The Donaldson Company, Inc. (NYSE: DCI) has announced fourth quarter operating figures that include solid results.
"While global economic conditions in many of our end markets remained challenging, we delivered record fourth-quarter net income and earnings per share," said Donaldson CEO Bill Cook in a news release.
"Our overall sales were down from the fourth quarter of last year primarily due to our Engine Products OEM businesses in the U.S. and Asia and our Industrial Products businesses," Cook said.
"However, we also had a number of businesses and regions that saw year-over-year increases," Cook added.
"Despite our lower overall sales, we delivered higher operating income with a record operating margin of 15.8 percent," Cook said in the release.
"Due to our strong operating margin performance, we delivered record net income and earnings-per-share in the fourth quarter," Cook said.
Net earnings per share rose to $0.49 in the fourth quarter of 2013 from $0.47 in the same period in 2012.
"Overall, we are expecting our full-year sales to increase percentage-wise in the low- to mid-single digits in fiscal year 2014," Cook said.
Donaldson, which has a plant in Greeneville, is a leading worldwide provider of filtration systems and replacement filters for engines and industrial and commercial equipment.
The company's headquarters are in Minneapolis, Minn.