AP NEWS

Kadant: 2Q Earnings Snapshot

July 30, 2018

WESTFORD, Mass. (AP) _ Kadant Inc. (KAI) on Monday reported second-quarter net income of $12.3 million.

On a per-share basis, the Westford, Massachusetts-based company said it had net income of $1.08. Earnings, adjusted for pretax gains, were $1.07 per share.

The equipment supplier for the papermaking and paper recycling industries posted revenue of $154.9 million in the period.

For the current quarter ending in October, Kadant said it expects revenue in the range of $162 million to $166 million.

The company expects full-year earnings in the range of $5 to $5.10 per share, with revenue ranging from $630 million to $638 million.

Kadant shares have declined almost 5 percent since the beginning of the year. In the final minutes of trading on Monday, shares hit $95.60, a climb of 23 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on KAI at https://www.zacks.com/ap/KAI

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