ROCHESTER, N.H. (AP) — ROCHESTER, N.H. (AP) — Albany International Corp. (AIN) on Wednesday reported second-quarter profit of $9.2 million.
The Rochester, New Hampshire-based company said it had profit of 31 cents per share. Earnings, adjusted for non-recurring costs and restructuring costs, were 57 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 73 cents per share.
The textile and composite maker posted revenue of $311.4 million in the period.
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 decreased 11% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $70.79, a fall of 24% 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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