Albany International (AIN) Misses Q1 EPS by 6c
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Albany International Reports First-Quarter Results
May 2, 2016 5:00 PM EDTFirst-Quarter Financial Highlights
Net sales were $172.3 million, a decrease of 5.0% compared to Q1 2015. Excluding currency effects, net sales decreased 3.9% (see Table 1). Adjusted EBITDA was $41.3 million, compared to $41.5 million in Q1 2015 (see Tables 6 and 7). Q1 2016 income attributable to the Company was $0.42 per share, compared to $0.38 inQ1 2015. Excluding adjustments (see Table 10), income attributable to the Company was $0.46 per share, compared to $0.45 in Q1 2015. On April 8, 2016, the Company completed the acquisition of Harris Corporations composite aerostructures division.
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