Home / Knowledge / News / Textiles / Kadant operating income up in Q1

Kadant operating income up in Q1

28
Apr '08
Kadant Inc reported revenues from continuing operations of $85.9 million in the first quarter of 2008, a decrease of $2.3 million, or 3 percent, compared to $88.2 million in the first quarter of 2007. The 2008 period included a $4.5 million, or 5 percent, increase from foreign currency translation and the 2007 period included $1.2 million in revenues from the Casting Products business that was sold in April 2007.

Excluding these items, revenues decreased $5.6 million, or 7 percent, in the first quarter of 2008 compared to the 2007 period. Operating income from continuing operations in the 2008 quarter increased 2 percent to $7.6 million versus $7.4 million in the first quarter of 2007.

This increase included a net gain from restructuring costs and other income of $0.5 million, most of which was associated with a gain on the sale of assets. Income from continuing operations (after-tax) was $5.1 million in the first quarter of 2008, or $.36 of diluted earnings per share (EPS), versus income of $4.7 million, or $.33 of diluted EPS, a year ago. Including the discontinued operation, net income in the first quarter of 2008 was $5.1 million, or $.36 per diluted share, versus $4.3 million, or $.30 per diluted share, in the 2007 quarter.

“Although our revenues were slightly below our guidance for the quarter, we were able to exceed the top end of our earnings guidance by 4 cents per diluted share,” said William A. Rainville, chairman and chief executive officer of Kadant.


Interviews View All

Top executives, Textile industry

Top executives
Textile industry

Technical textiles industry moving back to Europe

Top executives, Textile industry

Top executives
Textile industry

Defining MSMEs on the basis of turnover makes it simpler to do business

Top executives, Retailers

Top executives
Retailers

Weak rupee breeds inflation

Sham Shah,

Sham Shah

Shamal and Shamal Pvt Ltd is into manufacturing and sales of textile...

Marcel Moser,

Marcel Moser

Switzerland-based Benninger is a leading manufacturer of technologically...

Oliver Schmitz,

Oliver Schmitz

Germany-based Gmöhling is a leading manufacturer of aluminium containers...

Madison Maxey, Loomia

Madison Maxey
Loomia

Loomia designs and manufactures soft circuit systems that can be produced...

Johan Berlin, InvestKonsult Sweden AB

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

S Ziya Gumuser, Teknomelt

S Ziya Gumuser
Teknomelt

Turkish nonwoven manufacturer Teknomelt has been around for only seven...

Seema Agrawal, Artisan Saga

Seema Agrawal
Artisan Saga

Artisan Saga, founded by Kaushik Rajani and Seema Agrawal, is an online...

Pranav Mishra, Huemn

Pranav Mishra
Huemn

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

Divvya and Nidhhi Gambhir, Walnut

Divvya and Nidhhi Gambhir
Walnut

<b>Divvya and Nidhhi Gambhir</b> started their career with the launch of...

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

Leave your Comments


November 2019

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

Follow us on instagram

Follow

Follow Fibre2Fashion On


Advanced Search