Donaldson Co. Inc. announced its financial results for its fiscal 2014 first quarter.
The engine products sales increased 7 percent in local currency from last year, driven by the engine aftermarket and aerospace and defense businesses, which were up 9 and 20 percent, respectively.
The industrial products sales decreased 4 percent. Consistent with earlier guidance, gas turbine shipments decreased 27 percent, but were offset partially by industrial filtration solutions and special applications businesses, which were up 2 and 5 percent, respectively. Geographically, excluding the gas turbine sales, the company’s local currency sales growth was widespread across all of its major regions.
The company’s operating income of $92 million and operating margin of 15.3 percent were first-quarter records.
The combination of sales and operational performance should deliver FY14 EPS of between $1.65 and $1.85 per share.”
The board of directors has declared a regular cash dividend of 14 cents per share, payable Dec. 20 to shareholders of record as of Dec. 9, an increase of 8 percent from the prior payout of 13 cents per share.
The company operates a plant in Dixon.