Donaldson sees FY13 tax rate 28%-31%, operating margin 14.2%-15% Continues to forecast full-year sales growth as strong Gas Turbine project shipments in the next two quarters and improving demand for replacement filters are anticipated to offset weaker demand from our Engine OEM and Disk Drive Customers. Expects foreign currency translation to have a negative impact on sales for most of the fiscal year. Sees FY13 Engine Products sales equal to FY12, including the negative impact of foreign currency. Sees FY13 Industrial Products sales up 4%-10% over FY13, including the negative impact of foreign currency.
Donaldson will no longer pursue second campus in China The company also decided to implement a workforce reduction in China. The moves came following an evaluation of the country's prospects after its investments have not yet materialized. The company said it still sees long-term growth opportunities in China, but needs to right-size its investment at this time. Comments taken from Q4 earnings conference call.