Albany International (AIN) Tops Q3 EPS by 15c
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Albany International Reports Third-Quarter Results
October 30, 2018 5:00 PM EDTThird-quarter Highlights
Net sales were $253.3 million, an increase of 14.0% compared to 2017 (see Table 2). Excluding the impact of the adoption of the new revenue recognition standard (ASC 606) and currency translation effects, Net sales increased 15.5% (see Table 3). Net income attributable to the Company was $28.2 million ($0.87 per share), compared to $15.3 million ($0.47 per share) in Q3 2017. Q3 2018 Net income attributable to the Company was increased by $0.7 million ($0.02 per share) as a result of adopting ASC 606 (see Table 16). Net income attributable to the Company, excluding adjustments (a non-GAAP measure), was $0.85 per share, compared... More