Albany International Q3 Profit Decreases, But Beats Estimates

(RTTNews) - Albany International (AIN) revealed a profit for third quarter that decreased from last year but beat the Street estimates.

The company's earnings came in at $18.03 million, or $0.57 per share. This compares with $27.11 million, or $0.87 per share, in last year's third quarter.

Excluding items, Albany International reported adjusted earnings of $0.80 per share for the period.

Analysts on average had expected the company to earn $0.57 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 6.1% to $298.39 million from $281.11 million last year.

Albany International earnings at a glance (GAAP) :

-Earnings (Q3): $18.03 Mln. vs. $27.11 Mln. last year. -EPS (Q3): $0.57 vs. $0.87 last year. -Revenue (Q3): $298.39 Mln vs. $281.11 Mln last year.

-Guidance: Full year EPS guidance: $3.10 - $3.50 Full year revenue guidance: $1.23 - $1.25 Bln