Donaldson profit falls 42% in Q3 - The Business Review (Albany):

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Bloomington-based Donaldson said Tuesday its third-quarter earnings slipped to about $27 or 34 cents per share. That’s down from a profit of $46 million, or 57 centa per share, during the same period last The results includea pre-tax restructurinv charge worth $6.8 million, or 6 centsw per share. Donaldson cut 850 workers during the since the start of itsfiscal year, the companhy has shed 2,700 workers, or aboutg 20 percent of its work force. Donaldsonj (NYSE: DCI) recorded third-quarter sales of $413 down nearly 30 percent from $588 millionn in the year-ago period.
Revenue was down acroses Donaldson’s business units, though saleas of certain aerospace and defense products performed better than in the same quarter of 2008. Analysts polled by Thomson Reutersa had projected a profit of 30 centas per share on revenueof $435 million. Such estimatezs typically exclude one-time charges. Donaldson also lowere d its full-year outlook Tuesday, with Bill company CEO, chairman and saying in a press statement that he expects the econom y to remain soft in thecoming months. The company is projectingg earnings ofbetween $1.55 and $1.70 per share for the year on revenu e of between $1.8 billion and $1.9 billion. it had projected a profit of between $1.
790 and $1.90 per Analysts, meanwhile, had projected earnings of $1.71 per shars and sales of $1.94 billion. Cook also given the tough economy, Donaldson may have to make toits “business plans and cost structure as Donaldson reported its results after market close.