Albany International: Q4 Earnings Snapshot

ROCHESTER, N.H. (AP) — ROCHESTER, N.H. (AP) — Albany International Corp. (AIN) on Monday reported fourth-quarter earnings of $30.5 million.

The Rochester, New Hampshire-based company said it had profit of 97 cents per share. Earnings, adjusted for non-recurring costs, were $1.22 per share.

The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 84 cents per share.

The textile and composite maker posted revenue of $323.6 million in the period.

For the year, the company reported profit of $111.1 million, or $3.55 per share. Revenue was reported as $1.15 billion.

Albany International expects full-year earnings to be $3.55 to $4.05 per share, with revenue in the range of $1.26 billion to $1.33 billion.

Albany International shares have fallen almost 6% since the beginning of the year. In the final minutes of trading on Monday, shares hit $92.53, a decrease of roughly 9% 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