AP NEWS

Albany International: 4Q Earnings Snapshot

February 10, 2020 GMT

ROCHESTER, N.H. (AP) _ Albany International Corp. (AIN) on Monday reported fourth-quarter profit of $29.1 million.

On a per-share basis, the Rochester, New Hampshire-based company said it had profit of 90 cents. Earnings, adjusted for restructuring costs and non-recurring costs, were 97 cents per share.

The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 79 cents per share.

The textile and composite maker posted revenue of $257.7 million in the period.

For the year, the company reported profit of $132.4 million, or $4.10 per share. Revenue was reported as $1.05 billion.

Albany International expects full-year earnings in the range of $2.75 to $3.15 per share, with revenue in the range of $970 million to $1.01 billion.

Albany International shares have decreased 5% since the beginning of the year. In the final minutes of trading on Monday, shares hit $72.15, a climb of roughly 4% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AIN at https://www.zacks.com/ap/AIN