Kadant’s 4Q 2017 revenue increased 49% to $149.1 million compared to the 4Q 2016, including $26.9 million from acquisitions and a $5 million increase from the favorable effect of foreign currency translation. Excluding the impact of acquisitions and foreign currency translation, revenue was up 17% compared to the 4Q 2016, as the company said in the press release received by Lesprom Network.
Gross margin was 43.3%, including a negative 120 basis point impact from the amortization of acquired profit in inventory.
Net income was $0.8 million, or $0.07 per diluted share, compared to $7.7 million, or $0.69 per diluted share, in the 4Q 2016.
Adjusted EBITDA increased 88% to $26.5 million compared to $14.1 million in the 4Q 2016.
FY 2017 revenue increased 24% to a record $515 million compared to 2016, including $69.4 million from acquisitions and a $3.8 million increase from the favorable effect of foreign currency translation.
FY 2017 net income was $31.1 million, or $2.75 per diluted share, compared to $32.1 million, or $2.88 per diluted share, in 2016.
Adjusted EBITDA increased 47% to $90.8 million compared to $61.9 million in 2016.
Kadant Inc. is a global supplier of high-value, critical components and engineered systems used in process industries worldwide.
