Home / Knowledge / News / Apparel/Garments / Net income rises 10.56% in Q1 2016 at Albany
Net income rises 10.56% in Q1 2016 at Albany
06
May '16
Textiles and materials processing company, Albany International reported rise of 10.56 per cent in net income to $13.50 million in the first quarter of 2016, ended march 31, as compared to $12.23 million in the corresponding quarter of 2015 because of discrete income tax adjustments.

Income before income taxes was $20.4 million in Q1 of 2016 as compared to $20.8 million in the first quarter of the previous year. Income tax expense summed up to $7.04 million in Q1 2016 as compared to $8.51 million in the corresponding year of the prior year.

Net sales of the company stood at $172.33 million in the three month period of 2016 as compared to $181.32 million in the prior quarter, a fall of 4.95 per cent.

Diluted earnings per share for the quarter stood at $0.42 as compared to $0.38 in the prior year.

Commenting on the results, Joe Morone, president and CEO of Albany International said, “Q1 2016 was another good quarter for Albany International. Against an unusually strong Q1 2015, Q1 2016 adjusted EBITDA held constant.”

“It bears emphasising that our ability to realise the revenue potential of these programs is by no means certain. Each requires successful execution against demanding requirements and schedules, and assumes no significant slippage in schedule,” he added. (MCJ)

Fibre2Fashion News Desk - India


Must ReadView All

Apparel/Garments | On 25th Jun 2017

Half of 7,000 new apparel online each day target women

Adobe has released its first Digital Price Index for apparels,...

Textiles | On 25th Jun 2017

First Insight, Chico's FAS enter partnership

First Insight, a technology company transforming how retailers make...

Apparel/Garments | On 25th Jun 2017

Expand changing use of social and web resources

With over 400 million impressions to date and web traffic of over two ...

Interviews View All

Rajiv Sirohi
Shara

‘Portugal is taking away a major share of the mill made sector.’

Viral Desai
Zenitex Mill Pvt Ltd

Full of green energy

Smita Murarka
Amanté

‘There is huge demand in the Indian lingerie market for non-wired styles.’

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
June 2017

June 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search