PITTSBURGH (AP) — Kennametal Inc. on Wednesday reported fiscal fourth-quarter net income of $37.2 million.
On a per-share basis, the Pittsburgh-based engineered products maker said it had net income of 47 cents. Earnings, adjusted for restructuring costs and non-recurring costs, came to 49 cents per share.
The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 44 cents per share.
The company posted revenue of $543.3 million in the period, which also topped Street forecasts. Three analysts surveyed by Zacks expected $532.1 million.
For the year, the company reported profit of $109.3 million, or $1.37 per share. Revenue was reported as $2.05 billion.
For the current quarter ending in September, Kennametal expects its per-share earnings to range from 20 cents to 30 cents.
The company said it expects revenue in the range of $480 million to $500 million for the fiscal first quarter.
Kennametal expects full-year earnings in the range of $1.30 to $1.70 per share, with revenue ranging from $2 billion to $2.1 billion.
