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Donaldson reports record fourth quarter

30 Aug '12

6 min read

•Our full year FY13 tax rate is anticipated to be between 28 and 31 percent.
•We forecast our full year FY13 EPS to be between $1.82 and $1.96.
•Cash generated by operating activities is projected to be between $280 and $310 million. Capital spending is estimated to be approximately $125 million.

Engine Products: We forecast sales to increase 3 to 10 percent, including the impact of foreign currency.

•Our OEM Customers' build rates of new on-road and off-road equipment have moderated in most developed economies so we anticipate sales growth will slow from FY12's double-digit increases. We will continue to benefit from new program wins and increased filter content on our Customers' new Tier IV equipment platforms.
•Sales of our Aftermarket Products are expected to increase moderately based on current utilization rates for both off-road equipment and on-road heavy trucks. We should also benefit from our continued expansion into the emerging economies, from the increasing number of systems installed in the field with our proprietary filtration systems, and from our increasing sales of liquid filtration products.
•We forecast our Aerospace and Defense Products' sales to be level with the prior year as the continued slowdown in military spending is anticipated to be offset by increased commercial aerospace sales.

Industrial Products: We forecast sales to increase 5 to 12 percent, including the impact of foreign currency.

•Our Industrial Filtration Solutions Products' sales are projected to increase 1 to 7 percent and assume U.S. manufacturing activity remaining strong, gradually improving conditions in Asia, and moderating activity levels in Europe.
•We anticipate our Gas Turbine Products' sales to be up 17 to 23 percent due to the continuing strength in the large turbine power generation and in the oil and gas markets.
•Special Applications Products' sales are forecast to increase 8 to 14 percent with solid growth expected in all product groups – disk drive filtration, membranes, and venting products.

Donaldson Company Inc