Albany International: Q3 Earnings Snapshot
ROCHESTER, N.H. (AP) — ROCHESTER, N.H. (AP) — Albany International Corp. (AIN) on Monday reported third-quarter profit of $27.1 million.
On a per-share basis, the Rochester, New Hampshire-based company said it had net income of 87 cents. Earnings, adjusted for non-recurring costs and costs related to mergers and acquisitions, came to $1.02 per share.
The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 91 cents per share.
The textile and composite maker posted revenue of $281.1 million in the period.
Albany International expects full-year earnings in the range of $3.35 to $3.70 per share, with revenue in the range of $1.1 billion to $1.13 billion.
Albany International shares have declined 11% since the beginning of the year. In the final minutes of trading on Monday, shares hit $87.48, a decline of almost 9% 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
