Apr 25, 2012. /Lesprom Network/. Kadant reported revenues from continuing operations of $84.1 million in the 1Q 2012, an increase of $12.4 million, or 17%, compared with $71.7 million in the 1Q 2011. Revenues for the 1Q 2012 included a $1.6 million increase from an acquisition and a $0.9 million decrease from foreign currency translation compared to the 1Q 2011, as the company said in a press release received by Lesprom Network. Operating income from continuing operations was $10.4 million in the 1Q 2012, including $0.3 million in expense associated with a facility consolidation, compared to $8.3 million in the 1Q 2011. Net income from continuing operations was $7.1 million in the 1Q 2012, or $0.61 per diluted share, compared to $5.8 million, or $0.47 per diluted share, in the 1Q 2011. Net income from continuing operations in the 1Q 2012 included a $0.3 million, or $0.03 per diluted share, after-tax expense associated with a facility consolidation. “We are off to a great start in 2012,” said Jonathan W. Painter, President and CEO of Kadant. “Diluted EPS from continuing operations was $0.61 in the 1Q 2012 and included $0.03 of expense associated with a facility consolidation that was not included in our guidance, which was $0.41 to $0.43. The increase over guidance was largely due to higher than expected gross profit margins in all our major product lines. “EBITDA was a record $12.6 million in the 1Q 2012, increasing 24% over the prior year’s 1Q. Our operating cash flows from continuing operations, normally weak in the 1Q, were a negative $4 million due to a $14 million increase in working capital, much of which we expect will turn to cash later in the year. We ended the quarter with $43 million in cash and $12 million in debt, or a net cash position of $31 million, down $4 million from the net cash position at the end of 2011. We also purchased $1.3 million of our common stock in the quarter, representing 58,100 shares at an average purchase price of slightly over $22 per share. “Bookings were $78 million in the 1Q 2012, down 8%from the 1Q 2011. This decline was due to a decrease in capital bookings particularly in our stock-preparation and fluid-handling product lines in China. Our parts and consumables bookings, however, were strong at $49 million, up 6% on a sequential basis.” Kadant Inc. is a leading supplier to the global pulp and paper industry. In addition, the company produces granules from papermaking byproducts for agricultural and lawn and garden applications.