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[August 2007]
Kennametal Announces Fourth Quarter and Full Year Results for Fiscal 2007
Kennametal Inc (Latrobe, PA, USA) has reported fiscal 2007 fourth quarter EPS of US$1.57. This represents a decrease of 62% from the prior year quarter reported EPS of US$4.11 and a 26% increase compared with prior year adjusted EPS of US$1.25. Prior year quarter EPS special items totalled US$2.86 per share and related primarily to the gain on the sale of J&L Industrial Supply of US$3.31 per share.Fiscal 2007 reported EPS decreased 31% to US$4.44 compared with prior year reported EPS of US$6.48. Fiscal 2007 adjusted EPS were US$4.56 compared with prior year adjusted EPS of US$3.95, an increase of 15%.
Carlos Cardoso, Kennametal's President and CEO said: "Once again, we demonstrated our ability to deliver solid sales growth and strong performance in EBIT margin, EPS and ROIC. During fiscal year 2007, we completed five acquisitions: Sintec, Camco, Federal Signal's cutting tool business, International Specialty Alloys and Kenci. We have strategically redeployed our cash to acquire businesses that both complement our existing portfolio and offer additional opportunities for sales growth and margin expansion.
"We attribute our successes to the strength of our operations, as well as to our proven strategy of balancing our business mix, geographic presence and end markets. As always, we continue to implement our strategy under the disciplines of the Kennametal Value Business System, our management operating system that serves as the foundation of our company. As we move forward, we will further capitalize on our strengths and opportunities to drive our operating and financial performance to even higher levels."
www.kennametal.com
ENDS