Albany International Corp., a global advanced textiles and materials processing company with core businesses in machine clothing and engineered composites, reported Q1 2014 income attributable to the Company of $10.6 million. These results were reduced by restructuring charges of $1.2 million and income tax adjustments of $1.1 million, and were increased by foreign currency revaluation gains of $0.3 million.
Albany International Corp., a global advanced textiles and materials processing company with core businesses in machine clothing and engineered #
First-Quarter Financial Highlights
Net sales were $180.3 million, a decrease of 3.4 percent compared to Q1 2013. Adjusted EBITDA for Q1 2014 was $37.8 million, compared to $33.8 million in Q1 2013.
Albany International Corp., a global advanced textiles and materials processing company with core businesses in machine clothing and engineered #
Q1 2014 income attributable to the Company was $0.33 per share. These results were reduced by restructuring charges of $0.02 and income tax adjustments of $0.03, and were increased by foreign currency revaluation gains of $0.01.
Albany International Corp., a global advanced textiles and materials processing company with core businesses in machine clothing and engineered #
Q1 2013 income attributable to the Company was $0.37 per share. These results were reduced by restructuring charges of $0.01 and income tax adjustments of $0.01, and were increased by foreign currency revaluation gains of $0.01 and a gain on the sale of a former manufacturing facility of $0.06.
Albany International Corp., a global advanced textiles and materials processing company with core businesses in machine clothing and engineered #
“In sum, both businesses performed well in Q1, and barring any macroeconomic disruptions, both are on track for strong full-year performance consistent with both our short- and long-term expectations.”
Albany International Corp., a global advanced textiles and materials processing company with core businesses in machine clothing and engineered #
Q1 2013 income attributable to the Company was $11.5 million. These results were reduced by restructuring charges of $0.6 million and income tax adjustments of $0.2 million, and were increased by foreign currency revaluation gains of $0.7 million and a gain on the sale of a former manufacturing facility of $3.8 million.
Albany International Corp., a global advanced textiles and materials processing company with core businesses in machine clothing and engineered #
In Q1 2014, AEC began LEAP production activities in its Rochester, New Hampshire, plant. This shift to larger scale production, together with a related change in invoicing terms, resulted in a build-up of inventory and an associated temporary lag in sales. The full-year outlook for AEC remains unchanged.
Albany International Corp., a global advanced textiles and materials processing company with core businesses in machine clothing and engineered #
Q1 2014 gross profit was $74.8 million, or 41.5 percent of net sales, compared to $72.8 million, or 39.0 percent of net sales, in the same period of 2013. MC gross profit margin improved from 44.2 percent in 2013 to 45.0 percent in 2014. AEC’s gross profit margin was 8.0 percent in Q1 2014, compared to a gross margin loss in Q1 2013.
Albany International Corp., a global advanced textiles and materials processing company with core businesses in machine clothing and engineered #
Albany International Corp., a global advanced textiles and materials processing company with core businesses in machine clothing and engineered #
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