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Donaldson Reports Record Fourth Quarter Earnings

Donaldson Company, Inc. (NYSE: DCI) announced its financial results for its fiscal 2013 fourth quarter. Summarized financial results are as follows (dollars in millions, except per share data):

  Three Months Ended   Twelve Months Ended
July 31 July 31

2013

 

2012

 

Change

2013

 

2012

 

Change

Net sales $633 $657 (4)% $2,437 $2,493 (2)%
Operating income 100 99 1% 343 363 (5)%
Net earnings 73 71 2% 247 264 (6)%
 
Diluted EPS $0.48 $0.47 2% $1.64 $1.73 (5)%
 

“While global economic conditions in many of our end markets remained challenging, we delivered record fourth quarter net income and earnings per share,” said Bill Cook, Donaldson’s CEO. “Our overall sales were down from the fourth quarter of last year primarily due to our Engine Products OEM businesses in the U.S. and Asia and our Industrial Products businesses. However, we also had a number of businesses and regions that saw year-over-year increases. Our Engine Aftermarket sales increased 3 percent from last year and have now grown sequentially for the second straight quarter. Regionally, we achieved strong local currency sales growth in Latin America, India, and our European Engine business in the quarter.”

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