Home / Knowledge / News / Textiles / Net sales flat at Albany International in Q3
Net sales flat at Albany International in Q3
31
Oct '15
For the third quarter ended September 30, 2015, net sales at Albany International were flat over the same period of the previous year.

According to an Albany press release, net sales in the third quarter of 2015 were $178.8 million, down 0.6 per cent year over year or nearly flat, but excluding currency effects, net sales increased 4.7 per cent.

“For the quarter under review, gross profit reached $75.7 million or 42.4 per cent of net sales, compared to $68.6 million, or 38.2 per cent of net sales in the third quarter of 2014,” it said.

MC gross profit improved to $74.7 million, or 48.4 per cent of net sales as against $66.1 million or 41.9 per cent of net sales in third quarter of earlier year, reflecting very good capacity utilisation and strong sales volume.

“Even though changes in currency translation rates had a significant effect on MC net sales, they had only a minor negative effect on gross profit,” it explained.

AEC gross profit was $1.4 million in the reporting period compared to $2.9 million in the third quarter of 2014, as gross profit from the LEAP program was offset by continued weak profitability in legacy programs.

For the reporting quarter, adjusted EBITDA rose higher to $42.0 million, compared to $33.5 million in the prior year's second quarter.

Income attributable to the company fell to $0.30 per share as against $0.37 in the comparable period of 2014.

However, excluding adjustments, income attributable to the company was $0.47 per share in the third quarter of 2015 vis-à-vis $0.31 in the corresponding quarter of last year.

Year-to-date net sales amounted to $532.4 million, down 3.8 per cent year on year. But excluding currency effects, year-to-date net sales increased 1.9 per cent.

Including a $14.0 million charge in the second quarter related to an AEC contract, year-to-date adjusted EBITDA was $102.3 million in 2015 versus $108.5 million in 2014.

Fibre2Fashion News Desk – India

Must ReadView All

Textiles | On 25th Mar 2017

GST to positively impact retail value chain: CBRE

The implementation of the Goods and Services Tax (GST) bill in India...

Textiles | On 25th Mar 2017

MEGlobal to build first ever US MEG plant

Monoethylene glycol (MEG) producer MEGlobal plans to construct a new...

Courtesy: Ulster Carpet

Textiles | On 25th Mar 2017

Ulster Carpets acquires Griffith Textile Machines

Northern Ireland based manufacturer of carpets, Ulster Carpets said...

Interviews View All

Saket Garg
Garg Corporation

The biggest challenge is lack of skilled workforce and competition from...

Jim Desai
Blaiva Fabricaa

Fashion industry likely to remain labour-intensive in coming years

Amrit Sethia
SOIE

‘The intimatewear category in India is slowly becoming trend-sensitive.’

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

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
March 2017

March 2017

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

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search