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Posted February 4, 2020

Kennametal sales drop 14 percent

Kennametal said its fiscal 2020 second quarter sales of $505 million decreased 14 percent from $587 million in the prior year quarter.


The decrease reflected a 12 percent organic sales decline, 1 percent unfavorable currency exchange effect and 1 percent decline from divestiture.

A net loss of $5.9 million, or 7 cents per share, compared to net income of $1.5 million, or 66 cents, in the same period last year.

By segment, Industrial sales of $279 million decreased 12 percent from $317 million year-over-year, driven by organic sales decline of 11 percent and a 1 percent unfavorable currency exchange impact.

Widia sales of $44 million decreased 9 percent from $49 million year-over-year, driven by organic sales decline of 8 percent and an unfavorable business day effect of 1 percent.

Infrastructure sales of $182 million decreased 18 percent from $221 million year-over-year, driven by organic sales decline of 14 percent, a 2 percent decline from divestiture, an unfavorable currency exchange impact of 1 percent and an unfavorable business day effect of 1 percent.

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