Albany International (AIN) Misses Q4 EPS by 8c
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Albany International Reports Fourth-Quarter Results
February 8, 2017 5:00 PM ESTFourth-quarter Financial Highlights
Net sales were $213.0 million, an increase of 20.0% compared to Q4 2015. Net sales increased 11.8% as a result of the Q2 2016 acquisition in AEC (see Tables 1 and 2). Net income attributable to the Company was $15.8 million ($0.49 per share), compared to $37.6 million ($1.17 per share) in Q4 2015. Income tax-related adjustments increased earnings per share by $0.08 in 2016 and $0.93 in 2015 (see Table 16). Net income attributable to the Company, excluding adjustments (a non-GAAP measure), was $0.36 per share, compared to $0.46 in Q4 2015 (see Table 16). Net income... More