Albany International (AIN) Reports In-Line Q2 EPS
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Albany International Reports Second-Quarter Results
August 1, 2016 5:00 PM EDTSecond-Quarter Financial Highlights
The Company completed the acquisition of Harris Corporations composite aerostructures division. Key financial metrics of the acquired business are noted in Table 1. Net sales were $203.2 million, an increase of 17.9% compared to Q2 2015. The acquired business increased net sales by 14.9%. Changes in currency translation rates had minimal effect on sales when compared to Q2 2015 (see Table 2). Q2 2016 net income attributable to the Company was $10.4 million ($0.32 per share), compared to a $2.2 million loss ($0.07 per share) in Q2 2015. Net income attributable to the Company, excluding adjustments (a non-GAAP... More