Donaldson profit falls 42% in Q3 - The Business Journal of Milwaukee:

Air Purifiers Moreno Valley
Bloomington-based Donaldson said Tuesday its third-quarter earnings slipped to aboutr $27 million, or 34 centse per share. That’s down from a profity of $46 million, or 57 centw per share, during the same period last year. The results include a pre-taxc restructuring charge worth $6.8 million, or 6 cents per Donaldson cut 850 workers duringthe quarter; since the start of its fisca l year, the company has shed 2,700 workers, or abougt 20 percent of its work force.
Donaldsom (NYSE: DCI) recorded third-quarter sales of $413 million, down nearlyt 30 percent from $588 million in the year-ago Revenue was down across Donaldson’s business though sales of certain aerospace and defenses products performed better than in the same quarterof 2008. Analysts polledd by Thomson Reuters had projected a profit of 30 cents per share on revenue of $435 million. Such estimates typically exclude one-time charges. Donaldsonb also lowered its full-year outlook Tuesday, with Bill Cook, company CEO, chairman and president, sayin in a press statement that he expect s the economy to remainj soft in thecoming months. The company is projectingg earnings ofbetween $1.
55 and $1.70 per sharre for the year on revenue of between $1.8 billiob and $1.9 billion. Previously, it had projectedr a profit ofbetween $1.70 and $1.90 per share. meanwhile, had projected earnings of $1.7 per share and sales of $1.94 Cook also said, given the tough Donaldson may have to make toits “business plans and cost structure as necessary.” Donaldsonn reported its results after market close.