Kadant's Inc. reported its financial results for the 4Q and fiscal year ended December 31, 2016. 4Q 2016 revenue was $100.2 million, a 7% decline compared to the 4Q 2015, inclusive of $12 million from an acquisition and a negative impact of $1.7 million from foreign currency translation.
4Q 2016 net income was $7.7 million, or $0.69 per diluted share, compared to $10.4 million, or $0.94 per diluted share, in the 4Q 2015.
Adjusted EBITDA was $14.1 million, a decrease of 18% from $17.2 million in the 4Q 2015. 4Q 2016 operating income was $10.7 million versus $14.4 million in the 4Q 2015.
Revenue increased 6% year-over-year to a record $414.1 million for fiscal 2016, inclusive of $40.8 million from an acquisition and a negative impact of $8.4 million from foreign currency translation.
FY 2016 net income was $32.1 million, or $2.88 per diluted share, compared to $34.4 million, or $3.10 per diluted share, in 2015.
Adjusted EBITDA increased 1% to a record $61.9 million from $61.5 million in 2015. Operating income was $45.6 million in 2016, compared to $50.1 million in the prior year.
Kadant Inc. is a global supplier of high-value, critical components and engineered systems used in process industries worldwide.
