News Column

BRIEF: Albany International reports decrease in sales

August 6, 2014

By Sharon Hanuszczak-Froberg, The Post-Crescent, Appleton, Wis.



Aug. 06--Albany International reported second-quarter net sales of $193.5 million, down 2.3 percent from a year ago.

Earnings were reduced by restructuring charges of $2 million and income tax adjustments of $0.8 million, and were increased by an insurance-recovery gain of $1 million and foreign currency revaluation gains of $1 million. In addition, income was reduced by $1.6 million to correct previously reported inventory values/

Albany International is a global advanced textiles and materials processing company, with two core businesses. Machine Clothing is a leading producer of custom-designed fabrics and belts essential to production in the paper, nonwovens and other process industries. Albany Engineered Composites is a rapidly growing supplier of highly engineered composite parts for the aerospace industry.

Albany International is headquartered in Rochester, N.H., and operates 20 plants in 11 countries, including Kaukauna and Menasha.

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(c)2014 The Post-Crescent (Appleton, Wis.)

Visit The Post-Crescent (Appleton, Wis.) at www.postcrescent.com

Distributed by MCT Information Services


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Source: Post-Crescent (Appleton, WI)


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