Kennametal Announces Fiscal 2015 First Quarter Results

Clicks:1692015-01-26 14:42:22　Source:Lamina tools,Lamina inserts,Lamina CNC cutting tools (Shandong) Co., Ltd.

- Total sales growth of 12 percent; organic sales growth of 1 percent

- Reported EPS of $0.49; adjusted EPS of $0.56

- Strong operating cash flow of $43 million

- Restructuring and related charges of $7 million

- Total expected restructuring benefits now range from $50 million to $55 million and total charges expected to range from $55 million to $60 million

 LATROBE, Pa., (October 30, 2014) – Kennametal Inc. (NYSE: KMT) today reported results for the fiscal first-quarter 2015, with earnings per diluted share (EPS) of $0.49, compared with the prior year quarter EPS of $0.48. The current quarter adjusted EPS were $0.56 absent restructuring and related charges, compared with prior year's adjusted EPS of $0.49 excluding acquisition charges.

 Carlos Cardoso, Kennametal Chairman and Chief Executive Officer said, “September quarter sales growth was driven by ongoing demand strength in our Industrial segment; however, our Infrastructure business was challenged by continued weak conditions in underground mining and road construction, partially offset by modest improvement in the oil and gas sector. We are pleased to have made significant progress in integrating the Tungsten Materials Business, and we are accelerating measures to reduce costs and improve efficiencies that should position Kennametal for improved profitability.” - See more at: http://www.kennametal.com/en/about-us/news/kennametal-fy15-first-quarter-results.html#sthash.7778ZzRW.dpuf