Donaldson fiscal 1Q net income rises 14 pct

Donaldson posts 14 pct increase in fiscal 1st-qtr net income as customer demand stabilizes

Associated Press

NEWS: Donaldson Co., which makes filtration systems, said Thursday that its fiscal first-quarter net income increased 14 percent, as customer demand for some of its products stabilized.

DETAILS: Excluding the effects of currency exchange rates, sales of engine products rose 7 percent, helped by higher sales of aftermarket, aerospace and defense products.

NUMBERS: For the quarter ended Oct. 31, Donaldson earned $62 million, or 41 cents per share, up from $54 million, or 36 cents per share, in the same quarter of 2012. Revenue rose 2 percent to $599 million from $589 million.

Analysts expected a profit of 40 cents per share on $598.4 million in revenue, according to FactSet.

FUTURE: For the full year, the company said it expects its fiscal 2014 profit to total between $1.65 and $1.85 per share.

Revenue is expected to total between $2.45 billion and $2.55 billion, which would represent an increase of between 1 percent and 5 percent from year-ago levels.

Analysts, on average, expect a profit of $1.79 per share on $2.51 billion in revenue.

STOCK: Donaldson shares rose $1.48, or 3.8 percent, to $40.65 in afternoon trading after hitting an all-time high of $41.34 earlier in the day.

Rates

View Comments (0)