ROCHESTER, N.H. (AP) — ROCHESTER, N.H. (AP) — Albany International Corp. (AIN) on Tuesday reported second-quarter profit of $24.6 million.
On a per-share basis, the Rochester, New Hampshire-based company said it had profit of 79 cents. Earnings, adjusted for restructuring costs and costs related to mergers and acquisitions, came to 89 cents per share.
The results met Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was also for earnings of 89 cents per share.
The textile and composite maker posted revenue of $332 million in the period.
Albany International expects full-year earnings in the range of $3.55 to $4.05 per share, with revenue in the range of $1.26 billion to $1.33 billion.
Albany International shares have dropped 13% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $85.83, a decline of 11% 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
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