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More good news from another boring stock. After the bell yesterday, Donaldson (DCI) reported earnings for its fiscal third quarter of 57 cents a share. That’s six cents higher than Wall Street’s estimate, and it’s also a nice gain over last year’s third quarter when DCI netted 49 cents a share.

I was also very happy to see that for the third time, Donaldson raised its FY 2008 earnings-per-share forecast. Back in September, the company expected EPS of $1.92 to $2.01. Then in November, they raised it to $1.97 to $2.07. In February, they went to $2 to $2.10 a share, and now in May, they’ve raised it to $2.08 to $2.13. Their fiscal year ends at the end of July.

The company is well on its way to a 19th straight record year for earnings. For the first three quarters of this fiscal year, Donaldson has earned $1.52 a share, which is a 17% increase over the $1.30 they made last year. The only need to make another 32 cents a share in the fourth quarter to beat last year’s total, and the company expects EPS of 56 cents to 61 cents. Also, in January, the company increased its dividend for the 22nd straight year.

Year.............Sales.................EPS
1990............$422.9...............$0.19
1991............$457.7...............$0.21
1992............$482.1...............$0.23
1993............$533.3...............$0.26
1994............$593.5...............$0.30
1995............$704.0...............$0.37
1996............$758.6...............$0.42
1997............$833.3...............$0.50
1998............$940.4...............$0.57
1999............$944.1...............$0.66
2000............$1,092.3............$0.76
2001............$1,137.0............$0.83
2002............$1,126.0............$0.95
2003............$1,218.3............$1.05
2004............$1,415.0............$1.18
2005............$1,595.7............$1.27
2006............$1,694.3............$1.55
2007............$1,918.8............$1.83
2008............$2,170.0............$2.08 to $2.13 (est)

Posted by edelfenbein at May 28, 2008 12:08 PM