Albany International (AIN) Tops Q2 EPS by 28c, Revenues Beat
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Albany International Reports Second-Quarter Results
August 6, 2018 5:00 PM EDTSecond-quarter Highlights
Net sales were $256.2 million, an increase of 18.9% 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 17.0% (see Table 3). Net income attributable to the Company was $30.4 million ($0.94 per share), compared to $1.1 million ($0.03 per share) in Q2 2017. Q2 2018 Net income attributable to the Company was increased by $1.4 million ($0.04 per share) as a result of adopting ASC 606. Q2 2017 results included a pre-tax charge of $15.8 million ($0.31 per share after tax) related to revisions in the estimated profitability of two... More