Albany International Q2 Profit Decreases, Misses Estimates

(RTTNews) - Albany International (AIN) released a profit for second quarter that decreased from last year and missed the Street estimates.

The company's earnings totaled $24.6 million, or $0.79 per share. This compares with $26.7 million, or $0.85 per share, in last year's second quarter.

Excluding items, Albany International reported adjusted earnings of $0.89 per share for the period.

Analysts on average had expected the company to earn $0.91 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 21.2% to $332 million from $274 million last year.

Albany International earnings at a glance (GAAP) :

-Earnings (Q2): $24.6 Mln. vs. $26.7 Mln. last year. -EPS (Q2): $0.79 vs. $0.85 last year. -Revenue (Q2): $332 Mln vs. $274 Mln last year.

-Guidance: Full year EPS guidance: $3.55-$4.05 Full year revenue guidance: $1.26-$1.33 Bln