Kennametal Q4 sales rise 36 percent
Kennametal reported fourth-quarter fiscal 2021 sales were $516 million compared with $379 million in the same quarter last year, a 36 percent increase.
Net income of $35.1 million, or 41 cents per diluted share, improved from a net loss of $8.5 million, or a loss of 11 cents per share, in the same period last year.
Metal Cutting sales of $312 million increased 37 percent from $227 million in the prior year quarter.
Infrastructure sales of $204 million increased 34 percent from $152 million in the prior year.
For the full year, sales of $1.8 billion decreased from $1.1 billion in the prior year. Sales decreased by 2 percent, driven by 4 percent organic decline, partially offset by 2 percent favorable currency exchange effect.
Net income of $54.4 million for the year, or 65 cents per share, compared to a net loss of $5.0 million, or a loss of 7 cents per share, in the previous year.
INDUSTRIAL SUPPLY MAGAZINE
The March/April issue of Industrial Supply magazine features an in-depth cover story about Joyce Lansdale and Vallen. Plus, we're featuring articles by contributing writers Dirk Beveridge, Frank Hurtte, and David Kahle, as well as interviews with numerous product and distribution industry experts.
