Donaldson Company, which makes engine filters and parts, reports a sales increase of 6.8 percent for the 2016-2017 fiscal year, which ended July 31.
Fourth-quarter sales for the fiscal year rose 11.2 percent to $660.1 million from $593.8 million last year. The company points to its engine and industrial products segments as driving the increase.
Donaldson also reported net earnings of $232.8 million in fiscal year 2017, up from $190.8 million last fiscal year.
CEO Tod Carpenter said the company expects the recovery in the engine-related end markets to continue, but industrial markets are uncertain. He said the company will continue to invest in technology development, capacity expansion and customer engagement.
During the fiscal year, Donaldson acquired Partmo, a Colombia manufacturer of replacement air, lube and fuel filters; and Hy-Pro, an Indiana-based designer and maker of filtration systems and replacement filters for stationary hydraulic and industrial filtration applications.
Based in Bloomington, Minnesota, Donaldson has 12,200 employees and 140 sales, manufacturing and distribution locations worldwide.