Kadant Inc. Q1 Profit Decreases, But Beats Estimates

(RTTNews) - Kadant Inc. (KAI) revealed earnings for first quarter that decreased from last year but beat the Street estimates.

The company's earnings totaled $24.06 million, or $2.04 per share. This compares with $24.69 million, or $2.10 per share, last year.

Excluding items, Kadant Inc. reported adjusted earnings of $24.67 million or $2.10 per share for the period.

Analysts on average had expected the company to earn $1.97 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period fell 3.9% to $239.21 million from $248.98 million last year.

Kadant Inc. earnings at a glance (GAAP) :

-Earnings: $24.06 Mln. vs. $24.69 Mln. last year. -EPS: $2.04 vs. $2.10 last year. -Revenue: $239.21 Mln vs. $248.98 Mln last year.

-Guidance: Full year EPS guidance: $9.05 to $9.25 Full year revenue guidance: $1.020 to $1.040 Bln