fiscal first-quarter net income climbed 12% amid improved sales of its engine parts.
The Minneapolis-based maker of filtration products said that its earnings for the quarter ended Oct. 31 increased to $36 million, or 43 cents a share, from $32.2 million, or 37 cents a share, a year ago. The earnings per share matched Thomson First Call's average analyst estimate.
Donaldson's sales for the quarter rose 11% from a year ago to $446.4 million, topping analysts' expectation of 441.97 million.
"Sales in both our Engine and Industrial Products segments were up 11 percent, and our incoming orders remain strong," Donaldson said. "Our plants around the world are operating very well. The start-ups at our new plants in China and the Czech Republic have been completed, and they are now up and running per our plans."
For fiscal 2007, the company expects earnings of $1.72 to $1.82 a share, in line with analysts' mean estimate of $1.76.
Shares of Donaldson were trading up $1.60, or 4.3%, to $38.60 in after-hours trading.
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