(RTTNews.com) - Filtration company Donaldson Co., Inc. ( DCI ) on Thursday said it continues to expect fiscal 2017 adjusted earnings per share between $1.50 and $1.66. Reported earnings per share are now expected to be approximately 5 cents greater than adjusted earnings per share, reflecting the impact in first quarter 2017 from the Settlement.
On average, 11 analysts polled by Thomson Reuters expect earnings of $1.57 per share for the year. Analysts' estimates typically exclude special items.
Donaldson reaffirmed its prior full-year sales guidance for fiscal 2017. The company continues to expect total sales between a 2 percent decline and a 2 percent increase compared with 2016.
In its first-quarter 2017, net earnings were $58.0 million, or $0.43 per share, higher than $38.5 million, or $0.29 per share in 2016.
The latest quarter results included a benefit of approximately 5 cents per share related to the settlement of claims in connection with the acquisition of Northern Technical, L.L.C. Adjusted earnings per share were $0.38, compared to $0.34 in 2016.
First-quarter 2017 sales increased 2.8 percent to $553.0 million from $538.0 million in the prior year.
Analysts expected first-quarter earnings of $0.35 per share on sales of $535.65 million.
Excluding the benefit from currency translation, first quarter sales increased 2.5 percent from last year, reflecting increases in both the Industrial Products and Engine Products segments.
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