Which stock had a better net profit margin during the last few years?

ALBEMARLE CORP. NYSE-AL PRICE 50.75 pano 14.5 (Note1935) PEAKS 0.91 1.1% VALUE 12.7 8.3 165 11.0 154 110 20.3 13.5 19,8 373 192 160 488 329 450 162 376 15.5 LINE Target Price Range 2013 2014 2015 512 345 TIMELINESS 1 Rated 5710 High Low 83 73 SAFETY 3 1121 LEGENDS Or Chesh TECHNICAL 3 Rahat 10-20 10 Reliver 1 301 BETA 125 1.00 Os 2013-15 PROJECTIONS SA Anni Total Price Return 85 (465) 15 55:10 Insider Decisions 2- M -64 32 -24 00 Percent 111 whares TIT 16 12 Institutional Decisions STOT. RETURN 10/10 000 Thes WITH BROCK 15 119 112 MOER 10 ty 60 100 114 125 raded 70464 71834 67607 100 sy 7.7 sy 2071 Albemarle was incorporated in Virginia in 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 VALUE LINE PUB, NC 513-15 November of 1993 and was a wholly-owned 1001 10.00 11.16 13.49 18.06 22:54 24.97 24.66 subsidiary of Ethyl Corporation. On Febru- 27.12 21.00 20.20 27.65 Sales per the 31.55 1.85 1.61 1.82 200 20 3.27 3.59 3.67 ary 28, 1994, Ethyl spunoff to its common 3.18 45 5.05 "Cash Flowperth 85 104 .75 89 .78 92 1.15 2.00 240 2.40 1.94 3.45 1.70 Earnings perth 465 shareholders al of the outstanding shares of 23 26 27 24 29 31 34 41 47 50 55 Albemarle, including Ethy's olefins and 59 DIVds Decl d perth 57 55 46 50 60 75 1.06 1104 1.10 1.11 15 derivatives, bromine chemicals 1.30 Cap 1 Spending perth 1.55 and 6.10 6.52 7.73 8.49 10M 11.71 13.22 15.60 17:20 Book Value per sh specially chemicals businesses. Since that 22.30 91.65 91.00 8338 231 83.80 9050 94.86 943 91.51 time, Albemarle has been a publicly traded 0.00 50.00 Common Shs Outs 35.00 10.1 148 170 174 175 158 128 17,0 143 152 Bore Avg Ann PE Ratio 13.0 company on the New York Stock Exchange 66 76 93 99 92 84 .69 91 86 105 Vine under the ticker ALB Relative PE Ratio 1.00 2.2% 24% 1.9% 2.15 18% 1.1 13% 1.0% 184 Aug Ann Dvd Yield 115 CAPITAL STRUCTURE as of 30/10 917.5 9169 9802 11102 15137 21075 23685 2332 24871 2005.4 2490 Sales 2850 Total Debt5765.8 mil Due in 5 yrs $10.2 mil. 23.5% 19.45 18.5% 168 | 14% 13.0% 15.8% 18.15 15.5% 13.5% 100% 18.5% Operating Margin LT Debt $7556 LT Interest $393 mil 73.8 776 806 84.0 973 1174 113.0 1069 111.7 100.5 110 120 Depreciation 170 (35% of Capt 962 692 71.7 65.4 768 109.7 1970 189.6 310 Jus Net Proti 395 31.0% 30.3% 278 12.0% 28.121.5% 1484 20.2% Leases, Uncapitalized Arenas $7.9 mill 6.4% 15.3 17.04 1805 Income Tax Rate 20.01 10.5% 7.5% 73% 5.9% 5.15 525 8.3% 100% 90% 95% 11% 13.53 Net Profit Margin 12.9% 173.1 799 2011 Pension Assets 12/09-5327.1 mil. Oblig. 54662 2713 373.6 45134779 650.5 7405 6737 710 100 Working Cap' (Smil 900 97.7 124 180.1 228.4 899,6 775.96819 7073 9061 7764 75 750 Long-Term Debt (Smil 800 Pld Stock None 5589 5033 8982 7114 9303 1028.1 1278.31085812057 1405 1550 SM. Equity 1980 Common Stock 91,390,027 shs 15.1% 11.5% 9.99 79 53% 76% 127 12.7% 1225 8.0% 18.351.0 Return on Total Cap1 14.5% as of 102510 172117 126% 10.3% 10% 11.8% 1925 MARKET CAP: 54.6 Blon Mid Cap 18.2% 20% 15. 2205 21.53 Return on Shi. Equity 7.6% 6.8% 72 CURRENT POSITION 8.9% 16.15 15.15 16.9% 10,9% 18.5% 17.5% Retained to Com Eq 2008 2009 W30/10 18.05 SELL) 215 345 32% 35% 30% 245 18 17 198 185 16% Al Divds to Net Prof 155 company on the New York Stock Exchange under the ticker ALB. CAPITAL STRUCTURE as of 93010 BOA 93 VA Relate PE Ratio 225 245 198 211 1 ME Avg Anni Dield 9115 9169 96024125121075 23515232 2487120084 2360 20080 Sales Sill 23.519.4 18.53 16.6 14 13 15 15 13:34 18.05 18.5 Operating Margin 738 77.8 840 913) 1174 1130 100% 17 1005 110 120 Depreciation (Sill 96.2 692 71.1 654 768 109.1 1970 282 20122 1896 310 335 Net Profit Smit 31.0% 30.3% 2789 12.04.2015 2151 2024 E 153% 17.0% 18.0% Income Tax Rate 10.5% 7:51. 11 $95 5.24 834 TODA 9.PL 9.5% 11.15 13.5% Net Profit Margin 173.1 799 248 271313136 4510 7405 673.7 710 800 Working Cap'l mill 97.7 122 1801 2284 89967759 6819 707 7784 750 750 Long-Term Debt (Smil 558.4 5933 SES 6362 7114 9003 10211278 1045 12081 1405 1550 Shr. Equity Smil 15.15 11.5 9.9% 797 534 7.6" 12.7% 12% 80% 15.5% 15.05 Return on Total Cap1 172% 11. 1264 10.34 10.8% 11.8% 1924 18.2% 20.8% 15% 2204 21.5% Return on She Equity 13.7% 7 6.64 724 8.95 16.1% 15.15 16.9 10.416.55 17.5% Retained to Com Eq 215 34% 32 35% 245 165, 195 20% 16% 165 All DVds to Net Prof 15.0 1.00 LIS 2850 19.0% 170 395 200% 12.9% 900 900 1980 105% Total Debt $765.8 mil. Due in 5 yrs $102 mil LT Debt $755,6 mill. LT Interest $39.3 mil (35% of Cap) Leases, Uncapitalized Annual rentals $7.9 mil. Pension Assets 12/09-53271 mil Oblig. $466.2 Pld Stock None Common Stock 91,990.027 shs. as of 10/25/10 MARKET CAP: 54.6 billion Mid Cap) CURRENT POSMON 2008 2009 9/30/10 SULL) $15 4719 BEN 2005 1805 334 1 195 32 355 2004 2806304 2765 CURRENT POSION 2008 2009 930/10 215 SMILL! 34% 24% 16% 17% 1944 284 18% 16% AR DIVds to Net Prof 155 Cash Assets 253.3 3088 4247 BUSINESS: Albemarle Corps manufacturer of chemicals that chemicals, including fame retardants. polymer curatives, and Receivables Inventory LIFO) 538.9 4312 4188 are additives to or intermediates for plastic polymers and antioxidants. Has approximately 4130 employees. OIL & dir own Other 106.1 543 92.1 elastomers, agricultural compounds, and pharmaceuticals. The 1.5 of common stock FMR, 15.0% Black Rock, 5.6% (3/10 Current Assets 11789 10321 12121 company currently operates through its polymer solutions (35% of prory) CEO & President Mark Rohr. Chairman: William Gottwald, Accts Payable 2243 171.4 1872 2009 sales, catalysts (40%) and fine chemicals (25) divisions Inc. VA Addr: Baton Rouge Tower, 451 Florida SL, Baton Rouge, Debt Dud 262 363 10.2 ALBS polymer chemicals business produces broad range of LA 70801. Tel. 225-385 7402. Internet: www.aber.com Other 1879 1507 150 Current Lab Albemarle's third quarter share net Bromine and its Derivatives, and decent came in at $1.02. far above expecta demand for hydroprocessing catalysts, ANNUAL RATES Past Past Esrd 07.00 tions. This compares to the year ago tig: Our 2010 earnings tally would be change per 10 Y SY. 10 13:15 Sales 17.0% 55 ure of $0.57. and consensus of around higher but for a supply shortage of Cash Flow 9.5% 15.0% 8.55 $0.65 Margins widened substantially Lanthanuma rare earth element). Earings 24.0 13 01 Dvidends 100% thanks to price gains, higher unit sales. Lanthanum is used as a raw material in 8.5% Book Value 100% 6.5 and greater capacity utilization. Polymer the manufacture of Albemarle's Fluid Solutions sales rose 18. to $232 million, Cracking Catalyst (FCC) products. This 1204 130 115 9.5% PALL CORP. NYSE-PL 43.32 BATO Kino 22.0 (2:13) AN 1.38 1.5% VALUE 2 High 1721 178 245 143 Eze 15.0 262 430 02 432 216 162 LINE Target Price Range 2013 2014 2015 130 44.7 318 LEGENDS TON TIMELINESS 3 SAFETY 2 TECHNICAL 4 LINI BEAM 2013-15 PROJECTIONS Gain Ano ES be PALL CORP. NYSEFUL RECENT PRICE 43.32 22.0 (120) M 1.38 1.5% VALUE 23 1888 40 43 LINE Tural Price Range 2015 2014 2015 TENOS 316 TIMELINESS 3 SAFETY 2 we TECHNICAL 4 L10220 1 2013-15 PROJECTIONS Apte Mise Cain EP IN Insider Decisions 12 Institutional Decisions TOT. RETURN 1010 IN 109 340210223 TE 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 8.00 7.10 IRUNEN:15 19.00 1051 1.10 13.20 1 LA 15:30 22 18 21. sales per N 171 156 120 IN 21 18 153 200 1 24 2.5 Cash Flow 41 1.18 50 20 IN 1 54 1.12 IN 184 2.11 Earnings 12 3 10 4 50 AD du 509 re TI 110 611 114 69 5.80 145 Cap TRE 6.23 82 8.66 155 994 Valeh SON M ESTE SEST TEEN Common Show 11 TU THE TYZ Ang ATMER 12 12 1 139 12 21% 2.15 122.5 132 14 2 20 315 Relative Me Rate 195 1.5 1 21 11 CAPITAL STRUCTURE OVO Ay And Yeld LAS Toe Dee IN 1236.428 1130 1770 1023 N 25110 22 2013 in Tra 2 LTD 2018 Terra 15 Includes onde HO . Depreciation 100 72103 10211213 Orx Pension 3 21 22 2 23 301 11.15 202 honum 1 hagin Lengd 1213 AT 4 10360 73 TRE 22 150 5102 00 SOLE 147.1 SI NA was om te doen PH Stock None 13. MA 11400223 Commentek 1 11 S 11 10. M 127 128 12 Art mo Total Capi MARKET CAPS1 Mon Large Cup 15:45 120 18.15.11.200 SOR CURRENT POSITION 2008 TOTS ON 75 AN 111 MUNU Reded to con 2008 110 15. IMULD 2 30% SON 37% ALDA 2 RININ mo CURRENT POSITION 2009 2010 10% 100 315 38 30 2. M D Met hel Cash 4541 4140 40S BUSINESS: Pal Oorporis intention Recev 8171 RLD 10. Mes 50 ory 4300 One 4132 415.0 seperti Bu Seness. Onced de 10 of common 21 722 415 of 10 weddion Ceren LG 104.88 100 CA 10. 10/04 1700 ipharma 10, which des Donald Svend CLO Acchia 2007 2173 Generid & Nad NY. Adans 2200 Bar, Easyon Debt Due Moderne Decladoras 11548. Telephone: 016-84-5401 weet wwwpot.com ore Current EXO - We look for Pall Corp. to report fiscal using the proceeds to redeem 280 million ANNUAL RATES P 2011 share net of around $2.15 year of 60 notes due 2012. Free cash flow can be Sends July 31st), Organic revenue growth should tally about 50.80 share in 2011, Sale BE of 6% is expected. The Industrial ment and will probably be used to acquire minor 155 709 Cash Flow 7.55 SO 19.99 should lead the way, thanks to increased biotech firms. Historically, Pall has gener OSOS 75% capacity use and higher com conated stronger free cash flow in the second 50 35 80s fidence in the Life Sciences segment half of its heal years. We are looking for Biopharma sales are likely to be the main capital expenditures of approximately 19 ALBEMARLE CORP. NYSE-AL PRICE 50.75 pano 14.5 (Note1935) PEAKS 0.91 1.1% VALUE 12.7 8.3 165 11.0 154 110 20.3 13.5 19,8 373 192 160 488 329 450 162 376 15.5 LINE Target Price Range 2013 2014 2015 512 345 TIMELINESS 1 Rated 5710 High Low 83 73 SAFETY 3 1121 LEGENDS Or Chesh TECHNICAL 3 Rahat 10-20 10 Reliver 1 301 BETA 125 1.00 Os 2013-15 PROJECTIONS SA Anni Total Price Return 85 (465) 15 55:10 Insider Decisions 2- M -64 32 -24 00 Percent 111 whares TIT 16 12 Institutional Decisions STOT. RETURN 10/10 000 Thes WITH BROCK 15 119 112 MOER 10 ty 60 100 114 125 raded 70464 71834 67607 100 sy 7.7 sy 2071 Albemarle was incorporated in Virginia in 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 VALUE LINE PUB, NC 513-15 November of 1993 and was a wholly-owned 1001 10.00 11.16 13.49 18.06 22:54 24.97 24.66 subsidiary of Ethyl Corporation. On Febru- 27.12 21.00 20.20 27.65 Sales per the 31.55 1.85 1.61 1.82 200 20 3.27 3.59 3.67 ary 28, 1994, Ethyl spunoff to its common 3.18 45 5.05 "Cash Flowperth 85 104 .75 89 .78 92 1.15 2.00 240 2.40 1.94 3.45 1.70 Earnings perth 465 shareholders al of the outstanding shares of 23 26 27 24 29 31 34 41 47 50 55 Albemarle, including Ethy's olefins and 59 DIVds Decl d perth 57 55 46 50 60 75 1.06 1104 1.10 1.11 15 derivatives, bromine chemicals 1.30 Cap 1 Spending perth 1.55 and 6.10 6.52 7.73 8.49 10M 11.71 13.22 15.60 17:20 Book Value per sh specially chemicals businesses. Since that 22.30 91.65 91.00 8338 231 83.80 9050 94.86 943 91.51 time, Albemarle has been a publicly traded 0.00 50.00 Common Shs Outs 35.00 10.1 148 170 174 175 158 128 17,0 143 152 Bore Avg Ann PE Ratio 13.0 company on the New York Stock Exchange 66 76 93 99 92 84 .69 91 86 105 Vine under the ticker ALB Relative PE Ratio 1.00 2.2% 24% 1.9% 2.15 18% 1.1 13% 1.0% 184 Aug Ann Dvd Yield 115 CAPITAL STRUCTURE as of 30/10 917.5 9169 9802 11102 15137 21075 23685 2332 24871 2005.4 2490 Sales 2850 Total Debt5765.8 mil Due in 5 yrs $10.2 mil. 23.5% 19.45 18.5% 168 | 14% 13.0% 15.8% 18.15 15.5% 13.5% 100% 18.5% Operating Margin LT Debt $7556 LT Interest $393 mil 73.8 776 806 84.0 973 1174 113.0 1069 111.7 100.5 110 120 Depreciation 170 (35% of Capt 962 692 71.7 65.4 768 109.7 1970 189.6 310 Jus Net Proti 395 31.0% 30.3% 278 12.0% 28.121.5% 1484 20.2% Leases, Uncapitalized Arenas $7.9 mill 6.4% 15.3 17.04 1805 Income Tax Rate 20.01 10.5% 7.5% 73% 5.9% 5.15 525 8.3% 100% 90% 95% 11% 13.53 Net Profit Margin 12.9% 173.1 799 2011 Pension Assets 12/09-5327.1 mil. Oblig. 54662 2713 373.6 45134779 650.5 7405 6737 710 100 Working Cap' (Smil 900 97.7 124 180.1 228.4 899,6 775.96819 7073 9061 7764 75 750 Long-Term Debt (Smil 800 Pld Stock None 5589 5033 8982 7114 9303 1028.1 1278.31085812057 1405 1550 SM. Equity 1980 Common Stock 91,390,027 shs 15.1% 11.5% 9.99 79 53% 76% 127 12.7% 1225 8.0% 18.351.0 Return on Total Cap1 14.5% as of 102510 172117 126% 10.3% 10% 11.8% 1925 MARKET CAP: 54.6 Blon Mid Cap 18.2% 20% 15. 2205 21.53 Return on Shi. Equity 7.6% 6.8% 72 CURRENT POSITION 8.9% 16.15 15.15 16.9% 10,9% 18.5% 17.5% Retained to Com Eq 2008 2009 W30/10 18.05 SELL) 215 345 32% 35% 30% 245 18 17 198 185 16% Al Divds to Net Prof 155 company on the New York Stock Exchange under the ticker ALB. CAPITAL STRUCTURE as of 93010 BOA 93 VA Relate PE Ratio 225 245 198 211 1 ME Avg Anni Dield 9115 9169 96024125121075 23515232 2487120084 2360 20080 Sales Sill 23.519.4 18.53 16.6 14 13 15 15 13:34 18.05 18.5 Operating Margin 738 77.8 840 913) 1174 1130 100% 17 1005 110 120 Depreciation (Sill 96.2 692 71.1 654 768 109.1 1970 282 20122 1896 310 335 Net Profit Smit 31.0% 30.3% 2789 12.04.2015 2151 2024 E 153% 17.0% 18.0% Income Tax Rate 10.5% 7:51. 11 $95 5.24 834 TODA 9.PL 9.5% 11.15 13.5% Net Profit Margin 173.1 799 248 271313136 4510 7405 673.7 710 800 Working Cap'l mill 97.7 122 1801 2284 89967759 6819 707 7784 750 750 Long-Term Debt (Smil 558.4 5933 SES 6362 7114 9003 10211278 1045 12081 1405 1550 Shr. Equity Smil 15.15 11.5 9.9% 797 534 7.6" 12.7% 12% 80% 15.5% 15.05 Return on Total Cap1 172% 11. 1264 10.34 10.8% 11.8% 1924 18.2% 20.8% 15% 2204 21.5% Return on She Equity 13.7% 7 6.64 724 8.95 16.1% 15.15 16.9 10.416.55 17.5% Retained to Com Eq 215 34% 32 35% 245 165, 195 20% 16% 165 All DVds to Net Prof 15.0 1.00 LIS 2850 19.0% 170 395 200% 12.9% 900 900 1980 105% Total Debt $765.8 mil. Due in 5 yrs $102 mil LT Debt $755,6 mill. LT Interest $39.3 mil (35% of Cap) Leases, Uncapitalized Annual rentals $7.9 mil. Pension Assets 12/09-53271 mil Oblig. $466.2 Pld Stock None Common Stock 91,990.027 shs. as of 10/25/10 MARKET CAP: 54.6 billion Mid Cap) CURRENT POSMON 2008 2009 9/30/10 SULL) $15 4719 BEN 2005 1805 334 1 195 32 355 2004 2806304 2765 CURRENT POSION 2008 2009 930/10 215 SMILL! 34% 24% 16% 17% 1944 284 18% 16% AR DIVds to Net Prof 155 Cash Assets 253.3 3088 4247 BUSINESS: Albemarle Corps manufacturer of chemicals that chemicals, including fame retardants. polymer curatives, and Receivables Inventory LIFO) 538.9 4312 4188 are additives to or intermediates for plastic polymers and antioxidants. Has approximately 4130 employees. OIL & dir own Other 106.1 543 92.1 elastomers, agricultural compounds, and pharmaceuticals. The 1.5 of common stock FMR, 15.0% Black Rock, 5.6% (3/10 Current Assets 11789 10321 12121 company currently operates through its polymer solutions (35% of prory) CEO & President Mark Rohr. Chairman: William Gottwald, Accts Payable 2243 171.4 1872 2009 sales, catalysts (40%) and fine chemicals (25) divisions Inc. VA Addr: Baton Rouge Tower, 451 Florida SL, Baton Rouge, Debt Dud 262 363 10.2 ALBS polymer chemicals business produces broad range of LA 70801. Tel. 225-385 7402. Internet: www.aber.com Other 1879 1507 150 Current Lab Albemarle's third quarter share net Bromine and its Derivatives, and decent came in at $1.02. far above expecta demand for hydroprocessing catalysts, ANNUAL RATES Past Past Esrd 07.00 tions. This compares to the year ago tig: Our 2010 earnings tally would be change per 10 Y SY. 10 13:15 Sales 17.0% 55 ure of $0.57. and consensus of around higher but for a supply shortage of Cash Flow 9.5% 15.0% 8.55 $0.65 Margins widened substantially Lanthanuma rare earth element). Earings 24.0 13 01 Dvidends 100% thanks to price gains, higher unit sales. Lanthanum is used as a raw material in 8.5% Book Value 100% 6.5 and greater capacity utilization. Polymer the manufacture of Albemarle's Fluid Solutions sales rose 18. to $232 million, Cracking Catalyst (FCC) products. This 1204 130 115 9.5% PALL CORP. NYSE-PL 43.32 BATO Kino 22.0 (2:13) AN 1.38 1.5% VALUE 2 High 1721 178 245 143 Eze 15.0 262 430 02 432 216 162 LINE Target Price Range 2013 2014 2015 130 44.7 318 LEGENDS TON TIMELINESS 3 SAFETY 2 TECHNICAL 4 LINI BEAM 2013-15 PROJECTIONS Gain Ano ES be PALL CORP. NYSEFUL RECENT PRICE 43.32 22.0 (120) M 1.38 1.5% VALUE 23 1888 40 43 LINE Tural Price Range 2015 2014 2015 TENOS 316 TIMELINESS 3 SAFETY 2 we TECHNICAL 4 L10220 1 2013-15 PROJECTIONS Apte Mise Cain EP IN Insider Decisions 12 Institutional Decisions TOT. RETURN 1010 IN 109 340210223 TE 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 8.00 7.10 IRUNEN:15 19.00 1051 1.10 13.20 1 LA 15:30 22 18 21. sales per N 171 156 120 IN 21 18 153 200 1 24 2.5 Cash Flow 41 1.18 50 20 IN 1 54 1.12 IN 184 2.11 Earnings 12 3 10 4 50 AD du 509 re TI 110 611 114 69 5.80 145 Cap TRE 6.23 82 8.66 155 994 Valeh SON M ESTE SEST TEEN Common Show 11 TU THE TYZ Ang ATMER 12 12 1 139 12 21% 2.15 122.5 132 14 2 20 315 Relative Me Rate 195 1.5 1 21 11 CAPITAL STRUCTURE OVO Ay And Yeld LAS Toe Dee IN 1236.428 1130 1770 1023 N 25110 22 2013 in Tra 2 LTD 2018 Terra 15 Includes onde HO . Depreciation 100 72103 10211213 Orx Pension 3 21 22 2 23 301 11.15 202 honum 1 hagin Lengd 1213 AT 4 10360 73 TRE 22 150 5102 00 SOLE 147.1 SI NA was om te doen PH Stock None 13. MA 11400223 Commentek 1 11 S 11 10. M 127 128 12 Art mo Total Capi MARKET CAPS1 Mon Large Cup 15:45 120 18.15.11.200 SOR CURRENT POSITION 2008 TOTS ON 75 AN 111 MUNU Reded to con 2008 110 15. IMULD 2 30% SON 37% ALDA 2 RININ mo CURRENT POSITION 2009 2010 10% 100 315 38 30 2. M D Met hel Cash 4541 4140 40S BUSINESS: Pal Oorporis intention Recev 8171 RLD 10. Mes 50 ory 4300 One 4132 415.0 seperti Bu Seness. Onced de 10 of common 21 722 415 of 10 weddion Ceren LG 104.88 100 CA 10. 10/04 1700 ipharma 10, which des Donald Svend CLO Acchia 2007 2173 Generid & Nad NY. Adans 2200 Bar, Easyon Debt Due Moderne Decladoras 11548. Telephone: 016-84-5401 weet wwwpot.com ore Current EXO - We look for Pall Corp. to report fiscal using the proceeds to redeem 280 million ANNUAL RATES P 2011 share net of around $2.15 year of 60 notes due 2012. Free cash flow can be Sends July 31st), Organic revenue growth should tally about 50.80 share in 2011, Sale BE of 6% is expected. The Industrial ment and will probably be used to acquire minor 155 709 Cash Flow 7.55 SO 19.99 should lead the way, thanks to increased biotech firms. Historically, Pall has gener OSOS 75% capacity use and higher com conated stronger free cash flow in the second 50 35 80s fidence in the Life Sciences segment half of its heal years. We are looking for Biopharma sales are likely to be the main capital expenditures of approximately 19