Kadant Inc (KAI)

[AISI304]

Kadant Reports 2016 Third Quarter, Nine Month Results

http://www.businesswire.com/news/home/20161101006799/en/

WESTFORD, Mass.--(BUSINESS WIRE)--Nov. 1, 2016-- Kadant Inc. (NYSE: KAI) reported its financial results for the third quarter and nine months ended October 1, 2016.

Third Quarter 2016 Highlights

GAAP diluted EPS increased 5% to $0.82
Net income increased 6% to $9 million and represented 9% of revenue
Adjusted EBITDA increased 6% to $16 million
Revenue increased 15% to $106 million
Gross margin was 45.6%
Cash flow from operations was $16 million
Bookings were $95 million, down 4%
Nine Month 2016 Highlights

GAAP diluted EPS increased 1% to $2.19
Net income of $24 million was up 1%
Adjusted diluted EPS increased 10% to $2.41
Adjusted EBITDA increased 8% to $48 million
Revenue increased 11% to $314 million; parts and consumables accounted for 62%
Gross margin was 45.3%
Cash flow from operations increased 24% to $35 million
Bookings were $290 million, down 4%
Note: Adjusted EBITDA and adjusted diluted EPS are non-GAAP financial measures that exclude certain items as detailed later in this press release.