Albany International Q1 Profit Increases, beats estimates

(RTTNews) - Albany International (AIN) released earnings for its first quarter that increased from the same period last year and beat the Street estimates.

The company's bottom line totaled $27.3 million, or $0.87 per share. This compares with $26.9 million, or $0.86 per share, in last year's first quarter.

Excluding items, Albany International reported adjusted earnings of $0.90 per share for the period.

Analysts on average had expected the company to earn $0.87 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 16.4% to $313.3 million from $269.1 million last year.

Albany International earnings at a glance (GAAP) :

-Earnings (Q1): $27.3 Mln. vs. $26.9 Mln. last year. -EPS (Q1): $0.87 vs. $0.86 last year. -Revenue (Q1): $313.3 Mln vs. $269.1 Mln last year.

-Guidance: Full year EPS guidance: $3.55-$4.05 Full year revenue guidance: $1.26-$1.33 Billion