Kadant reported revenue of $98.3 million in the 2Q 2015, a decrease of $6.5 million, or 6%, compared with $104.8 million in the 2Q 2014. Revenue for the 2Q 2015 included $2.5 million from an acquisition and an $8.5 million decreased from the unfavorable effects of foreign currency translation compared to the 2Q 2014.

Kadant announces 6% decrease in 2Q revenue

14:52 / August 12, 2015

Aug 30, 2015. /Lesprom Network/. Kadant reported revenue of $98.3 million in the 2Q 2015, a decrease of $6.5 million, or 6%, compared with $104.8 million in the 2Q 2014. Revenue for the 2Q 2015 included $2.5 million from an acquisition and an $8.5 million decreased from the unfavorable effects of foreign currency translation compared to the 2Q 2014, as the company said in the press release received by Lesprom Network.

Operating income from continuing operations increased 5% to $12.6 million in the 2Q 2015 compared to $12 million in the 2Q 2014.

Net income from continuing operations was $8.5 million in the 2Q 2015, or $0.76 per diluted share, compared to $7.9 million, or $0.70 per diluted share, in the second quarter of 2014.

“We had another solid quarter with better-than-expected revenue and earnings per share along with excellent gross margin performance,” said Jonathan W. Painter, president and CEO of Kadant Inc. “Our diluted earnings per share from continuing operations was $0.76 in the 2Q 2015, which exceeded our guidance of $0.69 to $0.71. Our operating margin increased to nearly 13% in the 2Q 2015 compared to 11% in the 2Q 2014.”

Kadant Inc. is a global supplier of high-value, critical components and engineered systems used in process industries worldwide.

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Kadant announces 6% decrease in 2Q revenue

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