Home / Knowledge / News / Apparel/Garments / Net sales at Albany International stay flat in Q1
Net sales at Albany International stay flat in Q1
06
May '15
Net sales for the first quarter ended March 31, 2015 at Albany International were flat over the same period of 2014. However, excluding currency effects, net sales increased 7.0 per cent.

A press release from the producer of advanced textiles and materials said its sales in the first quarter of 2015 reached $181.3 million, a rise of just 0.6 per cent compared to the first quarter of 2014.

According to Albany, changes in currency translation rates, driven mainly by the strengthening US dollar, resulted in an $11.7 million decline in sales for the first quarter of 2015.

Excluding that effect, Machine Clothing (MC) division sales were up 3.5 percent year on year, which it said, reflects strength in every major region.

Sales in the first quarter of 2015 at its Albany Engineered Composites (AEC) division sales expanded $6.6 million year over year.

About half of AEC sales were related to Leap production activities, which were $4.6 million ahead over the weak first quarter of 2014, when sales were affected by a temporary lag due to start-up and inventory effects.

Gross profit for the first quarter of 2015 was $76.7 million or 42.3 per cent of net sales compared to $74.8 million or 41.5 per cent of net sales in the same period of 2014.

MC division gross profit hiked from $73.9 million or 45.0 per cent of net sales in the quarter under review to $75.3 million or 47.5 per cent of net sales.

“Changes in currency rates had a negative effect on MC gross profit which was more than offset by higher sales volume, a favourable product mix, and the impact of cost-reduction activities,” Albany added.

On the other hand, gross profit at the AEC division climbed from $1.3 million to $1.8 million in the first quarter of 2015, driven by higher sales.

Its adjusted EBITDA for the reporting quarter grew higher by 9.78 per cent at $41.5 million as against $37.8 million in the prior year’s first quarter.

Income before taxes in the first quarter of 2015 totalled $20.8 million as against $18.2 million in the corresponding quarter of the previous year.

Selling, technical, general, and research (STG&R) expenses were down to $47.5 million or 26.2 per cent of net sales from $53.0 million or 29.4 per cent of net sales in the same quarter of last year.

First quarter of 2015 income attributable to the Company was higher at $0.38 per share compared to $0.33 per share in the corresponding quarter of 2014. (AR)

Fibre2fashion News Desk - India


Must ReadView All

Textiles | On 21st Jul 2017

No shortage of cotton & yarn in country: Minister

There is no shortage of cotton and yarn in the country, and the...

Pic courtesy: Sutlej Textiles & Industries Ltd

Textiles | On 21st Jul 2017

Sutlej Textiles’ Q1 FY18 EBITDA expands to Rs 76.28 cr

Sutlej Textiles and Industries Ltd (STIL), one of India’s largest...

Textiles | On 21st Jul 2017

CAI revises 2016-17 cotton crop to 337.25 lakh bales

Cotton Association of India (CAI) has upwardly revised cotton crop...

Interviews View All

Kaizad Hansotia
GetNatty

Competition is the best thing that can happen to a startup

Smita Murarka
Amanté

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

Dharmendra Shah
Ozone PB Spintex Limited

‘We have made huge investments to ensure quality yarn production.’

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

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

July 2017

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Thanks for your valuable feedback. Claim your free latest sustainability e-book.


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



X