Albany International Q3 Profit Increases, beats estimates

(RTTNews) - Albany International (AIN) released earnings for its third quarter that increased from the same period last year and beat the Street estimates.

The company's bottom line totaled $27.1 million, or $0.87 per share. This compares with $10.7 million, or $0.34 per share, in last year's third quarter.

Excluding items, Albany International reported adjusted earnings of $1.02 per share for the period.

Analysts on average had expected the company to earn $0.92 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 7.9% to $281.1 million from $260.6 million last year.

Albany International earnings at a glance (GAAP) :

-Earnings (Q3): $27.1 Mln. vs. $10.7 Mln. last year. -EPS (Q3): $0.87 vs. $0.34 last year. -Analyst Estimate: $0.92 -Revenue (Q3): $281.1 Mln vs. $260.6 Mln last year.

-Guidance: Full year EPS guidance: $3.35 and $3.70 Full year revenue guidance: $1.100-$1.13 bln