This wouldn't be complete if I forgot to post here Donaldson's last earnings report:
MINNEAPOLIS, Feb. 15 /PRNewswire/ -- Donaldson Company, Inc. (NYSE: DCI - news), today reported second-quarter and six-month results for the period ended January 31, 2000. For the quarter, sales of $259.3 million were up 18 percent from prior-year comparable quarter sales of $220.2 million. Net earnings of $17.4 million were up 32 percent from prior-year comparable quarter net earnings of $13.2 million. Diluted net earnings per share of 37 cents were up 37 percent from prior-year comparable quarter diluted net earnings per share of 27 cents.
For the six-month period, sales of $505.8 million were up 13 percent from prior-year sales of $445.7 million. Net earnings of $34.4 million were up 30 percent from prior-year net earnings of $26.5 million. Diluted net earnings per share of 73 cents were up 33 percent from prior-year diluted net earnings per share of 55 cents.
Total backlogs of $291.1 million were up 16 percent relative to the same period last year and unchanged from the prior quarter end. Hard order backlogs -- goods scheduled for delivery in 90 days -- of $165.2 million were up 11 percent from the same period last year and down 3 percent from prior quarter end.
``Our year-to-date results get us off to a great start in fiscal 2000,' commented William Van Dyke, chairman and chief executive officer. ``Relative to last year, revenue growth was achieved in both the Engine Products segment and the Industrial Products segment and across nearly all served product markets, most notably transportation products, engine aftermarket products, gas turbine systems and high purity applications. In local currency terms, year-to-date sales in Europe were up 15 percent from the prior year, while sales in the Asia Pacific region were essentially flat. Sales in North America were up about 14 percent from the prior year, reflecting strong shipments of transportation products and gas turbine systems. Gross margins remained at historically high levels, continuing to benefit from higher capacity utilization, cost reduction and process improvement efforts. Overall, many positive factors -- sharply higher revenue, strong gross margin performance, a lower tax rate and fewer shares outstanding -- combined to provide an outstanding earnings per share performance in the second quarter and year-to-date period.'
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I'll cap this with an other excerpt from one of my post on Yahoo!'s board:
Donaldson beats the Street's estimate for the fourth consecutive quarter, if I am not mistaken.
Sales up 18% and EPS up 37%... Not bad at all, for a slow grower... Total backlogs up 16% bodes well for the 3rd quarter...
Well, with the DCE acquisition completed at the end of January, we should end up with a pretty good year.
This is all for today.
MF |
