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Albany International: 4Q Earnings Snapshot

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ROCHESTER, N.H. (AP) _ Albany International Corp. (AIN) on Wednesday reported fourth-quarter profit of $27.5 million.

On a per-share basis, the Rochester, New Hampshire-based company said it had net income of 85 cents. Earnings, adjusted for restructuring costs and costs related to mergers and acquisitions, were 89 cents per share.

The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 63 cents per share.

The textile and composite maker posted revenue of $226.9 million in the period.

For the year, the company reported profit of $98.6 million, or $3.05 per share. Revenue was reported as $900.6 million.

Albany International expects full-year earnings in the range of $2.40 to $2.80 per share, with revenue in the range of $850 million to $890 million.

Albany International shares have climbed nearly 3% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $75.36, a climb of slightly more than 4% in the last 12 months.

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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