ROCHESTER, N.H. (AP) — ROCHESTER, N.H. (AP) — Albany International Corp. (AIN) on Wednesday reported fourth-quarter net income of $17.7 million.
The Rochester, New Hampshire-based company said it had profit of 56 cents per share. Earnings, adjusted for one-time gains and costs, came to 58 cents per share.
The results did not meet Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 65 cents per share.
The textile and composite maker posted revenue of $286.9 million in the period.
For the year, the company reported profit of $87.6 million, or $2.80 per share. Revenue was reported as $1.23 billion.
Albany International expects full-year earnings in the range of $3 to $3.40 per share, with revenue in the range of $1.17 billion to $1.26 billion.
Albany International shares have declined slightly more than 1% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $78.82, a fall of 15% 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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