WESTFORD, Mass. (AP) — WESTFORD, Mass. (AP) — Kadant Inc. (KAI) on Tuesday reported first-quarter earnings of $24.7 million.
The Westford, Massachusetts-based company said it had profit of $2.10 per share. Earnings, adjusted for amortization costs, were $2.38 per share.
The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $1.96 per share.
The equipment supplier for the papermaking and paper recycling industries posted revenue of $249 million in the period.
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