Albany International (AIN) Reports In-Line Q4 EPS, Revenues Beat
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Albany International Reports Fourth-Quarter Results
February 11, 2019 5:00 PM ESTFourth-quarter Highlights
Net sales were $251.6 million, an increase of 11.0% compared to 2017 (see Table 2). Excluding the impact of adoption of the ASC 606 revenue recognition standard and currency translation effects, Net sales increased 14.5% (see Table 3). Net income attributable to the Company was $17.6 million ($0.55 per share), compared to $5.9 million ($0.18 per share) in Q4 2017. Q4 2018 Net income attributable to the Company was increased by $2.5 million ($0.08 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 $0.74 per share, compared to $0.44 per share... More