Mettler-Toledo International Inc. Reports First Quarter 2017 Results

For the second quarter 2017, local currency sales growth is expected to be in the range of 8% to 9% and Adjusted EPS in the range of $3.85 to $3.90, an increase of 20% to 21%. 

While the Company has provided an outlook for Adjusted EPS, it has not provided an outlook for EPS as it would require an estimate of non-recurring items, which are not yet known.  The Company noted in making its outlook that economic uncertainty remains in certain regions of the world and market conditions are subject to change.   

Conclusion

Filliol concluded, "We have a strong start to the year as we capitalize on favorable market conditions and continue to execute well.  Our growth initiatives have good momentum and include our Field Turbo investments, Spinnaker sales and marketing initiatives and new product launches.  We also continue to make good progress with our margin and productivity initiatives.  While current market conditions are positive, we will face more challenging comparisons as the year progresses.  With the promising start to the year, we are optimistic that we will deliver a strong performance in 2017."    

Other Matters

The Company will host a conference call to discuss its quarterly results today (Thursday, May 4) at 5:00 p.m. Eastern Time.  To hear a live webcast or replay of the call, visit the investor relations page on the Company's website at www.mt.com/investors.  The presentation referenced in the conference call will be located on the website prior to the call.

METTLER TOLEDO (NYSE: MTD) is a leading global supplier of precision instruments and services. We have strong leadership positions in all of our businesses and believe we hold global number-one market positions in most of them. We are recognized as an innovation leader and our solutions are critical in key R&D, quality control, and manufacturing processes for customers in a wide range of industries including life sciences, food, and chemicals. Our sales and service network is one of the most extensive in the industry. Our products are sold in more than 140 countries and we have a direct presence in approximately 40 countries. With proven growth strategies and a focus on execution, we have achieved a long-term track record of strong financial performance. For more information, please visit www.mt.com.

Statements in this press release which are not historical facts constitute "forward-looking statements" within the meaning of Section 27A of the U.S. Securities Act of 1933 and Section 21E of the U.S. Securities Exchange Act of 1934.  These statements involve known and unknown risks, uncertainties and other factors that may cause our or our businesses' actual results, levels of activity, performance or achievements to be materially different from those expressed or implied by any forward-looking statements.  In some cases, you can identify forward-looking statements by terminology such as "may," "will," "could," "would," "should," "expect," "plan," "anticipate," "intend," "believe," "estimate," "predict," "potential" or "continue" or the negative of those terms or other comparable terminology.  For a discussion of these risks and uncertainties, please see the discussion on forward-looking statements in our current report on Form 8-K to which this release has been furnished as an exhibit.  All of the forward-looking statements are qualified in their entirety by reference to the factors discussed under the captions "Factors affecting our future operating results" and in the "Business" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" sections of our annual report on Form 10-K for the most recently completed fiscal year, which describe risks and factors that could cause results to differ materially from those projected in those forward-looking statements.  

METTLER-TOLEDO INTERNATIONAL INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
(amounts in thousands except share data)
(unaudited)
				Three months ended									Three months ended
			March 31, 2017				% of sales					March 31, 2016				% of sales
Net sales				$594,567		(a)		100.0					$539,674				100.0
Cost of sales				251,667				42.3					239,767				44.4
Gross profit				342,900				57.7					299,907				55.6
Research and development				31,392				5.3					28,973				5.4
Selling, general and administrative				184,172				31.0					168,921				31.3
Amortization				10,045				1.7					8,424				1.6
Interest expense				7,741				1.3					6,580				1.2
Restructuring charges				1,432				0.2					880				0.2
Other charges (income), net				(5,730)		(b)		(0.9)					(284)				(0.1)
Earnings before taxes				113,848				19.1					86,413				16.0
Provision for taxes				21,382				3.5					20,739				3.8
Net earnings				$92,466				15.6					$65,674				12.2
Basic earnings per common share:
Net earnings				$3.57									$2.44
Weighted average number of common shares				25,932,112									26,931,293
Diluted earnings per common share:
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