Our filtration company, Donaldson (NYSE:DCI), released pretty bad earnings after the close. For their fiscal fourth quarter, Donaldson made 35 cents a share which was five cents better than estimates but still down from 60 cents a year ago. Sales dropped over 30%.
More bad news is that the company sees fiscal 2010 EPS ranging between $1.44 and $1.64 which is less than Wall Street was expecting. I’m afraid that the stock is too high right now.