“Our long-term expectations are to grow sales between 6% and 10% annually. Even though we will fall short of this goal this year, we believe we are well-positioned to achieve this growth going forward. We believe we possess a solid foundation for future long-term growth based upon the many initiatives we continue to develop including adding new heavy-duty engine filtration distributors and broadening our product offerings both in the U.S. and abroad. The oil and gas filtration industry remains strong, and we feel as good about our position in this filtration market as we do with any other market. Moreover, with an approximate 80% company-wide mix of aftermarket business, we believe we are well-positioned within a growing filtration industry to continue to capitalize on future profitable growth opportunities including our ability to share our advanced media development technology across our diverse business units.”
Estimated full-year sales growth as compared with 2011 and 2012 operating margin by segment and on a consolidated basis are as follows:
|2012 Estimated Sales Growth||2012 Estimated Operating Margin|
|Engine/Mobile Filtration||0.0% to 1.0%||21.5% to 22.5%|
|Industrial/Environmental Filtration||3.0% to 5.0%||11.0% to 12.0%|
|Packaging||-16.0% to -12.0%||8.5% to 9.5%|
|CLARCOR||0.0% to 2.0%||15.5% to 16.5%|
Our fiscal year 2011 included fifty-three weeks while our fiscal year 2012 will include fifty-two weeks. In addition, our fourth quarter 2011 included fourteen weeks while our fourth quarter 2012 will include thirteen weeks. We estimate that the additional week in the fiscal year and fourth quarter of 2011 will impact net sales and operating profit growth comparisons to comparable periods in 2012 by 2% for the full year and 7% for the fourth quarter.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV