Albany International (AIN) Tops Q1 EPS by 3c

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Go back to Albany International (AIN) Tops Q1 EPS by 3c

Albany International Reports First-Quarter Results

May 7, 2018 5:00 PM EDT

First-quarter Highlights

Net sales were $230.0 million, an increase of 15.4% 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 6.6% (see Table 3). Net income attributable to the Company was $10.2 million ($0.32 per share), compared to $10.8 million ($0.34 per share) in Q1 2017. Net income attributable to the Company was increased by $1.2 million ($0.04 per share) as a result of adopting ASC 606. Net income attributable to the Company, excluding adjustments (a non-GAAP measure), was $0.54 per share, compared to $0.46 per share in... More