Albany International Corp., a global advanced textiles and materials processing company with core businesses in machine clothing and engineered composites, reported Q4 2013 income attributable to the Company of $8.7 million. These results were increased by a net reduction in restructuring costs of $2.1 million and income tax adjustments of $0.6 million, and were decreased by foreign currency revaluation losses of $1.6 million.
Albany International Corp., a global advanced textiles and materials processing company with core businesses in machine clothing and engineered #
Fourth-Quarter Financial Highlights
-Net sales were $189.6 million, a decrease of 2.4 percent compared to Q4 2012.
Albany International Corp., a global advanced textiles and materials processing company with core businesses in machine clothing and engineered #
-Adjusted EBITDA for Q4 2013 was $33.6 million, compared to $37.8 million in Q4 2012.
Albany International Corp., a global advanced textiles and materials processing company with core businesses in machine clothing and engineered #
-In the fourth quarter, Safran S.A. obtained a 10 percent non controlling equity interest in Albany Safran Composites, LLC for $28 million.
Albany International Corp., a global advanced textiles and materials processing company with core businesses in machine clothing and engineered #
-Q4 2013 income attributable to the Company (which excludes income allocated to the non controlling interest in ASC) was $0.27 per share. These results were increased by a credit to restructuring of $0.03 and net favorable income tax adjustments of $0.02, and were reduced by foreign currency revaluation losses of $0.03.
Albany International Corp., a global advanced textiles and materials processing company with core businesses in machine clothing and engineered #
-Q4 2012 income attributable to the Company was $0.26 per share. These results included restructuring charges of $0.02, foreign currency revaluation losses of $0.08, and net unfavorable income tax adjustments of $0.01.
Albany International Corp., a global advanced textiles and materials processing company with core businesses in machine clothing and engineered #
-Net debt at the end of Q4 was $81.8 million, a decline of $13.1 million for the quarter and $47.2 million for the full year.
Albany International Corp., a global advanced textiles and materials processing company with core businesses in machine clothing and engineered #
“As for the 2014 outlook for AEC, we expect full-year sales to grow by roughly 10 percent, while full-year Adjusted EBITDA has the potential to nearly double. The most important performance milestone for the business will be on-time delivery of parts for LEAP engine tests.”
Albany International Corp., a global advanced textiles and materials processing company with core businesses in machine clothing and engineered #
Q4 2012 income attributable to the Company was $8.2 million. These results included restructuring charges of $0.9 million, foreign currency revaluation losses of $4.0 million, and net unfavorable income tax adjustments of $0.1 million.
Albany International Corp., a global advanced textiles and materials processing company with core businesses in machine clothing and engineered #
Q4 2013 gross profit was $72.4 million, or 38.2 percent of net sales, compared to $79.0 million, or 40.6 percent of net sales, in the same period of 2012. MC gross profit margin decreased from 45.0 percent in 2012 to 41.7 percent in 2013. The decrease in MC gross profit percentage was principally attributable to lower sales in North America.
Albany International Corp., a global advanced textiles and materials processing company with core businesses in machine clothing and engineered #
Selling, technical, general, and research (STG&R) expenses were $54.6 million, or 28.8 percent of net sales, in the fourth quarter of 2013, including losses of $0.2 million related to the revaluation of nonfunctional-currency assets and liabilities. In Q4 2012, STG&R expenses were $58.4 million, or 30.0 percent of net sales, including losses of $1.2 million related to the revaluation of nonfunctional-currency assets and liabilities.
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