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May 5, 2008, 4:45 a.m. EDT

Albany Intl swings to loss, will sell filtration-tech lines

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By Robert Daniel

AIN

TEL AVIV (MarketWatch) -- Albany International Inc., /zigman2/quotes/208627197/composite AIN -0.19% the Albany, N.Y., producer of specialty textiles for forest-products, aerospace, building-products and other applications, swung to a first-quarter net loss from a year-earlier profit and agreed to sell its filtration-technologies business for $45 million. The loss was $1.5 million, or a nickel a share, compared with net income of $9.3 million, or 31 cents, in the year-earlier period. Sales rose 9% to $273.2 million from $250.6 million. From continuing operations, the company had a loss of 6 cents a share against profit of 30 cents. The latest period reflected 36 cents of charges for restructuring and other matters. The buyer for the filtration business is All Filtration Technologies Australia Pty.

/zigman2/quotes/208627197/composite
US : U.S.: NYSE
$ 48.08
-0.09 -0.19%
Volume: 443,259
July 31, 2020 4:00p
P/E Ratio
14.05
Dividend Yield
1.58%
Market Cap
$1.56 billion
Rev. per Employee
$223,291
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