Donaldson Q3 Profit Down, Cuts FY14 Guidance - Quick Facts

(RTTNews) - Filtration systems provider Donaldson Company, Inc. (DCI) posted third-quarter net earnings of $67 million compared with $70 million in the prior-year quarter.

Earnings per share stood flat at $0.46. On average, 11 analysts polled by Thomson Reuters expected earnings per share of $0.47 for the quarter. Analysts' estimates typically exclude one-time items.

However, net sales for the quarter slightly increased to $624 million from $619 million last year and missed consensus estimate of $634.83 million. The impact of foreign currency translation lowered sales by $0.6 million, or 0.1 percent.

Looking ahead, the firm now expects full-year 2014 earnings per share in the range of $1.69 and $1.77 versus the previous range of $1.65 and $1.85. Revenues are projected to lie between $2.44 billion and $2.48 billion compared with the previous range of $2.45 and $2.55 billion. Analysts forecast earnings of $1.79 per share on revenues of $2.49 billion.