MSA revenue increased 8 percent
Global safety equipment manufacturer MSA Safety Incorporated reported fourth quarter revenue was $313 million, increasing 8 percent on a local currency basis.
The results were driven by a 4 percent gain from the recent acquisition of Latchways plc, a U.K.-based maker of fall protection systems.
Adjusted earnings were $32 million or 84 cents per diluted share versus 93 cents in the same period a year ago. Reported income from continuing operations was $21 million, or 55 cents per diluted share.
"Our fourth quarter results reflected strong execution of our strategy in a very challenging environment," said William M. Lambert, MSA chairman, president and CEO. "Despite the weakness we are seeing in the energy market and in key emerging market geographies, our full-year revenue finished at the high end of our mid-single digit local currency growth range target, and we continued to see strong returns from the organic investments we've made in R&D over the past several years."
Annual revenue was $1.1 billion, increasing 8 percent on a local currency basis, including 1 percent associated with the acquisition of Latchways.
Adjusted earnings were $95 million or $2.52 per diluted share versus $2.53 per diluted share for the same period a year ago. Reported income from continuing operations was $70 million, or $1.84 per diluted share.
INDUSTRIAL SUPPLY MAGAZINE
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