COLUMBUS, Ohio,– Mettler-Toledo International Inc. (NYSE: MTD) today announced first quarter results for 2013. Provided below are the highlights:.

Sales in local currency decreased by 2% in the quarter compared with the prior year. Reported sales also decreased 2%, as currency had no impact on sales in the quarter.

Net earnings per diluted share as reported (EPS) were $1.69, compared with $1.62 in the first quarter of 2012. Adjusted EPS was $1.84, an increase of 11% over the prior-year amount of $1.66. Adjusted EPS is a non-GAAP measure and excludes purchased intangible amortization, discrete tax items, restructuring charges and other one-time items. A reconciliation to EPS is provided on the last page of the attached schedules.

First Quarter Results

Olivier Filliol, President and Chief Executive Officer, stated, “Market conditions were challenging, particularly in Europe and Asia. However, I am pleased to report that we continue to have strong execution in our various margin improvement and cost control initiatives, resulting in good EPS growth.”

EPS was $1.69, compared with the prior-year amount of $1.62. Adjusted EPS was $1.84, an increase of 11% over the prior-year amount of $1.66.

Sales were $524.4 million, a 2% decrease in local currency sales, compared with $535.4 million in the prior-year quarter. Reported sales also decreased 2%, as currency had no impact on sales in the quarter. By region, local currency sales increased 1% in the Americas and decreased 5% in Europe and decreased 2% in Asia / Rest of World. Adjusted operating income amounted to $85.4 million, a 6% increase from the prior-year amount of $80.8 million. Adjusted operating income is a non-GAAP measure, and a reconciliation to earnings before taxes is provided in the attached schedules.

Cash flow from operations was $23.7 million, compared with $20.8 million in the prior-year quarter.

Cost Control Measures

As part of the cost control measures announced in the second quarter of 2012, the Company recorded pre-tax restructuring charges of $5.0 million in the quarter.

Outlook

The Company updated its outlook for 2013 and noted that uncertainty in demand exists in most of its markets, which makes forecasting difficult. Based on today’s assessment, management anticipates that local currency sales growth in 2013 will be in the range of 1% to 3%, with growth stronger in the second half of the year. This sales growth will result in Adjusted EPS in the range of $10.40 to $10.60, an increase of 8% to 10%. This compares to previous guidance of Adjusted EPS in the range of $10.30 to $10.55.

The Company stated that, based on its assessment of market conditions today, management anticipates that local currency sales growth for the second quarter of 2013 will be in the range of 0% to 2%, and Adjusted EPS will be in the range of $2.30 to $2.35, an increase of 7% to 9%.

Adjusted EPS excludes purchased intangible amortization, discrete tax items, restructuring charges and other one-time items. 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.

Conclusion

Filliol concluded, “While market conditions remain challenging with significant uncertainty in the global economy, we expect conditions to improve as the year progresses. We made adjustments to our cost structure last year in anticipation of slower market growth. Therefore, while we will continue to monitor the environment closely, we believe we are well positioned to expand margins despite modest sales growth expectations for the year. We remain focused on the execution of our strategic initiatives and continue to see opportunities to further gain market share, despite the environment.”

Other Matters

The Company will host a conference call to discuss its quarterly results today (Thursday, May 2) 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 is a leading global supplier of precision instruments and services. The Company has strong leadership positions in all businesses and believes it holds global number-one market positions in a majority of them. Specifically, METTLER TOLEDO is the largest provider of weighing instruments for use in laboratory, industrial and food retailing applications. The Company is also a leading provider in analytical instruments for use in life science, reaction engineering and real-time analytic systems used in drug and chemical compound development and process analytics instruments used for in-line measurement in production processes. In addition, METTLER TOLEDO is the largest supplier of end-of-line inspection systems used in production and packaging for food, pharmaceutical and other industries. Additional information about METTLER TOLEDO can be found at www.mt.com/investors.