Donaldson Company, Inc. (DCI)

[Timothy Smith]

Donaldson (NYSE:DCI) -10.5% AH after saying it delayed the filing of its 10-K, citing ongoing investigation related to the recognition of revenue for certain projects in its European gas turbine products business.

DCI says an investigation found that documents related to a project in the European gas turbine products business earlier this year were altered in order to inappropriately recognize revenue for certain transactions in periods earlier than would be allowable; DCI believes the transactions were valid, but revenue was inappropriately recognized in an accelerated manner.

DCI believes related financial statement misstatements were immaterial, but says the investigation is still ongoing.