Albany International posts Q4 earnings of US$20.5M, compared with earnings of US$3.6M a year ago, on improved sales, foreign currency revaluation gains

Mathew Kearney

ROCHESTER, New Hampshire , February 10, 2011 (press release) – • Net income per share was $0.66 in the fourth quarter of 2010, including reductions for restructuring charges of $0.02, a gain on the sale of a building of $0.14, foreign currency revaluation gains of $0.07, and favorable income tax adjustments of $0.09.

• Net income per share was $0.12 in the fourth quarter of 2009, including reductions for restructuring charges of $0.03, a gain related to the extinguishment of debt of $0.09, foreign currency revaluation gains of $0.01, and unfavorable income tax adjustments of $0.24.

• Q4 2010 net sales were $244.6 million, an increase of 5.7 percent compared to Q4 2009.

• EBITDA was $46.7 million in the fourth quarter of 2010, including restructuring charges of $0.8 million, a gain on the sale of a building of $7.0 million, and foreign currency revaluation gains totaling $3.0 million.

• EBITDA in Q4 2009 was $35.8 million, including restructuring charges of $1.2 million, a gain on extinguishment of debt of $4.6 million, and foreign currency revaluation gains totaling $0.3 million.

Industry Intelligence Editor's note: In an omitted table, the company reported 2010 Q4 net income of US$20,5 million compared with $3.6 million in the same period a year ago.

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