New York based largest cloth maker Albany International Corp announced that fourth-quarter earnings are expected to be approximately $0.36 per share, as compared to last year's fourth quarter of $0.38 per share.
Restructuring charges reduced fourth-quarter 2004 net income per share by $0.20, which was partially offset by income tax adjustments that increased net income by $0.08 per share.
Earnings for the full year are expected to be approximately $2.18 per share, compared to last year's $0.32 per share after restructuring charges of $1.16 per share.
Net sales increased to a new quarterly high of $247.9 million, an increase of 4.0 percent over the same quarter last year and an increase of 6.7 percent excluding the effect of changes in currency translation rates.
Net sales for the full year were $978.7 million, an increase of 6.4 percent over last year and an increase of 4.8 percent excluding the effect of changes in currency translation rates.
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Albany International is the world's largest producer of custom-designed engineered fabrics and sophisticated structured materials and services for the worldwide pulp and paper industry, as well as other process industries.
Founded in 1895, the Company is headquartered in Albany, New York, and employs approximately 5,900 people worldwide.
Their plants are strategically located to serve their global customers.
Albany International Corp
marketing@alchempro.com
