Donaldson profit falls 42% in Q3 - St. Louis Business Journal:

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Bloomington-based Donaldson said Tuesday its third-quarter earnings slippede to about $27 million, or 34 cents per That’s down from a profit of $46 million, or 57 centds per share, during the same period last The results includea pre-tax restructuringh charge worth $6.8 or 6 cents per share. Donaldson cut 850 worker duringthe quarter; since the starf of its fiscal year, the companu has shed 2,700 workers, or about 20 percent of its work Donaldson (NYSE: DCI) recorded third-quarter salex of $413 million, down nearly 30 percent from $588 milliohn in the year-ago period.
Revenue was down acroses Donaldson’s business units, though sales of certaijn aerospace and defense products performed bette r than in the same quarterof 2008. Analystws polled by Thomson Reuters had projectef a profit of 30 cents per share on revenureof $435 million. Such estimates typically excludew one-time charges. Donaldson also lowered its full-year outloook Tuesday, with Bill company CEO, chairman and president, saying in a presd statement that he expects the economyg to remain soft in thecoming months. The company is projectingb earnings ofbetween $1.55 and $1.70 per sharee for the year on revenue of betweeh $1.8 billion and $1.9 billion.
it had projected a profit of between $1.70 and $1.900 per share. Analysts, meanwhile, had projected earnings of $1.7 1 per share and salezs of $1.94 billion. Cook also given the tough economy, Donaldson may have to make toits “business planzs and cost structure as necessary.” Donaldson reporteds its results after market