Revenue Update on Albany International Corp.(NYSE:AIN)

Albany International Corp.(NYSE:AIN) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during After-hours on Aug 1, 2016. Company reported revenue of $203.19M. Analysts estimated a revenue of $196.47M. Earnings per share were $0.48. Analysts had estimated an EPS of $0.48.

Albany International Corp. (AIN) shares turned negative on Mondays trading session with the shares closing down -0.34 points or -0.79% at a volume of 75,957. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $43.59. The peak price level was also seen at $43.59 while the days lowest was $42.57. Finally the shares closed at $42.69. The 52-week high of the shares is $43.59 while the 52-week low is $27.64. According to the latest information available, the market cap of the company is $1,370 M.

Several Insider Transactions has been reported to the SEC. On May 11, 2016, Daniel A Halftermeyer (President, PMC) sold 4,000 shares at $38.57 per share price.Also, On May 28, 2015, Robert Alan Hansen (Senior Vice President & CTO) sold 6,230 shares at $39.80 per share price.On Feb 19, 2015, Joseph M Gaug (Assistant Secretary) sold 1,000 shares at $37.82 per share price, according to the Form-4 filing with the securities and exchange commission.

Albany International Corp. is an advanced textiles and materials processing company. The Company operates through two business segments: The Machine Clothing segment and the Albany Engineered Composites (AEC) segment. The Machine Clothing segment supplies permeable and impermeable belts used in the manufacture of paper paperboard non-wovens fiber cement and several other industrial applications. The Machine Clothing segment also supplies consumable fabrics used in the manufacturing process in the pulp corrugator non-wovens fiber cement building products and tannery and textile industries. The Company’s Albany Engineered Composites segment designs develops and manufactures advanced composite parts for aerospace and other applications using a range of core technologies including its 3D woven reinforced composites technology. The AEC segment primarily serves customers in commercial and military aircraft engine and airframe markets.

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