U.S. Markets close in 6 hrs 15 mins

Albany International: 3Q Earnings Snapshot

ROCHESTER, N.H. (AP) _ Albany International Corp. (AIN) on Tuesday reported third-quarter net income of $40 million.

The Rochester, New Hampshire-based company said it had profit of $1.24 per share. Earnings, adjusted for non-recurring gains and restructuring gains, were $1.17 per share.

The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 77 cents per share.

The textile and composite maker posted revenue of $271.1 million in the period.

Albany International expects full-year earnings in the range of $3.75 to $3.95 per share, with revenue in the range of $1.04 billion to $1.06 billion.

Albany International shares have climbed 31% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $81.81, a rise of 24% in the last 12 months.

_____

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AIN at https://www.zacks.com/ap/AIN