Kadant: 2Q Earnings Snapshot
WESTFORD, Mass. (AP) _ Kadant Inc. (KAI) on Monday reported second-quarter net income of $12.3 million.
On a per-share basis, the Westford, Massachusetts-based company said it had net income of $1.08. Earnings, adjusted for pretax gains, were $1.07 per share.
The equipment supplier for the papermaking and paper recycling industries posted revenue of $154.9 million in the period.
For the current quarter ending in October, Kadant said it expects revenue in the range of $162 million to $166 million.
The company expects full-year earnings in the range of $5 to $5.10 per share, with revenue ranging from $630 million to $638 million.
Kadant shares have declined almost 5 percent since the beginning of the year. In the final minutes of trading on Monday, shares hit $95.60, a climb of 23 percent in the last 12 months.