter versus $9.69 a year earlier, and $18.60 for the six months versus $18.15. Management also noted that net sales for the six months benefited by approximately 3% from the recovery of prior-year shipping delays tied to a European logistics provider. On the balance sheet, total debt was $2.06 billion at June 30, 2024, and the company entered into a new $1.35 billion Credit Agreement maturing in 2029, with $712.0 million of additional borrowings available. The company repurchased $425.0 million of common stock in the first half and had $2.1 billion of remaining repurchase authorization. Operating cash flow rose to $447.5 million from $420.1 million for the six months.

    Aug 2, 2024
  8. 2024-Q1

    Mettler-Toledo International Quarterly Report for Q1 Ended Mar 31, 2024

    Mettler-Toledo International Inc. reported flat net sales for the first quarter of 2024, at $925.9 million versus $928.7 million in the prior-year period. Sales were also flat in local currencies. The company estimated that net sales benefited by approximately 6% from the recovery of previously disclosed 2023 shipping delays tied to a new external European logistics provider. Management cited reduced market demand, particularly in China, and noted that Chinese Operations' net sales to external customers decreased 23% in U.S. dollars. Net earnings fell to $177.5 million from $188.4 million, and diluted earnings per share were $8.24 versus $8.47. Gross profit as a percentage of net sales rose to 59.2% from 58.9%, which the company attributed mainly to favorable price realization and business mix. Restructuring charges increased to $9.7 million from $4.3 million, and interest expense rose to $19.2 million from $18.2 million, which management attributed to higher variable interest rates. Cash flow from operations improved to $190.0 million from $153.3 million, primarily from working capital changes and lower cash incentive payments of approximately $35 million. The company spent $212.5 million repurchasing 173,700 shares at an average price of $1,223.35 and had $2.3 billion of remaining authorization under its repurchase program. At quarter-end, total debt was $2,086.7 million, cash and cash equivalents were $70.2 million, and $583.6 million of additional borrowings was available under the Credit Agreement. Total shareholders' equity was a deficit of $158.7 million, down from a deficit of $149.9 million at December 31, 2023. Management stated that the company remains in compliance with its debt covenants and that cash flows from operations, together with its Credit Agreement, local working capital facilities and cash balances, are sufficient to fund anticipated needs for at least the foreseeable future. The filing also notes uncertainty from the economic environment, the risk of recession in many countries, inflation, and the ongoing developments related to Ukraine and the Israel-Hamas war.

    May 10, 2024
  9. 2023-Q3

    Mettler-Toledo International Quarterly Report for Q3 Ended Sep 30, 2023

    Mettler-Toledo International Inc. reported net sales of $942.5 million for the three months ended September 30, 2023, down from $985.8 million a year earlier, and net sales of $2.85 billion for the nine months, roughly flat against $2.86 billion in the prior-year period. Net earnings were $201.6 million for the quarter versus $220.6 million in 2022, and diluted earnings per share were $9.21 compared with $9.76. The filing attributes the quarterly sales decline to reduced demand in most product categories, a very sharp decline in China, and weaker life sciences conditions, following strong growth in prior years. Management states that market demand in China has significantly deteriorated and that it expects reduced sales in China for the remainder of 2023 compared with the prior year. Operating cash flow improved to $684.4 million for the nine months from $555.4 million, which management primarily attributes to favorable working capital and lower cash incentive payments of $20 million. The company repurchased $724.0 million of common stock during the nine months and had $2.7 billion of remaining authorization at quarter-end. Total debt was $2.11 billion at September 30, 2023, with $545.2 million of additional borrowings available under its Credit Agreement, and interest expense rose to $20.3 million in the quarter from $14.5 million, which the company ties to higher variable interest rates. Total shareholders' equity was negative $105.9 million at September 30, 2023, compared with $24.8 million at December 31, 2022. Gross margin was 59.4% for the quarter compared with 59.3% a year earlier, which the company attributes to favorable price realization offset partly by reduced volume, higher costs, business mix and currency translation. Segment profit for the quarter was $296.0 million versus $307.2 million, with the Chinese Operations segment declining sharply. Management says it expects the Inflation Reduction Act's impact to be immaterial and states that it was in compliance with its debt covenants at quarter-end.

    Nov 9, 2023
  10. 2023-Q2

    Mettler-Toledo International Quarterly Report for Q2 Ended Jun 30, 2023

    Mettler-Toledo International Inc. reported net sales of $982.1 million for the three months ended June 30, 2023, compared with $978.4 million in the prior-year quarter, and net sales of $1.9 billion for the six months ended June 30, 2023 and 2022. Net earnings were $213.9 million for the quarter versus $212.1 million a year earlier, with diluted earnings per share of $9.69 compared with $9.29. For the six months, net earnings were $402.4 million and diluted EPS was $18.15 versus $16.84. Management stated that local-currency net sales increased 2% for the quarter and 4% for the six months, with strength in Service (up 13% in both U.S. dollars and local currencies for the quarter) and Industrial products, offset by softer Laboratory products and China. Management cautioned that market demand in China "has deteriorated sharply" and that it expects reduced sales in China for the remainder of 2023 compared with the prior year. It also flagged increased economic uncertainty, including the risk of recession in many countries, along with ongoing developments in Ukraine and inflation. Interest expense rose to $19.2 million in the quarter from $12.8 million, which management attributed to higher variable interest rates and additional borrowings. On the balance sheet, total debt was $2.15 billion at June 30, 2023, with $83.6 million of cash and cash equivalents and $569.3 million of additional borrowings available under the Credit Agreement. Shareholders' equity was negative $89.7 million at June 30, 2023, down from $24.8 million at December 31, 2022, reflected in $500.0 million of share repurchases during the six months. Operating cash flow was $420.1 million for the six months, compared with $310.0 million a year earlier. The company had $3.0 billion of remaining availability under its share repurchase program.

    Jul 28, 2023
  11. 2023-Q1

    Mettler-Toledo International Quarterly Report for Q1 Ended Mar 31, 2023

    Mettler-Toledo International Inc. reported net sales of $928.7 million for the three months ended March 31, 2023, up from $897.8 million a year earlier, with net earnings of $188.4 million compared to $174.0 million. Diluted earnings per share were $8.47 versus $7.55. Management attributed the growth to broad-based gains in most businesses and regions. Net sales rose 7% in local currencies, while the company cited a 5% increase in local-currency product sales and a 15% increase in local-currency service revenue, including spare parts. Gross margin improved to 58.9% from 57.9%, reflecting favorable price realization, partly offset by higher costs, business mix and unfavorable foreign currency. Interest expense rose to $18.2 million from $11.3 million, which the company linked to higher variable interest rates and additional borrowings. Cash flow from operations improved to $153.3 million from $90.8 million, driven mainly by working capital, especially inventory. The company repurchased $250.0 million of common stock during the quarter and reported $3.2 billion of remaining repurchase authorization. Total shareholders' equity was negative $24.5 million at March 31, 2023, down from $24.8 million at December 31, 2022, as buybacks reduced equity. Total debt was $2.12 billion, including $150 million of 5.45% Senior Notes issued in March 2023, and the company had $595.1 million of additional borrowing capacity under its Credit Agreement. The filing states that management does not expect pending legal proceedings to have a material adverse effect, and that there were no material changes to risk factors from the 2022 Form 10-K. Management said the company is monitoring uncertainty in the economic environment, the risk of recession, inflation and developments related to Ukraine.

    May 5, 2023
  12. 2022-Q3

    Mettler-Toledo International Quarterly Report for Q3 Ended Sep 30, 2022

    Mettler-Toledo International Inc. reported net sales of $985.8 million for the three months ended September 30, 2022, up from $952.0 million a year earlier, and $2.86 billion for the nine months, up from $2.68 billion. The filing states that sales rose 4% and 7% in U.S. dollars for the three and nine months, respectively, and 10% and 11% in local currencies. Net earnings were $220.6 million for the quarter, compared with $203.7 million, and diluted earnings per share were $9.76, compared with $8.71. Gross margin improved to 59.3% of net sales for the quarter from 58.4%, which the company attributed to favorable price realization and higher sales volume, partly offset by higher material costs. Growth was strong across most businesses, with lower growth in Europe and 15% local-currency growth in China. Cash generation was weaker in the nine-month period. Operating cash flow was $555.4 million, compared with $667.7 million, which the company attributed mainly to higher cash incentive payments and increased inventory. Capital expenditures rose to $89.2 million from $69.8 million. The company spent $825.0 million on share repurchases during the nine months and had $1.2 billion of remaining authorization at September 30, 2022. In November 2022, the Board authorized an additional $2.5 billion. Total debt was $1.98 billion, and total shareholders' equity was a deficit of $82.8 million at September 30, 2022, compared with equity of $171.4 million at December 31, 2021. The company stated it was in compliance with its debt covenants. The filing notes ongoing risks from COVID-19 lockdowns in China, global supply chain challenges, inflation, and the Ukraine conflict. The company said that approximately 1% of its 2021 net sales were in Russia and Ukraine, and that it had suspended all shipments to Russia since February 2022. The company also reported that a $10.0 million contingent consideration payment related to the PendoTECH acquisition was made during the nine months.

    Nov 4, 2022
  13. 2022-Q2

    Mettler-Toledo International Quarterly Report for Q2 Ended Jun 30, 2022

    Mettler-Toledo International Inc. reported second-quarter 2022 net sales of $978.4 million, up from $924.4 million a year earlier, and net earnings of $212.1 million, up from $184.8 million. Diluted earnings per share were $9.29 versus $7.85. For the six months ended June 30, 2022, net sales were $1.88 billion and net earnings were $386.1 million, with diluted EPS of $16.84. The filing states that net sales grew 6% in U.S. dollars and 10% in local currencies for the quarter, and that the company experienced broad-based growth with robust customer demand in most businesses and regions. Cash provided by operating activities was $310.0 million for the six months, down from $404.4 million, which the filing attributes primarily to higher cash incentive payments and increased inventory levels. The company repurchased $550.0 million of common stock in the six months and had $1.5 billion of remaining share repurchase authorization at June 30, 2022. Total debt rose to $1.93 billion, with long-term debt of $1.82 billion, and the company had $528.0 million of additional borrowings available under its Credit Agreement. The filing flags risks from COVID-19 lockdowns in China, including Shanghai in the second quarter, along with supply chain constraints, inflationary cost increases, and the invasion of Ukraine. The company states that approximately 1% of 2021 net sales were in Russia and Ukraine and that it has suspended all shipments to Russia since February 2022.

    Jul 29, 2022
  14. 2022-Q1

    Mettler-Toledo International Quarterly Report for Q1 Ended Mar 31, 2022

    Mettler-Toledo International Inc. reported net sales of $897.8 million for the three months ended March 31, 2022, up from $804.4 million a year earlier, with management describing broad-based growth and a 14% increase in local currencies. Net earnings rose to $174.0 million from $149.7 million, and diluted earnings per share were $7.55 compared with $6.32. Gross margin slipped to 57.9% from 58.6%, which the company attributed mainly to higher transportation and material costs, partly offset by price realization and volume. Cash flow weakened in the quarter. Operating cash flow was $90.8 million versus $158.9 million a year earlier, primarily due to higher cash incentive payments tied to the prior year's strong performance. Share repurchases totaled $275.0 million for 190,593 shares, leaving $1.8 billion of remaining authorization. Total debt rose to $1.87 billion, reflecting a $150 million 2.81% Senior Notes issuance in March 2022, and shareholders' equity fell to $84.6 million from $171.4 million. Management flagged risks tied to COVID-19 lockdowns in China, supply chain pressures, inflation, and the invasion of Ukraine. Russia and Ukraine together accounted for about 1% of 2021 net sales, and the company suspended all shipments to Russia. A new risk factor addresses the sanctions and related effects of the conflict.

    May 6, 2022
  15. 2021-Q3

    Mettler-Toledo International Quarterly Report for Q3 Ended Sep 30, 2021

    Mettler-Toledo International Inc. reported strong third-quarter 2021 results in its Form 10-Q filed November 5, 2021. Net sales for the three months ended September 30, 2021 were $951.95 million, up from $807.36 million a year earlier, and net earnings rose to $203.69 million from $161.77 million. Diluted earnings per share were $8.71 versus $6.68. For the nine months, net sales reached $2.68 billion (versus $2.15 billion) and net earnings were $538.11 million (versus $386.44 million). Management attributes the growth to broad-based demand, strong execution of sales and marketing programs, and particularly strong growth in China, while noting that COVID-19 uncertainty continues and market conditions may change quickly. The balance sheet shows total assets of $3.21 billion at September 30, 2021, with long-term debt of $1.64 billion, up from $1.28 billion at year-end 2020, reflecting the PendoTECH acquisition and new borrowings. Cash and cash equivalents were $183.7 million, and total shareholders' equity fell to $159.2 million from $282.7 million, as $727.5 million was spent on share repurchases during the nine months. Operating cash flow was $667.7 million for the nine months, compared with $473.8 million a year earlier. The company disclosed that it had $2.3 billion of remaining authorization under its share repurchase program and $654.2 million of additional borrowing capacity under its $1.25 billion Credit Agreement as of September 30, 2021. It also noted an agreement with the U.S. Department of Defense to receive $35.8 million in grant funding over two years to expand domestic pipette tip production, and subsequent acquisition of Scale-up Systems Inc. in October 2021.

    Nov 5, 2021
  16. 2021-Q2

    Mettler-Toledo International Quarterly Report for Q2 Ended Jun 30, 2021

    Mettler-Toledo International Inc. reported strong second-quarter 2021 results, with net sales of $924.4 million for the three months ended June 30, 2021, up from $690.7 million a year earlier, and net earnings of $184.8 million versus $126.6 million. For the six months, net sales were $1.73 billion and net earnings were $334.4 million. The filing states that growth was broad-based across most businesses and regions, with local-currency net sales up 27% for the quarter and 23% for the six months, and China growth particularly strong. Gross margin rose to 58.1% in the quarter from 57.6%, which the company attributed to higher sales volume and favorable price realization, partly offset by higher transportation and material costs. Cash flow from operations was $404.4 million for the six months, compared with $248.8 million a year earlier, mainly due to higher net earnings. The company spent $185.0 million (with up to $20.0 million of additional contingent consideration) to acquire PendoTECH in March 2021, and repurchased $475.0 million of common stock in the six months. Total debt rose to $1.66 billion at June 30, 2021, and the company entered a $1.25 billion Credit Agreement on June 25, 2021, with $576.3 million of additional borrowings available. Shareholders' equity fell to $191.4 million from $282.7 million at year-end 2020, reflecting share repurchases. Management stated that COVID-19 uncertainty continues and that market conditions may change quickly, and it noted that supply chain operations are continuing with some interruption. The filing reports no material changes to risk factors and no material legal proceedings, and management concluded that disclosure controls are effective.

    Jul 30, 2021
  17. 2021-Q1

    Mettler-Toledo International Quarterly Report for Q1 Ended Mar 31, 2021

    Mettler-Toledo International Inc. reported net sales of $804.4 million for the three months ended March 31, 2021, up from $649.2 million in the prior-year period, and net earnings of $149.7 million compared with $98.1 million. Diluted earnings per share were $6.32 versus $4.03. The company stated that net sales grew 18% in local currencies, with particularly strong growth in China, and that gross profit as a percentage of net sales rose to 58.6% from 57.7%. Operating cash flow was $158.9 million, compared with $65.5 million a year earlier. The company's balance sheet changed notably during the quarter. Total debt rose to $1.61 billion, mainly to fund the $185.0 million initial cash payment for the PendoTECH acquisition, and goodwill and other intangible assets increased. Shareholders' equity fell to $202.6 million from $282.7 million at year-end 2020, reflecting $262.5 million of share repurchases during the quarter. The company had $2.8 billion of remaining share repurchase authorization as of March 31, 2021. Management cited broad-based demand improvement, strong pipette and industrial growth, and continued COVID-19 uncertainty. The filing noted that the company will face more difficult prior-period comparisons in China later in 2021.

    May 7, 2021
  18. 2020-Q3

    Mettler-Toledo International Quarterly Report for Q3 Ended Sep 30, 2020

    Mettler-Toledo International Inc.'s Form 10-Q for the quarter ended September 30, 2020 reports a sharp third-quarter rebound after a weak first nine months affected by COVID-19. Net sales for the three months were $807.4 million, up from $753.9 million, an increase of 7% in U.S. dollars and 6% in local currencies. For the nine months, net sales were $2.1 billion, a decrease of 1% in U.S. dollars and flat in local currencies. Net earnings for the quarter rose to $161.8 million from $129.4 million, and diluted earnings per share were $6.68 versus $5.20. Gross profit as a percentage of net sales improved to 58.2% from 57.7%, which the company attributed mainly to favorable price realization, temporary cost savings and material cost reductions. Management said it remains cautious because COVID-19 uncertainty continues, and states that the effects on its business could be material. Cash generation and liquidity were solid. Cash provided by operating activities was $473.8 million for the nine months, compared with $401.7 million a year earlier, which the company linked to favorable working capital and strong cash collections. At September 30, 2020, the company held $153.7 million of cash and cash equivalents and had approximately $700.7 million of additional borrowings available under its Credit Agreement. Total debt was $1.22 billion, and the company stated it was in compliance with its debt covenants. Total shareholders' equity was $443.1 million. The company repurchased $400 million of common stock during the nine months and, in November 2020, its Board authorized an additional $2.5 billion for the share repurchase program, which had $0.9 billion remaining as of September 30, 2020. By segment, the laboratory business grew 11% in U.S. dollars for the quarter, while industrial sales rose 2% and food retail rose 8%. China was a standout, with local currency growth of 17% for the quarter, while the company also cited reduced customer demand across regions during the nine-month period. The company reported no material changes to its market risk disclosures and concluded that its disclosure controls were effective.

    Nov 6, 2020
  19. 2020-Q2

    Mettler-Toledo International Quarterly Report for Q2 Ended Jun 30, 2020

    Mettler-Toledo International Inc. reported second-quarter 2020 net sales of $690.7 million, down from $731.4 million in the prior-year quarter, and net earnings of $126.6 million versus $127.2 million. For the six months ended June 30, 2020, net sales were $1.34 billion compared with $1.41 billion, and net earnings were $224.7 million versus $239.0 million. The filing attributes the decline primarily to reduced customer demand from the COVID-19 pandemic across all regions, though China showed increased business activity in the second quarter. Gross profit as a percentage of net sales was 57.6% in both the three- and six-month periods of 2020, and the company cites temporary cost savings measures as a contributor to margins. The balance sheet shows cash and cash equivalents of $127.3 million at June 30, 2020, with total debt of $1.20 billion and approximately $712.1 million of additional borrowings available under its Credit Agreement. Operating cash flow for the six months was $248.8 million, compared with $225.9 million a year earlier, aided by working capital timing and strong collections. The company repurchased $200 million of common stock in the first quarter of 2020 and did not repurchase shares in the second quarter, leaving $1.1 billion available under its share repurchase program. Management states that the longer-term effects of COVID-19 are extremely difficult to estimate and could be material, and it expects reduced global sales volume in future quarters.

    Jul 31, 2020
  20. 2020-Q1

    Mettler-Toledo International Quarterly Report for Q1 Ended Mar 31, 2020

    Mettler-Toledo International Inc. reported net sales of $649.2 million for the three months ended March 31, 2020, down from $679.5 million in the prior-year period, a decrease of 4% in U.S. dollars and 3% in local currencies. Management attributes the decline primarily to COVID-19, which reduced customer demand in China and other regions and caused a decline in food retailing. Net earnings fell to $98.1 million from $111.8 million, and diluted earnings per share were $4.03 compared with $4.42. Gross margin rose to 57.7% of net sales from 57.2%, reflecting favorable price realization and material cost reductions. Cash flow and liquidity were mixed. Operating cash flow was $65.5 million versus $98.8 million a year earlier, reflecting approximately $13 million of higher tax payments and about $8 million of inventory build. Cash and cash equivalents rose to $323.6 million, and the company had approximately $342.9 million of additional borrowings available under its Credit Agreement. Total debt increased to $1.57 billion, including a $50 million fifteen-year Senior Note issued in January 2020, and the company repurchased $200.0 million of common stock during the quarter, leaving $1.1 billion available under its authorization. Total shareholders' equity fell to $306.4 million from $420.8 million at year-end 2019. Management states that COVID-19 is expected to reduce global sales volume in future quarters, and that the longer-term effects could be material. The company reported no material change in legal proceedings and stated that its disclosure controls were effective.

    May 8, 2020
  21. 2019-Q3

    Mettler-Toledo International Quarterly Report for Q3 Ended Sep 30, 2019

    Mettler-Toledo International Inc. reported net sales of $753.9 million for the three months ended September 30, 2019, up from $734.8 million a year earlier, and net earnings of $129.4 million compared with $126.7 million. For the nine months, net sales were $2.16 billion versus $2.12 billion, and net earnings were $368.4 million versus $331.4 million. Diluted EPS was $5.20 for the quarter and $14.67 for the nine months, compared with $4.93 and $12.81 in the prior-year periods. Management stated that net sales rose 4% in local currencies for the quarter and 5% for the nine months, while a significant decline in food retailing reduced net sales by 2% in both periods. Gross margin improved to 57.7% for the quarter from 57.1% and to 57.4% for the nine months from 57.0%, which management attributed to price realization, productivity and business mix, partly offset by tariff costs and new product introduction costs. Operating cash flow was $401.7 million for the nine months versus $366.4 million a year earlier. Total debt was $1.17 billion at September 30, 2019, and $529.2 million was available under the Credit Agreement. The company repurchased $558.7 million of its stock in the nine months and had $1.5 billion remaining under its share repurchase program. In November 2019, the company agreed to issue EUR 135 million of 1.30% Euro-Senior Notes and $50 million of 3.19% Senior Notes, with proceeds to repay credit facility borrowings and fund operations. Total shareholders' equity fell to $438.3 million at September 30, 2019 from $590.1 million at December 31, 2018, as treasury stock purchases increased.

    Nov 8, 2019
  22. 2019-Q2

    Mettler-Toledo International Quarterly Report for Q2 Ended Jun 30, 2019

    Mettler-Toledo International Inc. reported net sales of $731.4 million for the three months ended June 30, 2019, up from $722.0 million a year earlier, and $1.41 billion for the six months, up from $1.38 billion. Net earnings rose to $127.2 million for the quarter from $111.5 million, and diluted earnings per share were $5.06 versus $4.31. For the six months, net earnings were $239.0 million and diluted EPS was $9.48. The filing states that local-currency net sales increased 5% for the quarter and 6% for the six months, with the Americas and Asia/Rest of World growing while Europe declined in U.S. dollars. Gross margin improved to 57.4% for the quarter from 57.2%, reflecting price realization and productivity, partly offset by tariff costs. The balance sheet shows total assets of $2.66 billion and total shareholders' equity of $504.1 million at June 30, 2019, down from $590.1 million at December 31, 2018, as treasury stock purchases grew to $4.15 billion. Total debt was $1.14 billion, including the newly issued $75 million 3.91% Senior Notes due 2029 and a EUR 125 million Senior Note. The company repurchased $372.5 million of common stock during the six months and had $1.7 billion remaining under its share repurchase program. Cash and cash equivalents fell to $124.4 million, while operating cash flow was $225.9 million for the six months. Management stated that global market conditions were generally favorable in the first half of 2019 but cautioned about economic uncertainty in certain regions. The filing notes that U.S. tariffs on certain products imported from China carry an estimated annualized cost of approximately $25 million, and that food retailing sales declined significantly in the Americas. The company reported no material change in market risk disclosures and concluded its disclosure controls were effective.

    Aug 2, 2019
  23. 2019-Q1

    Mettler-Toledo International Quarterly Report for Q1 Ended Mar 31, 2019

    Mettler-Toledo International Inc. reported net sales of $679.5 million for the three months ended March 31, 2019, up from $660.8 million in the prior-year period, with net sales increasing 3% in U.S. dollars and 7% in local currencies. Gross profit rose to $388.3 million from $374.9 million, with gross margin at 57.2% versus 56.7%, reflecting favorable price realization and productivity, partially offset by tariff costs. Net earnings were $111.8 million, or $4.42 per diluted share, compared with $93.3 million, or $3.58 per diluted share, a year earlier. The reported tax rate was 11% versus 21% in the prior-year quarter, which the filing attributes to the timing of excess tax benefits from stock option exercises. Cash provided by operating activities was $98.8 million, compared with $76.6 million, driven by higher net earnings and a lower working capital outflow. The company repurchased 290,429 shares for $186.3 million during the quarter and had $1.9 billion remaining under its share repurchase program. Total debt was $1.06 billion at March 31, 2019, with $575.2 million available under the Credit Agreement. In April 2019, the company agreed to issue $75 million of ten-year senior notes at 3.91%, to be issued in June 2019. The filing notes that the U.S. government's 2018 tariffs on certain products imported from China carry an estimated annualized cost increase of approximately $25 million. Net sales in the Americas were reduced 3% by a significant decline in food retailing, primarily due to project timing. Management described global market conditions as generally favorable while remaining cautious about economic uncertainties in certain regions.

    May 10, 2019
  24. 2018-Q3

    Mettler-Toledo International Quarterly Report for Q3 Ended Sep 30, 2018

    Mettler-Toledo International Inc. reported third-quarter 2018 total net sales of $734.8 million, up from $698.8 million in the prior-year quarter, and net earnings of $126.7 million versus $105.0 million. Diluted earnings per share were $4.93, compared with $3.99. For the nine months ended September 30, 2018, net sales were $2.12 billion and net earnings were $331.4 million, or $12.81 per diluted share. The filing states that U.S. dollar net sales grew 5% for the quarter and 9% for the nine months, while local-currency growth was 7% and 6%, with the Biotix acquisition contributing approximately 1% to local-currency net sales. Gross margin was 57.1% for the quarter compared with 57.4% a year earlier, which the company attributed mainly to initial costs for a new manufacturing facility and product introductions, the Biotix acquisition, unfavorable business mix and tariff costs, partly offset by favorable price realization. The company estimates the annualized cost of 2018 U.S. tariffs on certain products imported from China at approximately $25 million, assuming a 25% tariff rate, and says it is implementing mitigation actions. Cash provided by operating activities was $366.4 million for the nine months, compared with $351.2 million a year earlier. Share repurchases totaled $356.2 million for the nine months, and $227.2 million remained under the program at September 30, 2018. On November 8, 2018, the Board authorized an additional $2.0 billion for repurchases. Total debt was $1.04 billion, and $601 million was available under the amended $1.1 billion Credit Agreement.

    Nov 9, 2018
  25. 2018-Q2

    Mettler-Toledo International Quarterly Report for Q2 Ended Jun 30, 2018

    Mettler-Toledo International Inc. reported net sales of $721,996 thousand for the three months ended June 30, 2018, up from $653,656 thousand a year earlier, and net sales of $1,382,817 thousand for the six months, compared with $1,248,223 thousand in the prior-year period. Net earnings were $111,468 thousand for the quarter (diluted EPS of $4.31, versus $3.84) and $204,772 thousand for the six months (diluted EPS of $7.88, versus $7.32). Management states that local-currency net sales grew 7% in the quarter and 6% for the six months, with the Biotix acquisition contributing approximately 1.5% to local-currency net sales in both periods. Gross margin was 57.2% for the quarter, compared with 57.5% a year earlier, which management attributes mainly to currency translation, initial costs of a new manufacturing facility and the Biotix acquisition, partly offset by favorable price realization. Restructuring charges rose to $7,321 thousand in the quarter from $4,023 thousand, and the company recorded a $3.6 thousand-level...

    Jul 27, 2018
  26. 2018-Q1

    Mettler-Toledo International Quarterly Report for Q1 Ended Mar 31, 2018

    Mettler-Toledo International Inc. reported net sales of $660.8 million for the three months ended March 31, 2018, up from $594.6 million in the prior-year period, an increase of 11% in U.S. dollars and 5% in local currencies. The Biotix acquisition contributed approximately 1.5% to local currency net sales growth. Gross profit was $374.9 million, with gross margin of 56.7% compared with 57.8% a year earlier, which the company attributed mainly to currency translation, unfavorable business mix and initial costs at new manufacturing facilities, partly offset by favorable price realization. Net earnings were $93.3 million, or $3.58 diluted earnings per share, compared with $92.5 million, or $3.48 per diluted share, in the first quarter of 2017. Operating cash flow was $76.6 million, up from $67.6 million. The balance sheet shows cash and cash equivalents of $98.9 million and total debt of $993.6 million at March 31, 2018, with $319.7 million available under the Credit Agreement. Shareholders' equity was $560.7 million. The company repurchased 187,880 shares for $118.8 million during the quarter and had $464.7 million remaining under its share repurchase program. Capital expenditures were $29.8 million, and the company expects net investments in new or expanded manufacturing facilities of $30 million to $40 million over the next two years. Management remained cautious about economic uncertainty in certain regions and noted difficult prior-period comparisons for the rest of 2018. Restructuring charges were $4.4 million, up from $1.4 million. The company stated that legal proceedings are not expected to have a material adverse effect on its financial condition, results of operations or cash flows.

    May 4, 2018
  27. 2017-Q3

    Mettler-Toledo International Quarterly Report for Q3 Ended Sep 30, 2017

    Mettler-Toledo International Inc. reported net sales of $698.8 million for the three months ended September 30, 2017, up from $650.6 million a year earlier, and net sales of $1.947 billion for the nine months, compared with $1.799 billion. Net earnings were $104.95 million for the quarter (diluted EPS of $3.99, versus $3.77) and $298.996 million for the nine months (diluted EPS of $11.31, versus $9.08). The filing states that net sales grew 7% in U.S. dollars and 6% in local currencies for the quarter, and 8% and 9% respectively for the nine months, with the Biotix and Troemner acquisitions contributing approximately 1% to net sales. Gross margin was 57.3% for the quarter and 57.4% for the nine months. Balance sheet and cash flow items show total assets of $2.497 billion and long-term debt of $1.051 billion at September 30, 2017, up from $875.1 million at December 31, 2016, reflecting borrowings to fund the September 2017 Biotix acquisition, which carried an initial cash payment of $105 million and up to $65 million of additional contingent consideration. Net cash provided by operating activities was $351.2 million for the nine months, versus $307.3 million a year earlier. The company repurchased $335.0 million of common stock during the nine months and had $648.4 million remaining under its share repurchase program at quarter end. The filing notes that food retailing sales declined sharply in the third quarter (down 16% in U.S. dollars) after very strong prior-year growth, and that management expects more difficult prior-period comparisons in the fourth quarter of 2017 and into 2018. The company also stated that the Chinese segment's local-currency net sales growth is expected to be lower in the fourth quarter than its year-to-date results. Management reported no material changes to risk factors and concluded that disclosure controls were effective.

    Nov 3, 2017
  28. 2017-Q2

    Mettler-Toledo International Quarterly Report for Q2 Ended Jun 30, 2017

    Mettler-Toledo International Inc. reported net sales of $653.7 million for the three months ended June 30, 2017, up from $608.3 million in the prior-year quarter, and net sales of $1.25 billion for the six months ended June 30, 2017, compared with $1.15 billion a year earlier. The filing states that net sales increased 10% for the quarter and 11% for the six months in local currencies, versus 7% and 9% in U.S. dollars. Net earnings were $101.6 million for the quarter (diluted EPS $3.84) and $194.0 million for the six months (diluted EPS $7.32), compared with $79.6 million and $145.3 million in 2016. The company attributes the growth to strong volume, favorable price realization and productivity gains, while noting more difficult prior-period comparisons in the second half of 2017 and an expected meaningful decline in its Retail (food retailing) business. Cash provided by operating activities was $205.4 million for the six months, versus $162.4 million a year earlier. Capital expenditures rose to $48.5 million, mainly for manufacturing facilities, and the company expects net investments of $65 million to $75 million in new or expanded manufacturing facilities over the next two years. Repurchases of common stock totaled $249.9 million for the six months, leaving $733.5 million remaining under the program. Total debt was $969.4 million at June 30, 2017, with $336.3 million available under the Credit Agreement, and cash and equivalents were $146.3 million. The filing reports an effective tax rate of 22% for the full year before discrete items, lower than prior guidance of 24% for 2016, primarily due to the adoption of ASU 2016-09. Management states that no material legal proceedings are pending and that the company expects its existing cash flow and credit facilities to fund working capital and capital spending requirements for at least the foreseeable future.

    Jul 28, 2017
  29. 2017-Q1

    Mettler-Toledo International Quarterly Report for Q1 Ended Mar 31, 2017

    Mettler-Toledo International Inc. reported net sales of $594.6 million for the three months ended March 31, 2017, up from $539.7 million in the prior-year period, with the MD&A stating an increase of 10% in U.S. dollars and 12% in local currencies. Gross profit rose to $342.9 million, or 57.7% of net sales versus 55.6% a year earlier, and net earnings increased to $92.5 million from $65.7 million. Diluted earnings per share were $3.48 compared with $2.40. The filing attributes the margin improvement to higher sales volume, productivity gains and favorable price realization, and notes that the Troemner acquisition contributed approximately 1% to net sales. The quarter also included a one-time $3.4 million gain on the sale of a Swiss facility tied to the consolidation of certain Swiss operations, and an income tax rate of 19%, reflecting the adoption of ASU 2016-09 on excess tax benefits from stock option exercises. Management expects its 2017 estimated annual tax rate to be 22%. Operating cash flow was $67.6 million, versus $41.5 million a year earlier, and cash and cash equivalents ended the quarter at $164.9 million. Total debt was $963.7 million at March 31, 2017, up from the year-end 2016 balance, and the company had $333.6 million of availability under its Credit Agreement. The company repurchased $125.0 million of common stock during the quarter, leaving $858.4 million remaining under its share repurchase program. Management remains cautious about economic uncertainty in certain regions and notes more difficult prior-period comparisons in the second half of 2017.

    May 5, 2017
  30. 2016-Q3

    Mettler-Toledo International Quarterly Report for Q3 Ended Sep 30, 2016

    Mettler-Toledo International Inc. reported net sales of $650.6 million for the three months ended September 30, 2016, up from $604.2 million a year earlier, and $1.799 billion for the nine months, up from $1.722 billion. Net earnings were $101.3 million for the quarter (diluted EPS of $3.77, versus $3.16) and $246.6 million for the nine months (diluted EPS of $9.08, versus $8.07). The filing states that net sales grew 9% in local currencies for the quarter and 6% for the nine months, and that the Troemner acquisition contributed approximately 1% to quarterly net sales. Gross profit as a percentage of net sales rose to 56.8% for the quarter from 56.2%, which the company attributes to higher sales volume, favorable price realization, and reduced material costs. The balance sheet shows total assets of $2.22 billion at September 30, 2016, up from $2.02 billion at December 31, 2015, with long-term debt rising to $826.0 million from $575.1 million. Total shareholders' equity declined to $500.5 million from $580.5 million, reflected in $374,994 thousand of share repurchases during the nine months. Operating cash flow was $290.1 million for the nine months, roughly flat with $289.8 million a year earlier, while acquisitions used $109.7 million. Management states it remains cautious about sales growth given uncertainty in global markets, and the filing notes Switzerland's soft market conditions and the uncertain outlook for China. The quarter included a one-time non-cash pension settlement charge of $8.2 million, and the company reported no material change in its legal proceedings or market risk disclosures. Remaining authorization under the share repurchase program was $1.1 billion as of September 30, 2016.

    Nov 4, 2016
  31. 2016-Q2

    Mettler-Toledo International Quarterly Report for Q2 Ended Jun 30, 2016

    Mettler-Toledo International Inc. reported net sales of $608.3 million for the three months ended June 30, 2016, up from $582.1 million a year earlier, and $1,148.0 million for the six months, up from $1,117.8 million. Net earnings were $79.6 million for the quarter ($2.93 diluted EPS) versus $77.6 million ($2.73 diluted) in the prior-year quarter, and $145.3 million for the six months ($5.32 diluted EPS) versus $140.6 million ($4.91). The filing states that net sales grew 6% in local currencies for the quarter and 5% for the six months, while management remains cautious about sales growth given uncertainty in global markets. Results for the quarter include a one-time non-cash pension settlement charge of $8.2 million tied to a lump-sum offering to former U.S. pension plan participants. The balance sheet shows total assets of $2.06 billion and total shareholders' equity of $491.96 million at June 30, 2016, down from $580.5 million at year-end 2015, reflecting $250.0 million of share repurchases in the six months. Long-term debt rose to $693.3 million from $575.1 million, and cash flow from operations was $151.2 million for the six months versus $163.8 million a year earlier. Capital expenditures were $28.9 million, and the company agreed in May 2016 to acquire substantially all assets of Henry Troemner, LLC for approximately $96 million, expected to close in the third quarter of 2016 and funded under the existing Credit Agreement. The filing reports $1.2 billion remaining under the share repurchase program and $588.6 million of availability under the Credit Agreement. Management states that operating cash flow, credit facility availability and local working capital facilities should be sufficient to fund anticipated needs for at least the foreseeable future. Segment results show growth in U.S. Operations, Chinese Operations and Other, while Swiss Operations' external sales declined on soft market conditions in Switzerland.

    Jul 29, 2016
  32. 2016-Q1

    Mettler-Toledo International Quarterly Report for Q1 Ended Mar 31, 2016

    Mettler-Toledo International Inc. reported net sales of $539.7 million for the three months ended March 31, 2016, up from $535.7 million in the prior-year period, with the company noting a 1% increase in U.S. dollars and a 4% increase in local currencies. Gross profit was $299.9 million, or 55.6% of net sales, compared with 55.8% a year earlier, as unfavorable business mix and field service investments were partly offset by price realization and lower material costs. Net earnings rose to $65.7 million from $63.1 million, and diluted earnings per share were $2.40 versus $2.19, helped by a lower share count following $125.0 million of share repurchases during the quarter. Cash flow was weaker than the prior year, with operating cash flow of $35.7 million versus $58.6 million, reflecting a $19.3 million higher working capital outflow largely tied to receivables and payables timing. Total debt rose to $699.3 million at March 31, 2016 from roughly $590 million at year-end, with long-term debt of $681.9 million, and $602.0 million remained available under the Credit Agreement. Shareholders' equity declined to $543.3 million from $580.5 million, reflecting the buybacks and a $2.8 billion treasury stock balance. Management remains cautious on sales growth given uncertain global conditions, particularly in emerging markets and China. The filing also notes a one-time non-cash pension settlement charge of approximately $8.3 million expected in the second quarter of 2016, and $1.4 billion remaining under the share repurchase program.

    May 6, 2016
  33. 2015-Q3

    Mettler-Toledo International Quarterly Report for Q3 Ended Sep 30, 2015

    Mettler-Toledo International Inc. reported net sales of $604.2 million for the three months ended September 30, 2015, down from $629.1 million a year earlier, and $1.722 billion for the nine months, compared with $1.789 billion in the prior-year period. The filing states that net sales decreased 4% in U.S. dollars for both periods but increased 3% and 4% in local currencies for the three and nine months, respectively. Net earnings were $88.9 million for the quarter, up from $85.0 million, and $229.5 million for the nine months, up from $217.1 million. Diluted earnings per share were $3.16 for the quarter and $8.07 for the nine months, compared with $2.89 and $7.30 a year earlier. The filing describes weak market conditions in China, Russia and Brazil, where customer investments have slowed, and says the timing of a recovery in those three countries remains uncertain. Cash provided by operating activities was $289.8 million for the nine months, and the company spent $371.2 million repurchasing 1,167,796 shares during the period. Total debt rose to $622.8 million at September 30, 2015, from roughly $452 million at year-end 2014 in the balance sheet presentation, and total shareholders' equity fell to $586.4 million from $719.6 million, reflecting share repurchases and currency translation losses. In November 2015, the Board authorized an additional $1.5 billion for the share repurchase program. The filing states that management expects the 2014 Form 10-K and related disclosures to guide readers on risks, and that no material changes to previously disclosed risk factors occurred during the nine months. The company also disclosed acquisitions totaling $16.6 million in September 2015, including a water purity monitoring technology for an estimated $14.7 million.

    Nov 6, 2015
  34. 2015-Q2

    Mettler-Toledo International Quarterly Report for Q2 Ended Jun 30, 2015

    Mettler-Toledo International Inc. reported net sales of $582.1 million for the three months ended June 30, 2015, down from $608.8 million a year earlier, while net earnings rose to $77.6 million from $74.0 million. Diluted earnings per share were $2.73 versus $2.49. For the six months, net sales were $1.118 billion versus $1.159 billion, and net earnings were $140.6 million versus $132.1 million, with diluted EPS of $4.91 versus $4.41. Gross profit as a percentage of net sales was 55.5% for the quarter, compared with 53.9% in the prior-year quarter. The filing states that net sales fell 4% in U.S. dollars for both the three- and six-month periods but rose 3% and 4% in local currencies, respectively. Management cited unfavorable market conditions in China, Russia and Brazil. The balance sheet shows total debt of $628.5 million at June 30, 2015, including a Euro 125 million 1.47% Senior Notes issue and a $125 million 4.24% Senior Notes issue, both placed in June 2015. The company used the 4.24% proceeds to repay $100 million of 6.30% Senior Notes due June 25, 2015. Cash and cash equivalents rose to $149.3 million from $85.3 million at year-end 2014. Cash provided by operating activities was $163.8 million for the six months, and the company repurchased $247.5 million of common stock during the period, with $230.9 million remaining under its authorization. Total shareholders' equity fell to $654.3 million from $719.6 million, reflected in the larger treasury stock balance. The filing reports no material change in market risk disclosures or risk factors from the 2014 Form 10-K, and states that management does not expect pending legal proceedings to have a material adverse effect.

    Jul 31, 2015
  35. 2015-Q1

    Mettler-Toledo International Quarterly Report for Q1 Ended Mar 31, 2015

    Mettler-Toledo International Inc. reported net sales of $535.7 million for the three months ended March 31, 2015, down from $550.6 million in the prior-year period, with the filing stating a 3% decrease in U.S. dollars but a 5% increase in local currencies. Gross profit rose to $298.8 million, or 55.8% of net sales versus 53.1% a year earlier, and net earnings increased to $63.1 million from $58.1 million. Diluted earnings per share were $2.19 compared with $1.93. The company attributed the margin improvement to hedging gains and currency translation, favorable price realization, higher volume, reduced material costs and business mix, partly offset by investments in its field service organization. Balance sheet and cash flow highlights include cash and equivalents of $75.4 million at March 31, 2015, total debt of $523.9 million, and $611.4 million of availability under the credit agreement. Net cash provided by operating activities was $58.6 million, compared with $42.8 million a year earlier, while capital expenditures were $18.5 million. Shareholders' equity declined to $666.1 million from $719.6 million, reflecting $123.7 million of share repurchases during the quarter. The company also agreed in March 2015 to issue Euro 125 million of 1.47% senior notes due 2030 in June 2015. Management remained cautious about sales growth, citing uncertain global market conditions and weakness in emerging markets including China and Russia. Sales in Europe declined 14% in U.S. dollars, while the Americas grew 6%. Management stated that there were no material changes to risk factors from the 2014 Form 10-K and that disclosure controls were effective.

    May 8, 2015
  36. 2014-Q3

    Mettler-Toledo International Quarterly Report for Q3 Ended Sep 30, 2014

    Mettler-Toledo International Inc. reported net sales of $629.1 million for the third quarter of 2014, up from $591.7 million in the prior-year quarter, and $1.789 billion for the nine months, compared with $1.695 billion a year earlier. Net sales grew 6% in U.S. dollars for both the three- and nine-month periods, and 6% and 5% in local currencies, respectively. Net earnings for the quarter were $85.0 million ($2.89 diluted EPS) versus $74.3 million ($2.43 diluted EPS), and nine-month net earnings were $217.1 million ($7.30 diluted EPS) versus $195.9 million ($6.35). Gross profit as a percentage of net sales was 54.6% for the quarter and 53.9% for the nine months, with management citing increased price realization and reduced material costs. Cash provided by operating activities was $278.2 million for the nine months, up from $237.4 million, which management attributed primarily to the timing of working capital. Capital expenditures were $61.4 million. Total debt was $485.0 million at September 30, 2014, and the company issued $125 million of 3.84% Senior Notes in September 2014, with a further $125 million of 4.24% Senior Notes to be issued in June 2015 under a June 2014 private placement agreement. Share repurchases totaled $296.5 million for the nine months, with $595.9 million remaining under the $3 billion program. Management described market conditions as having improved during the nine months but remained cautious, citing uncertainty in emerging markets and Europe and weak Chinese market conditions for industrial products. The filing reports no material changes to risk factors and no material legal proceedings.

    Nov 7, 2014
  37. 2014-Q2

    Mettler-Toledo International Quarterly Report for Q2 Ended Jun 30, 2014

    Mettler-Toledo International Inc. reported net sales of $608.8 million for the three months ended June 30, 2014, up from $578.7 million a year earlier, and $1.159 billion for the six months, up from $1.103 billion. Net earnings were $74.0 million for the quarter (diluted EPS $2.49) versus $69.1 million (diluted EPS $2.24) in the prior-year quarter, and $132.1 million for the six months (diluted EPS $4.41) versus $121.6 million (diluted EPS $3.93). The filing states that net sales rose 5% in U.S. dollars and 4% in local currencies for both the three and six month periods, with local-currency sales reduced by about 1% from the exit of certain industrial-related businesses in China. Management says market conditions improved in Europe and the Americas during the first half but that global conditions remain uncertain, particularly in emerging markets, and it remains cautious about its sales growth outlook. Balance sheet and cash flow data show cash and cash equivalents of $111.0 million, total debt of $466.7 million, and total shareholders' equity of $907.7 million at June 30, 2014. Net cash provided by operating activities was $151.0 million for the six months, versus $114.6 million a year earlier, and the company repurchased $184.0 million of common stock during the period. In June 2014 the company agreed to issue $250 million of ten-year senior unsecured notes in a private placement, with $125 million at 3.84% due to be issued in September 2014 and $125 million at 4.24% in June 2015. Remaining authorization under the $3 billion share repurchase program was $708.4 million at June 30, 2014.

    Jul 25, 2014
  38. 2014-Q1

    Mettler-Toledo International Quarterly Report for Q1 Ended Mar 31, 2014

    Mettler-Toledo International Inc. reported net sales of $550.6 million for the three months ended March 31, 2014, up from $524.4 million in the prior-year period, a 5% increase in U.S. dollars and 4% in local currencies. Gross profit was $292.6 million, with gross margin of 53.1% versus 53.2% a year earlier. Net earnings rose to $58.1 million from $52.5 million, and diluted earnings per share were $1.93 compared with $1.69. Management noted that market conditions improved, particularly in Europe, but that global conditions remain uncertain, especially in emerging markets, and that it remains cautious about its sales growth outlook. By segment, Western European Operations and Swiss Operations posted the strongest total net sales growth at 10% in U.S. dollars, while Chinese Operations' external sales rose only 1% in U.S. dollars and declined 1% in local currency, reflecting weak demand for industrial products in China. Operating cash flow improved to $42.8 million from $23.7 million, while capital expenditures were $16.7 million. Share repurchases totaled $82.5 million for 336,188 shares, and $809.9 million remained under the $3 billion repurchase program. Total debt was $465.8 million at March 31, 2014, and $546.4 million was available under the credit agreement. Cash and cash equivalents were $115.8 million, and shareholders' equity was $923.6 million. Management stated that cash flow from operations, together with available credit facilities, should be sufficient to fund anticipated working capital and capital spending needs for at least the foreseeable future.

    May 9, 2014
  39. 2013-Q3

    Mettler-Toledo International Quarterly Report for Q3 Ended Sep 30, 2013

    Mettler-Toledo International Inc. reported third-quarter 2013 total net sales of $591.7 million, up from $578.6 million in the prior-year quarter, with net earnings of $74.3 million versus $72.2 million. For the nine months ended September 30, 2013, net sales were $1.695 billion and net earnings were $195.9 million, compared with $1.684 billion and $186.2 million a year earlier. Diluted earnings per share were $2.43 for the quarter and $6.35 for the nine months. Management said that economic conditions remain uncertain and that it is cautious about its sales growth outlook. Net sales in local currencies increased 1% for the quarter and were flat for the nine months, and China remained weak. Gross margin improved to 53.8% in the quarter from 53.3%, and to 53.5% for the nine months from 52.5%, which management attributed mainly to price realization and reduced material costs. Operating cash flow rose to $237.4 million for the nine months from $216.0 million. During the period, the company issued $50 million of 4.10% Senior Notes due 2023 and repurchased $217.4 million of stock, and its Board authorized an additional $750 million buyback in July 2013, leaving $969.9 million of remaining availability at September 30, 2013. The company reported a $5.5 million restructuring charge in the quarter, and the filing states that no material changes were made to risk factors. It also disclosed that new internal control changes accompanied the rollout of its Blue Ocean program, which management said was not in response to any identified deficiency.

    Nov 8, 2013
  40. 2013-Q2

    Mettler-Toledo International Quarterly Report for Q2 Ended Jun 30, 2013

    Mettler-Toledo International Inc. reported second-quarter 2013 net sales of $578.7 million, up from $570.3 million in the year-earlier quarter, and net earnings of $69.1 million, compared with $61.7 million a year earlier. Diluted earnings per share were $2.24 versus $1.93. For the six months ended June 30, 2013, net sales were $1.103 billion (versus $1.106 billion) and net earnings were $121.6 million (versus $114.0 million), with diluted EPS of $3.93 compared with $3.54. The filing states that local currency net sales increased 1% in the quarter and were flat for the six months, and that global economic conditions remain uncertain. Gross profit as a percentage of net sales improved to 53.4% for the quarter from 52.4%, which the company attributes to increased price realization, reduced material costs and favorable business mix. Operating cash flow was $114.6 million for the six months, up from $112.0 million. Cash and cash equivalents rose to $120.2 million and total debt was $461.7 million at June 30, 2013. Management noted weak sales in China and Europe's food retailing and product inspection markets, offset by growth in the Americas. Capital allocation remained a focus. The company repurchased 680,934 shares for $144.8 million during the six months, had $292.5 million left under its prior repurchase authorization at June 30, 2013, and in July 2013 the board added a $750 million authorization that the company expects to use over the next several years.

    Jul 26, 2013
  41. 2013-Q1

    Mettler-Toledo International Quarterly Report for Q1 Ended Mar 31, 2013

    Mettler-Toledo International Inc. reported net sales of $524.4 million for the three months ended March 31, 2013, down from $535.4 million a year earlier, a decrease of 2% in both U.S. dollars and local currencies. Product sales fell to $401.6 million from $420.0 million, while service revenue rose to $122.7 million from $115.4 million. Net earnings were essentially flat at $52.5 million versus $52.3 million, and diluted earnings per share increased to $1.69 from $1.62, helped by a lower share count of 31.1 million diluted shares versus 32.4 million. Gross margin improved to 53.3% from 51.8%, reflecting price realization, reduced material costs and favorable business mix, partly offset by lower volume. Restructuring charges rose to $5.0 million from $0.3 million, primarily severance costs. Cash flow from operations was $23.7 million compared with $20.8 million in the prior-year quarter, aided by decreased cash incentive payments of approximately $25 million, partly offset by higher tax payments of $11 million. Cash and cash equivalents declined to $93.2 million at March 31, 2013. Total debt was $439.9 million, with $603.1 million of availability under the credit facility. Shareholders' equity fell to $800.2 million, reflected in $72.3 million of share repurchases during the quarter, with $365.1 million remaining under the $2.25 billion repurchase program. Management stated that local currency sales growth is expected to continue to be adversely affected by global economic conditions. Management also noted that there were no material changes to risk factors from the Form 10-K for 2012, and the company is party to legal proceedings that management does not expect to have a material adverse effect.

    May 3, 2013
  42. 2012-Q3

    Mettler-Toledo International Quarterly Report for Q3 Ended Sep 30, 2012

    Mettler-Toledo International Inc. reported net sales of $578.6 million for the three months ended September 30, 2012, compared to $601.1 million in the prior-year period, and net earnings of $72.2 million versus $68.2 million. For the nine months, net sales were $1.684 billion (versus $1.661 billion) and net earnings were $186.2 million (versus $175.2 million). Diluted EPS was $2.28 for the quarter and $5.82 for the nine months, compared with $2.09 and $5.31 a year earlier. Management attributed the quarterly sales decline in U.S. dollars largely to currency effects, noting local-currency net sales rose 1% in the quarter and 4% for the nine months, and it warned that net sales may decline in future quarters given economic conditions, particularly in Europe. Cash flow from operations rose to $216.0 million for the nine months from $177.7 million, aided by higher net earnings and working capital benefits. Cash and equivalents fell to $105.4 million at September 30, 2012, from $235.6 million at year-end 2011, while total debt was $415.6 million. The company repurchased $207.9 million of stock during the nine months, leaving $508.2 million under its $2.25 billion authorization. Restructuring charges rose to $11.3 million for the nine months under a cost-reduction program expected to total about $20 million to $25 million, substantially completed by the end of 2013. In October 2012, the company agreed to a private placement of $50 million of ten-year senior notes at a fixed 3.67% rate, maturing December 2022. Management stated that operating cash flow, the credit facility and local working capital facilities should be sufficient to fund anticipated needs for at least the foreseeable future.

    Nov 2, 2012
  43. 2012-Q2

    Mettler-Toledo International Quarterly Report for Q2 Ended Jun 30, 2012

    Mettler-Toledo International Inc. reported net sales of $570.3 million for the three months ended June 30, 2012, up from $561.1 million a year earlier, and $1.11 billion for the six months, up from $1.06 billion. Net earnings were $61.7 million for the quarter (diluted EPS $1.93, versus $1.82) and $114.0 million for the six months (diluted EPS $3.54, versus $3.23). Management states that local currency net sales increased 6% for the quarter and 7% for the six months, with acquisitions contributing about 1% and 2% respectively, and that the global economic environment has deteriorated, especially in Europe, with lower organic growth expected in the second half of 2012. Profitability was mixed. Gross margin declined to 52.4% for the quarter from 52.8%, attributed to unfavorable business and geographic mix, higher production costs and acquisitions. Restructuring charges rose to $7.8 million in the quarter from $2.0 million, under a cost reduction program expected to total $20 million to $25 million and be substantially completed by the end of 2013. Cash flow from operations was $112.0 million for the six months, up from $93.6 million, while cash and cash equivalents fell to $134.8 million at June 30, 2012 from $235.6 million at year-end 2011, and total debt was $458.8 million. During the six months the company spent $135.8 million repurchasing 797,095 shares, leaving $580.3 million remaining under its $2.25 billion repurchase program. Management states that there were no material changes to risk factors from its 2011 Form 10-K and that it believes operating cash flow and credit facility availability of $544.3 million will be sufficient for its needs.

    Jul 27, 2012
  44. 2012-Q1

    Mettler-Toledo International Quarterly Report for Q1 Ended Mar 31, 2012

    Mettler-Toledo International Inc. reported net sales of $535.4 million for the three months ended March 31, 2012, up from $498.8 million a year earlier, and net earnings of $52.3 million, compared with $46.8 million in the prior-year period. Diluted earnings per share were $1.62, versus $1.41 a year earlier. Gross profit as a percentage of net sales declined to 51.8% from 52.4%, which the company attributed mainly to lower-margin project activity in Chinese core-industrial products, unfavorable business mix and unfavorable currency changes, partly offset by sales volume, price increases and lower material costs. The filing states that acquisitions contributed approximately 2% to net sales growth, and local-currency net sales rose 8%. Cash provided by operating activities was $20.8 million, compared with $6.5 million in the first quarter of 2011, driven mainly by lower inventory and the timing of receivables, partly offset by payables timing. Cash and cash equivalents fell to $156.2 million at March 31, 2012 from $235.6 million at year-end 2011, and total debt was $473.7 million. The company had $531.2 million of availability under its credit facility and $652.3 million remaining under its $2.25 billion share repurchase program. During the quarter it spent $63.7 million repurchasing 361,777 shares at an average price of $176.11. Management stated that it expects local-currency organic sales growth in 2012 to be below the growth rates of 2011 and 2010, and that it is currently difficult to predict how much a global recession would affect results. The company also noted that a 1% strengthening of the Swiss franc against the euro would reduce annual earnings before tax by $1.6 million to $2.2 million.

    May 4, 2012
  45. 2011-Q3

    Mettler-Toledo International Quarterly Report for Q3 Ended Sep 30, 2011

    Mettler-Toledo International Inc. reported third-quarter 2011 total net sales of $601.1 million, up from $490.2 million a year earlier, and net earnings of $68.2 million, compared with $62.1 million in the prior-year quarter. Diluted earnings per share were $2.09, versus $1.82 in the third quarter of 2010. For the nine months ended September 30, 2011, net sales were $1.66 billion and net earnings were $175.2 million, or $5.31 per diluted share. The filing states that sales growth in U.S. dollars was 23% for the quarter and 21% for the nine months, while growth in local currencies was 15% and 14%, respectively. Management notes that unfavorable currency movements weighed on earnings as a percentage of sales, and it expects local currency organic sales growth to slow in coming quarters. Cash and cash equivalents fell to $262.5 million at September 30, 2011, from $447.6 million at December 31, 2010. Operating cash flow was $177.7 million for the nine months, compared with $205.3 million a year earlier, mainly due to higher incentive payments. Capital expenditures rose to $64.5 million, including about $40.6 million tied to the Blue Ocean IT program. The company repurchased $171.2 million of its stock during the nine months and had $749.4 million remaining under its $2.25 billion repurchase program. Total debt was $581.7 million, and $493.0 million was available under the credit facility. The company completed acquisitions in 2011, including a German vision inspection business for $19.4 million in August and an X-ray inspection business in March. Its Chinese operations went live on the Blue Ocean program in the third quarter, which the filing identifies as a source of potential operational and reporting disruption. The filing reports no material legal proceedings and no material changes to risk factors.

    Nov 4, 2011
  46. 2011-Q2

    Mettler-Toledo International Quarterly Report for Q2 Ended Jun 30, 2011

    Mettler-Toledo International Inc. reported strong second-quarter 2011 results in its Form 10-Q filed August 1, 2011. Total net sales for the three months ended June 30, 2011 were $561.1 million, up from $468.5 million a year earlier, and net earnings rose to $60.2 million from $51.3 million. For the six months, net sales reached $1.06 billion versus $885.2 million, and net earnings were $107.0 million versus $89.2 million. Diluted earnings per share were $1.82 for the quarter and $3.23 for the six months, compared with $1.49 and $2.59 in 2010. The filing states that net sales grew 11% and 14% in local currencies for the three and six months, respectively, with product sales growing strongly and service revenue rising more modestly. The balance sheet shows total assets of $2.34 billion and total debt of $633,985 thousand at June 30, 2011, against cash and cash equivalents of $328.8 million, down from $447.6 million at year-end 2010. Cash provided by operating activities fell to $93.6 million from $119.3 million, which the company attributes mainly to about $39 million of higher incentive payments. Capital expenditures increased to $40.5 million, including roughly $26.6 million tied to the Blue Ocean multi-year IT program. The company also spent $114.2 million on share repurchases in the first half and had $806.4 million remaining under its $2.25 billion authorization. Management highlighted several items for investors. Selling, general and administrative expense rose 20% in U.S. dollars, driven by sales and marketing investment, Blue Ocean program costs and acquisition-related expenses. The company completed acquisitions totaling $15.4 million in the first quarter of 2011 and disclosed an August 2011 acquisition for an aggregate price of approximately $22 million. The filing also notes that the Swiss franc strengthened 12% against the euro over the first half, and that disruptions from the Chinese go-live of Blue Ocean are a possible risk.

    Aug 1, 2011
  47. 2011-Q1

    Mettler-Toledo International Quarterly Report for Q1 Ended Mar 31, 2011

    Mettler-Toledo International Inc. reported net sales of $498.8 million for the three months ended March 31, 2011, up from $416.7 million a year earlier, with net sales increasing 20% in U.S. dollars and 17% in local currencies. Gross profit was $261.5 million, or 52.4% of net sales, compared with 52.3% in the prior-year period. Net earnings rose to $46.8 million, or $1.41 per diluted share, from $37.9 million, or $1.10 per diluted share, in the first quarter of 2010. Cash generation weakened in the quarter. Net cash provided by operating activities was $6.5 million, compared with $44.5 million a year earlier, which the company attributed principally to approximately $39 million of increased incentive payments tied to prior-year performance, higher inventory balances and the timing of tax payments. Capital expenditures were $17.6 million, including about $11.1 million related to the Blue Ocean multi-year information technology program. Cash and cash equivalents declined to $388.1 million from $447.6 million at year-end 2010. The company repurchased 354,000 shares for $57.2 million during the quarter, leaving $863.4 million remaining under a $2.25 billion share repurchase program. Total debt was $700.4 million at March 31, 2011, with $380.8 million available under the credit facility. The filing notes that Japan's March 2011 earthquakes make the economic impact uncertain, and that Japan accounted for approximately 3% of consolidated net sales.

    May 5, 2011
  48. 2010-Q3

    Mettler-Toledo International Quarterly Report for Q3 Ended Sep 30, 2010

    Mettler-Toledo International Inc. reported unaudited interim results for the three and nine months ended September 30, 2010. Net sales for the third quarter were $490.2 million, up from $435.7 million a year earlier, and net earnings rose to $62.1 million from $41.5 million, or $1.82 diluted earnings per share versus $1.21. For the nine months, net sales reached $1,375.4 million compared with $1,217.2 million, and net earnings were $151.3 million, or $4.41 diluted EPS, versus $103.2 million and $3.02 a year earlier. The filing states that net sales increased 13% in U.S. dollars for both periods and 14% and 12% in local currencies for the three and nine months, respectively. Third-quarter results benefited from a net discrete tax benefit of $5.2 million, which lowered the effective tax rate to 19%. Balance sheet and cash flow highlights include cash and cash equivalents of $142.9 million at September 30, 2010, total debt of $335.2 million, and shareholders' equity of $755.5 million. Operating cash flow for the nine months was $205.3 million, and the company repurchased 1,310,936 shares for $148.8 million during the period. In November 2010, the Board authorized an additional $750 million of share repurchases, on top of $261.8 million of remaining availability at September 30, 2010. The filing notes that the global economic environment remains uncertain, and that the 4.85% $75 million Senior Notes mature November 15, 2010, with borrowings under the credit facility expected to be used to repay them. Management concluded that disclosure controls and procedures were effective, and no material changes to risk factors were identified from the Company's 2009 Form 10-K. The company reported no material legal proceedings beyond ordinary-course matters.

    Nov 5, 2010
  49. 2010-Q2

    Mettler-Toledo International Quarterly Report for Q2 Ended Jun 30, 2010

    Mettler-Toledo International Inc. reported unaudited results for the three and six months ended June 30, 2010. Net sales for the quarter were $468.5 million, up from $407.4 million in the prior-year quarter, and net earnings were $51.3 million ($1.49 diluted EPS) versus $27.7 million ($0.81 diluted EPS). For the six months, net sales were $885.2 million and net earnings were $89.2 million ($2.59 diluted EPS), compared with $781.5 million and $61.6 million ($1.81 diluted EPS) in 2009. The filing attributes the sales growth to strong product sales, with acquisitions contributing approximately 2% to quarterly net sales growth, and notes that gross margin improved to 52.6% for the quarter from 50.6%. Management also cites rising material costs, including higher costs for certain steel-related items, that began in the second quarter. Balance sheet and cash flow data show cash and cash equivalents of $111.6 million at June 30, 2010, total debt of $295.1 million, and total shareholders' equity of $717.2 million. Operating cash flow for the six months was $119.3 million, and the company spent $72.8 million repurchasing 662,999 shares at an average price of $109.78. Remaining authorization under the $1.5 billion repurchase program was $337.8 million as of June 30, 2010. Management states that the global economic environment remains uncertain, and the company expects annual capital expenditures of approximately $60 million over the next few years. Restructuring charges fell sharply to $1.5 million for the quarter from $14.0 million a year earlier, as the global cost reduction program, which was initiated in the fourth quarter of 2008, nears completion with cumulative charges of $39.7 million against an expected total of approximately $40 million. Selling, general and administrative expenses rose 17% in U.S. dollars for the quarter, driven mainly by performance-related compensation and sales and marketing activity.

    Jul 23, 2010
  50. 2010-Q1

    Mettler-Toledo International Quarterly Report for Q1 Ended Mar 31, 2010

    Mettler-Toledo International Inc. reported first-quarter 2010 total net sales of $416.7 million, up from $374.1 million in the prior-year quarter, and net earnings of $37.9 million, or $1.10 per diluted share, versus $33.9 million, or $1.00 per diluted share, a year earlier. The filing states that net sales rose 11% in U.S. dollars and 6% in local currencies, with acquisitions contributing approximately 1% to growth. Gross profit as a percentage of net sales improved to 52.3% from 50.2%, while selling, general and administrative expenses rose to 32.4% of net sales from 30.5%, driven by performance-related compensation and acquisition-related expenses. The prior-year quarter included an $8.3 million discrete tax benefit, which lowered that period's effective tax rate to 3%; the company projects a 26% annual effective tax rate for 2010. Cash provided by operating activities was $44.5 million, compared with $34.9 million a year earlier. The company repurchased 284,999 shares for $29.2 million during the quarter, with $381.4 million remaining under its $1.5 billion authorization through December 31, 2010. Cash and cash equivalents were $85.9 million at March 31, 2010, and total debt was $296.6 million. The filing notes that the company's Western European and Swiss operations saw weaker external sales in local currencies, and management said it is difficult to predict how the uncertain environment may affect results. Segment results showed Chinese Operations total net sales up 28% in U.S. dollars and segment profit up 49%, while U.S. Operations segment profit rose 20%. The company also completed a January 2010 acquisition of a United Kingdom pipette distributor for approximately $12.5 million, and expects annual capital expenditures of approximately $60 million until its Blue Ocean information technology program is completed.

    Apr 30, 2010