UPDATE: Donaldson FQ4 Profit Rises 2.3%

Donaldson Co

reported a 2.3% rise in its fiscal fourth-quarter profit. Donaldson's quarterly profit gained to $72.6 million, or $0.48 per share, from $71 million, or $0.47 per share, in the year-ago period. Excluding one-time items, its earnings came in at $0.49 per share. Its net sales declined 3.7% to $632.6 million. However, analysts were expecting earnings of $0.45 per share on revenue of $621 million. For its new year, Donaldson expects earnings of $1.65 to $1.85 per share on revenue of $2.45 billion to $2.55 billion. However, analysts expected earnings of $1.80 per share on revenue of $2.52 billion. Donaldson shares closed at $36.91 yesterday.