WESTFORD, Mass. (AP) — Kadant Inc. (KAI) on Wednesday reported fourth-quarter net income of $8.7 million.

On a per-share basis, the Westford, Massachusetts-based company said it had profit of 76 cents. Earnings, adjusted for one-time gains and costs, came to $1.32 per share.

The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.28 per share.

The equipment supplier for the papermaking and paper recycling industries posted revenue of $182.7 million in the period, also beating Street forecasts. Three analysts surveyed by Zacks expected $173.7 million.

For the year, the company reported profit of $52.1 million, or $4.54 per share. Revenue was reported as $704.6 million.

For the current quarter ending in April, Kadant said it expects revenue in the range of $153 million to $163 million.

The company expects full-year earnings in the range of $5 to $5.10 per share, with revenue ranging from $690 million to $700 million.

Kadant shares have climbed almost 7% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $112.25, an increase of 29% in the last 12 months.


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

Automated Insights

(0) comments

Welcome to the discussion.

Keep it Clean. Please avoid obscene, vulgar, lewd, racist or sexually-oriented language.
Don't Threaten. Threats of harming another person will not be tolerated.
Be Truthful. Don't knowingly lie about anyone or anything.
Be Nice. No racism, sexism or any sort of -ism that is degrading to another person.
Be Proactive. Use the 'Report' link on each comment to let us know of abusive posts.
Share with Us. We'd love to hear eyewitness accounts, the history behind an article.