Albany International: Q2 Earnings Snapshot

Associated Press Finance
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ROCHESTER, N.H. (AP) — ROCHESTER, N.H. (AP) — Albany International Corp. (AIN) on Wednesday reported second-quarter earnings of $26.7 million.

The Rochester, New Hampshire-based company said it had profit of 85 cents per share. Earnings, adjusted for non-recurring costs, were 90 cents per share.

The results did not meet Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 91 cents per share.

The textile and composite maker posted revenue of $274.1 million in the period.

Albany International expects full-year earnings in the range of $3.15 to $3.75 per share, with revenue in the range of $1.04 billion to $1.07 billion.

Albany International shares have fallen slightly more than 3% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $95.25, a rise of 11% 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

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