ROCHESTER, N.H. (AP) _ Albany International Corp. (AIN) on Wednesday reported first-quarter profit of $9.1 million.
The Rochester, New Hampshire-based company said it had profit of 28 cents per share. Earnings, adjusted for non-recurring costs and restructuring costs, were 78 cents per share.
The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 61 cents per share.
The textile and composite maker posted revenue of $235.8 million in the period.
Albany International shares have decreased 26% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $56.12, a fall of 24% in the last 12 months.