Posted April 28, 2011
Kennametal sales up 25%
Kennametal said its fiscal third quarter sales were $615 million, compared with $493 million in the same quarter last year.
Sales increased as a result of strong organic growth of 25 percent despite stronger comparisons last year. Sales growth was strong across both business segments and all regions.
Operating income was $88 million compared with operating income of $26 million in the same quarter last year.
Industrial segment sales of $392 million grew 28 percent from $306 million in the prior year quarter. On an organic basis, sales increased in all served market sectors led by strong growth in general engineering and transportation sales of 34 percent and 29 percent, respectively. On a regional basis, sales increased by approximately 32 percent in Asia, 29 percent in Europe and 23 percent in the Americas.
