WESTFORD, Mass. (AP) 鈥� WESTFORD, Mass. (AP) 鈥� Kadant Inc. (KAI) on Tuesday reported second-quarter earnings of $32.5 million.
The Westford, Massachusetts-based company said it had net income of $2.75 per share. Earnings, adjusted for amortization costs and non-recurring costs, were $3.42 per share.
The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $2.94 per share.
The equipment supplier for the papermaking and paper recycling industries posted revenue of $312.9 million in the period, also surpassing Street forecasts. Three analysts surveyed by Zacks expected $298.2 million.
For the current quarter ending in September, Kadant expects its per-share earnings to range from $2.90 to $3.
The company said it expects revenue in the range of $297 million to $307 million for the fiscal third quarter.
Kadant expects full-year earnings in the range of $12.43 to $12.68 per share, with revenue ranging from $1.19 billion to $1.21 billion.
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