AISI304
6 years ago
Kadant Presenting at Baird 2018 Global Industrial Conference - CEO/Pres. Jonathan Painter will present on November 8, 2018
https://ih.advfn.com/p.php?pid=nmona&article=78427064&_ga=2.19651644.525794434.1539084556-1746739514.1538594300
Kadant Inc. (NYSE: KAI) announced that Jonathan W. Painter, president and chief executive officer, will present at the Baird 2018 Global Industrial Conference on Thursday, November 8, at 2 p.m. CST at the Four Seasons Hotel, Chicago, Illinois.
During the webcast, Mr. Painter will discuss the Company’s strategic focus, recent financial performance, and future expectations and goals.
To access the live webcast of the presentation, go to “Events” under the “Investors” section of the Company’s website at www.kadant.com.
About Kadant
Kadant Inc. is a global supplier of high-value, critical components and engineered systems used in process industries worldwide. The Company’s products, technologies, and services play an integral role in enhancing process efficiency, optimizing energy utilization, and maximizing productivity in resource-intensive industries. Kadant is based in Westford, Massachusetts, with approximately 2,500 employees in 20 countries worldwide. For more information, visit www.kadant.com.
Contacts
Investor Contact Information:
Michael McKenney, 978-776-2000
mike.mckenney@kadant.com
or
Media Contact Information:
Wes Martz, 269-278-1715
wes.martz@kadant.com
AISI304
6 years ago
Cash Dividend to Shareholders of Record NLT 10/11/2018
http://investor.kadant.com/news-releases/news-release-details/kadant-declares-cash-dividend-20
Kadant Declares Cash Dividend
September 12, 2018 at 4:14 PM EDT
WESTFORD, Mass., Sept. 12, 2018 (GLOBE NEWSWIRE) -- Kadant Inc. (NYSE: KAI) announced today that its Board of Directors has approved a quarterly cash dividend to stockholders of $0.22 per share to be paid on November 8, 2018 to stockholders of record as of the close of business on October 11, 2018. Future declarations of dividends are subject to Board approval and may be adjusted as business needs or market conditions change.
Kadant Inc. is a global supplier of high-value, critical components and engineered systems used in process industries worldwide. The Company’s products, technologies, and services play an integral role in enhancing process efficiency, optimizing energy utilization, and maximizing productivity in resource-intensive industries. Kadant is based in Westford, Massachusetts, with approximately 2,500 employees in 20 countries worldwide. For more information, visit www.kadant.com.
The following constitutes a “Safe Harbor” statement under the Private Securities Litigation Reform Act of 1995: This press release contains forward-looking statements that involve a number of risks and uncertainties, including forward-looking statements about our business, financial performance and cash dividend program. These forward-looking statements represent our expectations as of the date of this press release. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise. These forward-looking statements are subject to known and unknown risks and uncertainties that may cause our actual results to differ materially from these forward-looking statements as a result of various important factors, including those set forth under the heading "Risk Factors" in Kadant’s annual report on Form 10-K for the year ended December 30, 2017 and subsequent filings with the Securities and Exchange Commission. These include risks and uncertainties relating to adverse changes in global and local economic conditions; the variability and difficulty in accurately predicting revenues from large capital equipment and systems projects; our customers’ ability to obtain financing for capital equipment projects; the variability and uncertainties in sales of capital equipment in China; international sales and operations; the oriented strand board market and levels of residential construction activity; development and use of digital media; currency fluctuations; price increases or shortages of raw materials; dependence on certain suppliers; our acquisition strategy; failure of our information systems or breaches of data security; changes in government regulations and policies and compliance with laws; our internal growth strategy; competition; soundness of suppliers and customers; changes in our tax provision or exposure to additional tax liabilities; our ability to successfully manage our manufacturing operations; disruption in production; future restructurings; economic conditions and regulatory changes caused by the United Kingdom’s likely exit from the European Union; our debt obligations; restrictions in our credit agreement; loss of key personnel; protection of patents and proprietary rights; fluctuations in our share price; soundness of financial institutions; environmental laws and regulations; anti-takeover provisions; and reliance on third-party research.
Contacts
Investor Contact Information:
Michael McKenney, 978-776-2000
mike.mckenney@kadant.com
or
Media Contact Information:
Wes Martz, 269-278-1715
wes.martz@kadant.com
Kadant_Logo_BLK.jpg
Source: Kadant Inc
AISI304
6 years ago
KBC Group NV buys shares of Kadant Inc.
https://pressoracle.com/2018/09/02/kbc-group-nv-buys-shares-of-2701-kadant-inc-kai-2.html
KBC Group NV bought a new position in Kadant Inc. (NYSE:KAI) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 2,701 shares of the industrial products company’s stock, valued at approximately $260,000.
A number of other large investors have also recently made changes to their positions in the business.
Handelsbanken Fonder AB increased its position in shares of Kadant by 30.3% during the 2nd quarter. Handelsbanken Fonder AB now owns 495,000 shares of the industrial products company’s stock valued at $47,594,000 after purchasing an additional 115,000 shares during the last quarter.
Wells Fargo & Company MN increased its position in shares of Kadant by 6.4% during the 2nd quarter. Wells Fargo & Company MN now owns 481,564 shares of the industrial products company’s stock valued at $46,303,000 after purchasing an additional 28,784 shares during the last quarter.
JPMorgan Chase & Co. increased its position in shares of Kadant by 1.0% during the 1st quarter. JPMorgan Chase & Co. now owns 384,807 shares of the industrial products company’s stock valued at $36,365,000 after purchasing an additional 3,670 shares during the last quarter.
Wasatch Advisors Inc. boosted its holdings in Kadant by 81.2% during the 2nd quarter. Wasatch Advisors Inc. now owns 335,710 shares of the industrial products company’s stock valued at $32,279,000 after acquiring an additional 150,471 shares during the period.
Finally, Epoch Investment Partners Inc. boosted its holdings in Kadant by 3.5% during the 1st quarter. Epoch Investment Partners Inc. now owns 307,674 shares of the industrial products company’s stock valued at $29,075,000 after acquiring an additional 10,437 shares during the period. 97.60% of the stock is currently owned by institutional investors and hedge funds.
AISI304
6 years ago
Kadant, Inc. (KAI) Authorizes Share Repurchase effective 5/16/18
http://investor.kadant.com/news-releases/news-release-details/kadant-authorizes-share-repurchase-8Kadant Authorizes Share Repurchase
May 16, 2018 at 4:57 PM EDT
WESTFORD, Mass., May 16, 2018 (GLOBE NEWSWIRE) -- Kadant Inc. (NYSE:KAI) announced today that its Board of Directors has authorized the repurchase of up to $20 million of its equity securities effective May 16, 2018 through May 16, 2019. Repurchases may be made in public or private transactions, including under Securities Exchange Act Rule 10b-5-1 trading plans. The timing and amount of any repurchases will be at the discretion of Company management and will be based on market conditions and other considerations, including limitations contained in our credit agreement entered into on March 1, 2017. Through May 16, 2018, under the existing $20 million authorization that will expire on May 17, 2018, the Company has not repurchased any shares of its common stock.
Kadant Inc. is a global supplier of high-value, critical components and engineered systems used in process industries worldwide. The Company’s products, technologies, and services play an integral role in enhancing process efficiency, optimizing energy utilization, and maximizing productivity in resource-intensive industries. Kadant is based in Westford, Massachusetts, with approximately 2,500 employees in 20 countries worldwide. For more information, visit www.kadant.com.
The following constitutes a “Safe Harbor” statement under the Private Securities Litigation Reform Act of 1995: This press release contains forward-looking statements that involve a number of risks and uncertainties, including forward-looking statements regarding any plans to repurchase our equity securities. These forward-looking statements represent our expectations as of the date of this press release. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise. These forward-looking statements are subject to known and unknown risks and uncertainties that may cause our actual results to differ materially from these forward-looking statements as a result of various important factors, including those set forth under the heading "Risk Factors" in Kadant’s annual report on Form 10-K for the year ended December 30, 2017 and subsequent filings with the Securities and Exchange Commission. These include risks and uncertainties relating to adverse changes in global and local economic conditions; the variability and difficulty in accurately predicting revenues from large capital equipment and systems projects; our customers’ ability to obtain financing for capital equipment projects; the variability and uncertainties in sales of capital equipment in China; international sales and operations; the oriented strand board market and levels of residential construction activity; development and use of digital media; currency fluctuations; price increases or shortages of raw materials; dependence on certain suppliers; our acquisition strategy; failure of our information systems or breaches of data security; changes in government regulations and policies and compliance with laws; our internal growth strategy; competition; soundness of suppliers and customers; changes in our tax provision or exposure to additional tax liabilities; our ability to successfully manage our manufacturing operations; disruption in production; future restructurings; economic conditions and regulatory changes caused by the United Kingdom’s likely exit from the European Union; our debt obligations; restrictions in our credit agreement; loss of key personnel; protection of patents and proprietary rights; fluctuations in our share price; soundness of financial institutions; environmental laws and regulations; anti-takeover provisions; and reliance on third-party research.
Contacts
Investor Contact Information:
Michael McKenney, 978-776-2000
mike.mckenney@kadant.com
or
Media Contact Information:
Wes Martz, 269-278-1715
wes.martz@kadant.com
Primary Logo
Source: Kadant Inc
AISI304
7 years ago
Kadant Inc Reports its 2018 First Quarter Financials
http://investor.kadant.com/news-releases/news-release-details/kadant-reports-2018-first-quarter-results
Kadant Reports 2018 First Quarter Results
April 30, 2018 at 4:34 PM EDT
Reports Record Bookings of $182 Million
Raises Full-Year Revenue and EPS Guidance
WESTFORD, Mass., April 30, 2018 (GLOBE NEWSWIRE) -- Kadant Inc. (NYSE:KAI) reported its financial results for the first quarter ended March 31, 2018.
First Quarter 2018 Highlights
Revenue increased 45% to $149 million
GAAP diluted EPS increased 20% to $0.96
Adjusted diluted EPS increased 30% to $1.07
Net income increased 21% to $11 million
Adjusted EBITDA increased 49% to $24 million and represented 16% of revenue
Gross margin was 44.3%
Bookings increased 53% to a record $182 million
Record bookings and revenue for parts and consumables of $103 and $96 million, respectively
Backlog increased 24% sequentially to a record $180 million
Cash flow from operations was $7 million
Note: Adjusted diluted EPS, adjusted EBITDA, and adjusted EBITDA margin are non-GAAP financial measures that exclude certain items as detailed later in this press release under the heading “Use of Non-GAAP Financial Measures.”
Management Commentary
“We had a great start to 2018 with record bookings and solid EPS performance in the first quarter,” said Jonathan Painter, president and chief executive officer. “We saw excellent performance by our newly acquired businesses as well as strong internal growth, which was broad-based both geographically and across our product lines. Our backlog increased 24 percent sequentially to a record $180 million and our bookings were a record $182 million leading us to increase our revenue and EPS guidance for the year.
“Our record bookings performance of $182 million was led by strong capital bookings in North America and Europe and record parts and consumables bookings of $103 million. As a long-standing strategic focus of ours, I am pleased to see these positive results with our parts and consumables business.”
First Quarter 2018 Results
Revenue increased 45 percent to $149.2 million compared to the first quarter of 2017, including $34.8 million from acquisitions and a $6.7 million increase from the favorable effect of foreign currency translation. Excluding the impact of acquisitions and foreign currency translation, revenue increased five percent compared to the first quarter of 2017. Gross margin was 44.3 percent. Net income increased 21 percent to $10.9 million, or $0.96 per diluted share, compared to $9.0 million, or $0.80 per diluted share, in the first quarter of 2017. Adjusted diluted EPS increased 30 percent to $1.07 compared to $0.82 in the first quarter of 2017. Adjusted diluted EPS in the first quarter of 2018 excludes $0.05 of restructuring costs, $0.04 of discrete tax expense, and $0.02 of amortization from acquired backlog. Adjusted diluted EPS in the first quarter of 2017 excludes $0.02 of acquisition costs.
Adjusted EBITDA increased 49 percent to $23.5 million compared to $15.8 million in the first quarter of 2017. Adjusted EBITDA excludes $0.8 million of restructuring costs and $0.3 million of amortization from acquired backlog in the first quarter of 2018 and $0.3 million of acquisition costs in the first quarter of 2017. Cash flows from operations increased to $7.2 million compared to $1.7 million in the first quarter of 2017. Bookings increased 53 percent to a record $181.9 million compared to $118.9 million in the first quarter of 2017 and includes $40.2 million from acquisitions and a $8.2 million increase from the favorable effect of foreign currency translation. Excluding the impact of acquisitions and foreign currency translation, bookings increased 12 percent compared to the first quarter of 2017.
Summary and Outlook
“We are encouraged by our bookings trend and the excellent start to 2018,” Mr. Painter continued. “Based on our record bookings performance in the first quarter, as well as our outlook for the remainder of the year, we are increasing our guidance for 2018. We expect to report full year revenue of $625 to $635 million, increased from our previous guidance of $605 to $615 million. We expect to achieve GAAP diluted EPS of $4.98 to $5.08 in 2018, increased from our previous guidance of $4.74 to $4.84. The 2018 guidance incorporates an increase in our forecasted interest and tax expense. The 2018 guidance includes pre-tax restructuring costs of $1.7 million, or $0.11 per diluted share, discrete tax expense of $0.4 million, or $0.04 per diluted share, and pre-tax amortization expense associated with acquired backlog of $0.2 million, or $0.02 per diluted share. Excluding these expenses, we expect adjusted diluted EPS of $5.15 to $5.25 for 2018. For the second quarter of 2018, we expect GAAP diluted EPS of $0.89 to $0.94 on revenue of $150 to $154 million. The second quarter of 2018 guidance includes pre-tax restructuring costs of $0.8 million, or $0.06 per diluted share. Excluding this expense, we expect adjusted diluted EPS of $0.95 to $1.00 for the second quarter of 2018.”
Conference Call
Kadant will hold a webcast with a slide presentation for investors on Tuesday, May 1, 2018, at 11:00 a.m. eastern time to discuss its first quarter performance, as well as future expectations. To access the webcast, including the slideshow and accompanying audio, go to www.kadant.com and click on “Investors”. To listen to the webcast via teleconference, call 888-326-8410 within the U.S., or +1-704-385-4884 outside the U.S. and reference participant passcode 2990429. Prior to the call, our earnings release and the slides used in the webcast presentation will be filed with the Securities and Exchange Commission and will be available at www.sec.gov. An archive of the webcast presentation will be available on our website until June 1, 2018.
Shortly after the webcast, Kadant will post its updated general investor presentation incorporating the first quarter results on its website at www.kadant.com under the “Investors” section.
Use of Non-GAAP Financial Measures
In addition to the financial measures prepared in accordance with generally accepted accounting principles (GAAP), we use certain non-GAAP financial measures, including increases or decreases in revenue excluding the effect of acquisitions and foreign currency translation, adjusted operating income, adjusted net income, adjusted diluted earnings per share (EPS), earnings before interest, taxes, depreciation, and amortization (EBITDA), adjusted EBITDA, and adjusted EBITDA margin.
We believe these non-GAAP financial measures, when taken together with the corresponding GAAP financial measures, provide meaningful supplemental information regarding our performance by excluding certain items that may not be indicative of our core business, operating results, or future outlook. We believe that the inclusion of such measures helps investors gain an understanding of our underlying operating performance and future prospects, consistent with how management measures and forecasts our performance, especially when comparing such results to previous periods or forecasts and to the performance of our competitors. Such measures are also used by us in our financial and operating decision-making and for compensation purposes. We also believe this information is responsive to investors' requests and gives them an additional measure of our performance.
The non-GAAP financial measures included in this press release are not meant to be considered superior to or a substitute for the results of operations prepared in accordance with GAAP. In addition, the non-GAAP financial measures included in this press release have limitations associated with their use as compared to the most directly comparable GAAP measures, in that they may be different from, and therefore not comparable to, similar measures used by other companies.
Revenue included $34.8 million from acquisitions and a $6.7 million favorable foreign currency translation effect in the first quarter of 2018. We present increases or decreases in revenue excluding the effect of acquisitions and foreign currency translation to provide investors insight into underlying revenue trends.
Our non-GAAP financial measures exclude restructuring costs, acquisition costs, amortization expense related to acquired backlog and discrete tax expense. These items are excluded as they are not indicative of our core operating results and are not comparable to other periods, which have differing levels of incremental costs or income or none at all.
Adjusted operating income, adjusted EBITDA, and adjusted EBITDA margin exclude:
Pre-tax restructuring costs of $0.8 million in the first quarter of 2018.
Pre-tax expense related to acquired backlog of $0.3 million in the first quarter of 2018.
Pre-tax acquisition costs of $0.3 million in the first quarter of 2017.
Adjusted net income and adjusted diluted EPS exclude:
After-tax restructuring costs of $0.6 million ($0.8 million net of tax of $0.2 million) in the first quarter of 2018.
After-tax expense related to acquired backlog of $0.2 million ($0.3 million net of tax of $0.1 million) in the first quarter of 2018.
Discrete tax expense of $0.4 million in the first quarter of 2018.
After-tax acquisition costs of $0.2 million ($0.3 million net of tax of $0.1 million) in the first quarter of 2017.
Reconciliations of the non-GAAP financial measures to the most directly comparable GAAP financial measures are set forth in this press release.
[PLEASE REFER (CLICK ON LINK PROVIDED) TO ATTACHED DOCUMENT FOR ITEMIZED REPORT NUMBERS]
a) Prior period amounts have been restated to conform to the current period presentation as a result of the adoption of the Financial Accounting Standards Board's Accounting Standards Update No. 2017-07.
(b) Represents a non-GAAP financial measure.
(c) Discrete tax items in 2018 primarily relate to the impact of new guidance associated with the U.S. tax legislation enacted in December 2017.
(d) Represents the increase (decrease) resulting from the exclusion of acquisitions and from the conversion of current period amounts reported in local currencies into U.S. dollars at the exchange rate of the prior period compared to the U.S. dollar amount reported in the prior period.
(e) Geographic revenues are attributed to regions based on customer location.
(f) See reconciliation to the most directly comparable GAAP financial measure under "Adjusted Operating Income and Adjusted EBITDA Reconciliation."
(g) Represents intangible amortization expense associated with acquired backlog.
(h) Calculated as adjusted EBITDA divided by revenue in each period.
About Kadant
Kadant Inc. is a global supplier of high-value, critical components and engineered systems used in process industries worldwide. The Company’s products, technologies, and services play an integral role in enhancing process efficiency, optimizing energy utilization, and maximizing productivity in resource-intensive industries. Kadant is based in Westford, Massachusetts, with 2,500 employees in 20 countries worldwide. For more information, visit www.kadant.com.
Safe Harbor Statement
The following constitutes a “Safe Harbor” statement under the Private Securities Litigation Reform Act of 1995: This press release contains forward-looking statements that involve a number of risks and uncertainties, including forward-looking statements about our future financial and operating performance, demand for our products, and economic and industry outlook. These forward-looking statements represent Kadant’s expectations as of the date of this press release. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise. These forward-looking statements are subject to known and unknown risks and uncertainties that may cause our actual results to differ materially from these forward-looking statements as a result of various important factors, including those set forth under the heading "Risk Factors" in Kadant’s annual report on Form 10-K for the year ended December 30, 2017 and subsequent filings with the Securities and Exchange Commission. These include risks and uncertainties relating to adverse changes in global and local economic conditions; the variability and difficulty in accurately predicting revenues from large capital equipment and systems projects; our customers’ ability to obtain financing for capital equipment projects; the variability and uncertainties in sales of capital equipment in China; international sales and operations; the oriented strand board market and levels of residential construction activity; development and use of digital media; currency fluctuations; price increases or shortages of raw materials; dependence on certain suppliers; our acquisition strategy; failure of our information systems or breaches of data security; changes in government regulations and policies and compliance with laws; our internal growth strategy; competition; soundness of suppliers and customers; changes in our tax provision or exposure to additional tax liabilities; our ability to successfully manage our manufacturing operations; disruption in production; future restructurings; economic conditions and regulatory changes caused by the United Kingdom’s likely exit from the European Union; our debt obligations; restrictions in our credit agreement; loss of key personnel; protection of patents and proprietary rights; fluctuations in our share price; soundness of financial institutions; environmental laws and regulations; anti-takeover provisions; and reliance on third-party research.
Contacts
Investor Contact Information:
Michael McKenney, 978-776-2000
mike.mckenney@kadant.com
or
Media Contact Information:
Wes Martz, 269-278-1715
wes.martz@kadant.com
Primary Logo
Source: Kadant Inc
AISI304
7 years ago
KAI Conference Call replay available through June 1st
http://investor.kadant.com/news-releases/news-release-details/kadant-hold-earnings-conference-call-tuesday-may-1-2018
Kadant to Hold Earnings Conference Call on Tuesday, May 1, 2018
April 26, 2018 at 10:08 AM EDT
WESTFORD, Mass., April 26, 2018 (GLOBE NEWSWIRE) -- Kadant Inc. (NYSE:KAI) announced it will release its 2018 first quarter results after the market closes on Monday, April 30, 2018 and will hold a webcast the next day, Tuesday, May 1, 2018 at 11:00 a.m. eastern time. During the call the Company will discuss its first quarter financial performance and future expectations.
To listen to the call live, go to the “Investors” section of the Company’s website at www.kadant.com. To participate in the live question and answer session, dial 888-326-8410 within the U.S., or +1-704-385-4884 outside the U.S., and reference participant passcode 2990429. The earnings release and webcast presentation will be posted in the “Investors” section of the Company’s website. A replay of the webcast will be available on our website through June 1, 2018.
About Kadant
Kadant Inc. is a global supplier of high-value, critical components and engineered systems used in process industries worldwide. The Company’s products, technologies, and services play an integral role in enhancing process efficiency, optimizing energy utilization, and maximizing productivity in resource-intensive industries. Kadant is based in Westford, Massachusetts, with approximately 2,500 employees in 20 countries worldwide. For more information, visit www.kadant.com.
Contacts
Investor Contact Information:
Michael McKenney, 978-776-2000
mike.mckenney@kadant.com
or
Media Contact Information:
Wes Martz, 269-278-1715
wes.martz@kadant.com
Primary Logo
Source: Kadant Inc
AISI304
7 years ago
Kadant Declares Cash Dividend paying May 10, 2018
http://investor.kadant.com/news-releases/news-release-details/kadant-declares-cash-dividend-18
Kadant Declares Cash Dividend
March 8, 2018 at 1:11 PM EST
Raises Quarterly Dividend to $0.22 per Share
WESTFORD, Mass., March 08, 2018 (GLOBE NEWSWIRE) -- Kadant Inc. (NYSE:KAI) announced that its Board of Directors increased its quarterly cash dividend to stockholders to $0.22 per share to be paid on May 10, 2018 to stockholders of record as of the close of business on April 12, 2018. Future declarations of dividends are subject to Board approval and may be adjusted as business needs or market conditions change.
Kadant Inc. is a global supplier of high-value, critical components and engineered systems used in process industries worldwide. The Company’s products, technologies, and services play an integral role in enhancing process efficiency, optimizing energy utilization, and maximizing productivity in resource-intensive industries. Kadant is based in Westford, Massachusetts, with approximately 2,400 employees in 20 countries worldwide. For more information, visit www.kadant.com.
The following constitutes a “Safe Harbor” statement under the Private Securities Litigation Reform Act of 1995: This press release contains forward-looking statements that involve a number of risks and uncertainties, including forward-looking statements about our business, financial performance and cash dividend program. These forward-looking statements represent our expectations as of the date of this press release. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise. These forward-looking statements are subject to known and unknown risks and uncertainties that may cause our actual results to differ materially from these forward-looking statements as a result of various important factors, including those set forth under the heading "Risk Factors" in Kadant’s annual report on Form 10-K for the year ended December 30, 2017 and subsequent filings with the Securities and Exchange Commission. These include risks and uncertainties relating to adverse changes in global and local economic conditions; the variability and difficulty in accurately predicting revenues from large capital equipment and systems projects; our customers’ ability to obtain financing for capital equipment projects; the variability and uncertainties in sales of capital equipment in China; international sales and operations; the oriented strand board market and levels of residential construction activity; development and use of digital media; currency fluctuations; price increases or shortages of raw materials; dependence on certain suppliers; our acquisition strategy; failure of our information systems or breaches of data security; changes in government regulations and policies and compliance with laws; our internal growth strategy; competition; soundness of suppliers and customers; changes in our tax provision or exposure to additional tax liabilities; our ability to successfully manage our manufacturing operations; disruption in production; future restructurings; economic conditions and regulatory changes caused by the United Kingdom’s likely exit from the European Union; our debt obligations; restrictions in our credit agreement; loss of key personnel; protection of patents and proprietary rights; fluctuations in our share price; soundness of financial institutions; environmental laws and regulations; anti-takeover provisions; and reliance on third-party research.
Contacts
Investor Contact Information:
Michael McKenney, 978-776-2000
mike.mckenney@kadant.com
or
Media Contact Information:
Wes Martz, 269-278-1715
wes.martz@kadant.com
Primary Logo
Source: Kadant Inc
AISI304
7 years ago
KAI announces 8/14/17 acquisition completion of Unaflex assets for $31 million in cash
http://www.businesswire.com/news/home/20170814005966/en/
August 14, 2017 04:46 PM Eastern Daylight Time
WESTFORD, Mass.--(BUSINESS WIRE)--Kadant Inc. (NYSE: KAI) announced today the completion of its acquisition of certain assets of Unaflex, LLC for $31 million in cash, subject to a post-closing adjustment. Unaflex is a leading manufacturer of expansion joints and related products for process industries. Expansion joints, also known as compensators, are used in industrial piping systems to absorb thermal movement. They are commonly used in industries such as petrochemical, power generation, and water treatment, among others.
“Our acquisition of the Unaflex business, a leader in the design and manufacture of elastomeric, metal, and fabric expansion joints, will broaden our product portfolio offered to process industries that require critical components for maximum uptime and operational efficiency”
“Our acquisition of the Unaflex business, a leader in the design and manufacture of elastomeric, metal, and fabric expansion joints, will broaden our product portfolio offered to process industries that require critical components for maximum uptime and operational efficiency,” said Jonathan Painter, president and chief executive officer of Kadant Inc. “With parts and consumables making up virtually all the company’s revenue stream, it fits well with our strategy of growing our aftermarket business and we expect the company to be a solid addition to our Fluid-Handling product line.”
Unaflex, LLC has its principal operation in South Carolina with approximately 140 employees and 2016 revenue of $18 million.
About Kadant
Kadant Inc. is a global supplier of high-value, critical components and engineered systems used in process industries worldwide. The Company’s products, technologies, and services play an integral role in enhancing process efficiency, optimizing energy utilization, and maximizing productivity in resource-intensive industries. Kadant is based in Westford, Massachusetts, with approximately 2,300 employees in 20 countries worldwide. For more information, visit www.kadant.com.
AISI304
7 years ago
Kadant to Acquire NII FPG Company’s Forest Products Business
http://www.businesswire.com/news/home/20170530006330/en/
May 30, 2017 04:25 PM Eastern Daylight Time
WESTFORD, Mass.--(BUSINESS WIRE)--Kadant Inc. (NYSE: KAI) has entered into a definitive agreement to acquire the forest products business of NII FPG Company for $173 million in cash, subject to a post-closing adjustment. The Company also announced that it has increased its revolving credit facility to $300 million from $200 million and intends to finance the transaction through borrowings under the revolving credit facility.
“Our acquisition of the forest products business of NII FPG extends our presence deeper into the forest products industry and complements our existing wood processing product line”
NII FPG Company is a global leader in the design and manufacture of equipment used by sawmills, veneer mills, and other manufacturers in the forest products industry. The company also designs and manufactures harvesting equipment used in cutting, gathering, and removing timber from forest plantations. The transaction is expected to close in July 2017.
“Our acquisition of the forest products business of NII FPG extends our presence deeper into the forest products industry and complements our existing wood processing product line,” said Jonathan Painter, president and chief executive officer of Kadant Inc. “NII FPG is a leader in its markets with a history of stable earnings, a strong parts and consumables business, and a solid reputation as a premium manufacturer of products that have a high impact in customers’ operations. We expect the company will make a strong contribution to our business.” Mr. Painter continued, “With more than 50 percent of NII FPG’s business coming from parts and consumables, this acquisition will also advance our strategic plan to increase our aftermarket revenue.”
The forest products business of NII FPG Company includes two primary manufacturing facilities and approximately 275 employees worldwide with reported revenue of approximately $81 million for the 12 months ended December 31, 2016.
Conference Call
Kadant will hold a conference call and webcast on Wednesday, May 31, 2017, at 8:30 a.m. eastern time to discuss the pending acquisition. To listen to the call and view the webcast, go to the “Investors” section of the Company’s website at www.kadant.com. To participate in the question and answer session, dial 888-326-8410 within the U.S., or +1-704-385-4884 outside the U.S., and reference participant passcode 31814221. A replay of the webcast will be available on the Company’s website through June 16, 2017.
AISI304
8 years ago
Kadant Inc. (NYSE:KAI): $0.21 per Share Cash Dividend Declared
http://www.businesswire.com/news/home/20170517006301/en/Kadant-Declares-Cash-Dividend
Kadant Declares Cash Dividend
May 17, 2017 04:28 PM Eastern Daylight Time
WESTFORD, Mass.--(BUSINESS WIRE)--Kadant Inc. (NYSE: KAI) announced that its Board of Directors has approved a quarterly cash dividend to stockholders of $0.21 per share to be paid on August 10, 2017 to stockholders of record as of the close of business on July 13, 2017. Future declarations of dividends are subject to Board approval and may be adjusted as business needs or market conditions change.
Kadant Inc. is a global supplier of high-value, critical components and engineered systems used in process industries worldwide. The Company’s products, technologies, and services play an integral role in enhancing process efficiency, optimizing energy utilization, and maximizing productivity in resource-intensive industries. Kadant is based in Westford, Massachusetts, with 2,000 employees in 18 countries worldwide. For more information, visit www.kadant.com.
The following constitutes a “Safe Harbor” statement under the Private Securities Litigation Reform Act of 1995: This press release contains forward-looking statements that involve a number of risks and uncertainties, including forward-looking statements about our business, financial performance and cash dividend program. Our actual results may differ materially from these forward-looking statements as a result of various important factors, including those set forth under the heading "Risk Factors" in Kadant’s annual report on Form 10-K for the year ended December 31, 2016 and subsequent filings with the Securities and Exchange Commission. These include risks and uncertainties relating to adverse changes in global and local economic conditions; the variability and difficulty in accurately predicting revenues from large capital equipment and systems projects; the variability and uncertainties in sales of capital equipment in China; currency fluctuations; our customers’ ability to obtain financing for capital equipment projects; changes in government regulations and policies; the oriented strand board market and levels of residential construction activity; development and use of digital media; price increases or shortages of raw materials; dependence on certain suppliers; international sales and operations; economic conditions and regulatory changes caused by the United Kingdom’s likely exit from the European Union; disruption in production; our acquisition strategy; our internal growth strategy; competition; soundness of suppliers and customers; our effective tax rate; future restructurings; soundness of financial institutions; our debt obligations; restrictions in our credit agreement; loss of key personnel; reliance on third-party research; protection of patents and proprietary rights; failure of our information systems or breaches of data security; fluctuations in our share price; and anti-takeover provisions. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise.
Contacts
Kadant Inc.
Investor Contact Information:
Michael McKenney, 978-776-2000
mike.mckenney@kadant.com
or
Media Contact Information:
Wes Martz, 269-278-1715
wes.martz@kadant.com
AISI304
8 years ago
Kadant Inc. (NYSE:KAI): Authorized Share Repurchase Announced
http://www.businesswire.com/news/home/20170517006293/en/Kadant-Authorizes-Share-Repurchase
Kadant Authorizes Share Repurchase
May 17, 2017 04:24 PM Eastern Daylight Time
WESTFORD, Mass.--(BUSINESS WIRE)--Kadant Inc. (NYSE: KAI) announced today that its Board of Directors has authorized the repurchase of up to an additional $20 million of its equity securities effective May 17, 2017 through May 17, 2018. Repurchases may be made in public or private transactions, including under Securities Exchange Act Rule 10b-5-1 trading plans. The timing and amount of any repurchases will be at the discretion of Company management and will be based on market conditions and other considerations, including limitations contained in our credit agreement entered into on March 1, 2017. Through May 17, 2017, under the existing $20 million authorization that will expire on May 18, 2017, the Company has not repurchased any shares of its common stock.
Kadant Inc. is a global supplier of high-value, critical components and engineered systems used in process industries worldwide. The Company’s products, technologies, and services play an integral role in enhancing process efficiency, optimizing energy utilization, and maximizing productivity in resource-intensive industries. Kadant is based in Westford, Massachusetts, with 2,000 employees in 18 countries worldwide. For more information, visit www.kadant.com.
The following constitutes a “Safe Harbor” statement under the Private Securities Litigation Reform Act of 1995: This press release contains forward-looking statements that involve a number of risks and uncertainties, including forward-looking statements regarding any plans to repurchase our equity securities. Our actual results may differ materially from these forward-looking statements as a result of various important factors, including those set forth under the heading "Risk Factors" in Kadant’s annual report on Form 10-K for the year ended December 31, 2016 and subsequent filings with the Securities and Exchange Commission. These include risks and uncertainties relating to adverse changes in global and local economic conditions; the variability and difficulty in accurately predicting revenues from large capital equipment and systems projects; the variability and uncertainties in sales of capital equipment in China; currency fluctuations; our customers’ ability to obtain financing for capital equipment projects; changes in government regulations and policies; the oriented strand board market and levels of residential construction activity; development and use of digital media; price increases or shortages of raw materials; dependence on certain suppliers; international sales and operations; economic conditions and regulatory changes caused by the United Kingdom’s likely exit from the European Union; disruption in production; our acquisition strategy; our internal growth strategy; competition; soundness of suppliers and customers; our effective tax rate; future restructurings; soundness of financial institutions; our debt obligations; restrictions in our credit agreement; loss of key personnel; reliance on third-party research; protection of patents and proprietary rights; failure of our information systems or breaches of data security; fluctuations in our share price; and anti-takeover provisions. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise.
Kadant Inc. Contacts:
Investor Contact Information:
Michael McKenney, 978-776-2000
mike.mckenney@kadant.com
or
Media Contact Information:
Wes Martz, 269-278-1715
wes.martz@kadant.com
AISI304
8 years ago
Kadant to Attend 11th Annual Barrington Research Conference in Chicago IL, Thursday, May 11, 2017
Conference Focus/Benefits:
Efficient Format: Our conference features a full day of intimate 1-on-1 and small group meetings between company management teams and investors.
Better Results: Meaningful interaction between company management and investors maximizes time and facilitates more efficient investment decision-making.
http://brai.com/research/conferences/
"The Annual Barrington Research Spring Conference features meetings with senior management from 25 leading companies which include: Atento S.A., Autobytel, Inc., Bottomline Technologies, Inc., Echo Global Logistics, Inc., Gentherm, Inc., GP Strategies Corporation, Heritage-Crystal Clean, Inc., Horizon Global Corporation, Huron Consulting Group, Inc., InnerWorkings, Inc., Kadant, Inc., KAR Auction Services, Inc., Koppers Holdings, Inc., Littelfuse, Inc., MSA Safety, Inc., Navigant Consulting, Inc., Oshkosh Corporation, Planet Payment, Inc., PRGX Global, Inc., Regal Beloit Corporation, Snap-on Incorporated, SP Plus Corporation, Superior Uniform Group, Inc., Woodward, Inc., and Zebra Technologies Corporation"
AISI304
8 years ago
Kadant Inc. Declares Cash Dividend of $0.21 per Share
http://www.businesswire.com/news/home/20170308006430/en/
Raises Quarterly Dividend 11% to $0.21 per Share
March 08, 2017 05:14 PM Eastern Standard Time
WESTFORD, Mass.--(BUSINESSWIRE)--Kadant Inc. (NYSE:KAI) announced its Board of Directors approved an 11% increase to its quarterly cash dividend to stockholders to $0.21 per share to be paid May 11, 2017
to stockholders of record as of the close of business on April 13, 2017. Future declarations of dividends are subject to Board approval and may be adjusted as business needs or market conditions change.
Kadant Inc. is a global supplier of high-value, critical components and engineered systems used in process industries worldwide. The Company’s products, technologies, and services play an integral role in enhancing
process efficiency, optimizing energy utilization, and maximizing productivity in resource-intensive industries. Kadant is based in Westford, Massachusetts, with 2,000 employees in 18 countries worldwide.
For more information, visit www.kadant.com.
Contacts
Kadant Investor Contact Information:
Michael McKenney, 978-776-2000
mike.mckenney@kadant.com
Media Contact Information:
Wes Martz, 269-278-1715
wes.martz@kadant.com
AISI304
8 years ago
Kadant Reports 4th Quarter 2016 and FY 2016 Results
Q4 Bookings Increase 20% Sequentially
http://www.businesswire.com/news/home/20170223006617/en/
February 23, 2017 04:07 PM Eastern Standard Time
WESTFORD, Mass.--(BUSINESS WIRE)--Kadant Inc. (NYSE: KAI) reported its financial results for the fourth quarter and fiscal year ended December 31, 2016.
“Adjusted Operating Income and Adjusted EBITDA Reconciliation.”
Fourth Quarter Financial Highlights
Revenue was $100 million vs. $108 million
Gross margin was 46%
Diluted EPS was $0.69 vs. $0.94
Net Income was $8 million vs. $10 million
Adjusted EBITDA was $14.1 million vs. $17.2 million
Bookings were $114 million vs. $76 million
Cash flows from operations were $16 million vs. $12 million
Fiscal Year Financial Highlights
Revenue was a record $414 million vs. $390 million
Gross margin was 45.5%
Diluted EPS was $2.88 vs. $3.10; Adjusted Diluted EPS was $3.10 vs. $3.13
Net Income was $32 million vs. $34 million
Adjusted EBITDA was a record $61.9 million vs. $61.5 million
Bookings were $403 million vs. $376 million
Cash flows from operations were $51 million vs. $40 million
Note: Adjusted diluted EPS and adjusted EBITDA are non-GAAP measures that exclude certain items as detailed later in this press release under the heading “Use of Non-GAAP Financial Measures.”
Management Commentary
“We are pleased to report fourth quarter earnings that exceeded our guidance and represented a strong finish to 2016 with record full year revenue and adjusted EBITDA,” said Jonathan W. Painter, president and chief executive officer. “Although revenue was down from a record performance in last year’s fourth quarter, we had a 10 percent increase in revenue from parts and consumables, which represented 64 percent of fourth quarter revenue. This favorable revenue mix led to a 290 basis point increase in gross margin.
“One of the highlights of the quarter was our bookings which increased 20 percent sequentially and 50 percent year-on-year, representing the third best bookings quarter in our history. Importantly, our parts and consumables bookings were up 11 percent over the fourth quarter of last year and 6 percent sequentially, driven by a strong performance in North America. We also had strong capital bookings in China in the fourth quarter and see a fairly active market for capital projects in China in 2017.
“As was the case with the fourth quarter, we faced difficult comparisons with the full year 2015, which was an exceptionally strong year for Kadant. Within that context, we were pleased with our overall performance in 2016. We achieved record revenue of $414 million, despite over $8 million in negative foreign currency translation impact, and we maintained a strong gross margin of 45.5 percent. 2016 was also a very strong year for operating cash flows, which reached a near-record $51 million, up from $40 million in 2015.”
Fourth Quarter 2016 Financials
Revenue was $100.2 million, a 7 percent decline compared to the fourth quarter of 2015, inclusive of $12.0 million from an acquisition and a negative impact of $1.7 million from foreign currency translation. Revenue was $107.6 million in the fourth quarter of 2015. Gross margin was 46.0 percent. Net income was $7.7 million, or $0.69 per diluted share, compared to $10.4 million, or $0.94 per diluted share, in the fourth quarter of 2015. Adjusted EBITDA was $14.1 million, a decrease of 18 percent from $17.2 million in the fourth quarter of 2015. Operating income was $10.7 million versus $14.4 million in the fourth quarter of 2015. Cash flows from operations were $16.3 million, up 32 percent from $12.3 million in the comparable quarter of 2015. Bookings increased 50 percent to $113.6 million from $75.5 million in the comparable period of 2015, inclusive of the net effect of a $12.1 million increase from an acquisition, a $16.1 million booking reversal in the fourth quarter of 2015, and a negative impact of $2.3 million from foreign currency translation.
Fiscal Year 2016 Financials
Revenue increased 6 percent year-over-year to a record $414.1 million for fiscal 2016, inclusive of $40.8 million from an acquisition and a negative impact of $8.4 million from foreign currency translation. Full year 2015 revenue was $390.1 million. Gross margin was 45.5 percent. Net income was $32.1 million, or $2.88 per diluted share, compared to $34.4 million, or $3.10 per diluted share, in 2015. Adjusted diluted EPS was $3.10 for the full year 2016, compared to $3.13 in 2015. Adjusted EBITDA increased 1 percent to a record $61.9 million from $61.5 million in 2015. Operating income was $45.6 million in 2016, compared to $50.1 million in the prior year. Cash flows from operations increased 26 percent to $51.0 million compared to $40.4 million last year. Bookings were $403.5 million, up 7 percent, including the net effect of a $39.4 million increase from an acquisition, a $16.1 million booking reversal in 2015, and a $9.1 million decrease from foreign currency translation. In 2015, bookings were $376.1 million.
Summary and Outlook
“2016 was a year of solid execution for Kadant,” Mr. Painter continued. “We moved forward with several product developments and other initiatives designed to support our expectations of modest organic growth over the long term. In addition, we succeeded in completing an important acquisition that brings potential revenue synergies. We intend to supplement our internal growth with acquisitions, but remain disciplined in considering those opportunities that meet our criteria.
“Looking ahead, we expect 2017 to be a record year for both revenue and EPS. Based on our current visibility, we expect to report GAAP diluted EPS of $3.13 to $3.23 on revenue of $423 million to $433 million. The 2017 guidance includes an unfavorable foreign currency translation effect of $7 million on revenue and $0.10 on diluted EPS compared to 2016. For the first quarter of 2017, we expect GAAP diluted EPS of $0.62 to $0.66 on revenue of $97 million to $100 million.”
Conference Call
Kadant will hold a webcast with a slide presentation for investors on Thursday, February 23, 2017, at 4:30 p.m. eastern time to discuss its fourth quarter and fiscal year performance, as well as future expectations. To access the webcast, including the slideshow and accompanying audio, go to www.kadant.com and click on “Investors.” To listen to the webcast via teleconference, call 888-326-8410 within the U.S., or +1-704-385-4884 outside the U.S. and reference participant passcode 39878251. Prior to the call, our earnings release and the slides used in the webcast presentation will be filed with the Securities and Exchange Commission and will be available at www.sec.gov. A replay of the webcast will be available on our website through March 24, 2017.
Shortly after the webcast, Kadant will post its updated general investor presentation incorporating the fourth quarter and fiscal year results on our website at www.kadant.com under the “Investors” section.
Use of Non-GAAP Financial Measures
In addition to the financial measures prepared in accordance with generally accepted accounting principles (GAAP), we use certain non-GAAP financial measures, including increases or decreases in revenue excluding the effect of acquisitions and foreign currency translation, adjusted operating income, adjusted net income, adjusted diluted EPS, adjusted earnings before interest, taxes, depreciation, and amortization (adjusted EBITDA), adjusted EBITDA margin, and free cash flow.
We believe that these non-GAAP financial measures, when taken together with the corresponding GAAP financial measures, provide meaningful supplemental information regarding our performance by excluding certain items that may not be indicative of our core business, operating results, or future outlook. We believe that the inclusion of such measures helps investors to gain an understanding of our underlying operating performance and future prospects, consistent with how management measures and forecasts our performance, especially when comparing such results to previous periods or forecasts and to the performance of our competitors. Such measures are also used by us in our financial and operating decision-making and for compensation purposes. We also believe this information is responsive to investors' requests and gives them an additional measure of our performance.
The non-GAAP financial measures included in this press release are not meant to be considered superior to or a substitute for the results of operations prepared in accordance with GAAP. In addition, the non-GAAP financial measures included in this press release have limitations associated with their use as compared to the most directly comparable GAAP measures, in that they may be different from, and therefore not comparable to, similar measures used by other companies.
Revenue included $12.0 million and $40.8 million from an acquisition in the fourth quarter and fiscal year 2016, respectively. Revenue also included $1.7 million and $8.4 million unfavorable foreign currency translation effects in the fourth quarter and fiscal year 2016, respectively. We present increases or decreases in revenue excluding the effect of acquisitions and foreign currency translation to provide investors insight into underlying revenue trends.
Adjusted operating income, adjusted EBITDA, adjusted EBITDA margin, adjusted net income, and adjusted diluted EPS exclude acquisition costs, restructuring costs, other income, and expense related to acquired profit in inventory and backlog. These items are excluded as they are not indicative of our core operating results and are not comparable to other periods, which have differing levels of incremental costs or income or none at all.
Adjusted operating income, adjusted EBITDA, and adjusted EBITDA margin exclude:
Pre-tax gain on the sale of assets of $0.3 million in 2016 and pre-tax restructuring costs of $0.5 million in 2015.
Pre-tax acquisition costs of $1.8 million in 2016.
Pre-tax expense related to acquired profit in inventory and backlog of $1.9 million in 2016 and $0.2 million in 2015.
Adjusted net income and adjusted diluted EPS exclude:
After-tax gain on the sale of assets of $0.2 million ($0.3 million net of tax of $0.1 million) in 2016 and after-tax restructuring costs of $0.4 million ($0.5 million net of tax of $0.1 million) in 2015.
After-tax acquisition costs of $1.6 million ($1.8 million net of tax of $0.2 million) in 2016.
After-tax expense related to acquired profit in inventory and backlog of $1.4 million ($1.9 million net of tax of $0.5 million) in 2016 and $0.1 million ($0.2 million net of tax of $0.1 million) in 2015.
A benefit from discrete tax items of $0.3 million in 2016. The benefit from discrete tax items was primarily due to the reversal of valuation allowances on certain deferred tax assets in the U.S.
We also report free cash flows, which is calculated as cash flows from continuing operations less capital expenditures of $5.8 million in 2016 and $5.5 million in 2015. This measure provides a view of the continuing operations’ ability to generate cash for use in acquisitions and other investing and financing activities.
Reconciliations of the non-GAAP financial measures to the most directly comparable GAAP financial measures are set forth in this Kandant press release.
Financial Highlights (unaudited)(In 1000's, except per share amounts and percentages) [See hyperlink to the 2/23/17 BusinessWire article provided above]
AISI304
8 years ago
Kadant Expands PAAL Business into North America 1/26/17
http://investor.kadant.com/phoenix.zhtml?c=89087&p=irol-newsArticle&ID=2240057
Awarded First US Order for Channel Baler
Appoints Distributor for Material Recycling Market in U.S. and Canada
WESTFORD, Mass.--(BUSINESS WIRE)--Jan. 26, 2017-- Kadant Inc. (NYSE:KAI) announced today it has appointed Bulk Handling Systems (BHS) as the exclusive distributor of its high-performance balers to material recycling facilities in the U.S. and Canada. Through BHS, Kadant has been awarded its first U.S. order for a channel baler to be installed at the regional waste recovery facility in Monterey, California.
The appointment of BHS represents another important step in Kadant’s strategy to drive revenue synergies following its April 2016 acquisition of PAAL GROUP, the leading European manufacturer of horizontal balers used to process both recyclable materials, including paper and plastics, and non-recyclable materials such as treated household/commercial waste and agricultural products.
“We are pleased to be entering this segment of the North American recycling market with BHS, a leader in the design and manufacture of large scale sorting systems. Our high quality, German-engineered balers are uniquely aligned with BHS’ commitment to performance and quality. We are honored that Kadant’s first U.S. baler will be part of the advanced materials recovery facility BHS is constructing in Monterey, California. This facility will be operated by the Monterey Regional Waste Management District, an award-winning 65-year-old operation recognized as one of the best solid waste systems in North America,” said Jonathan Painter, president and chief executive officer of Kadant Inc.
“We believe Kadant’s channel baler offers our customers a combination of cutting-edge technology and performance that is uniquely well suited to the needs of sophisticated, large-scale recycling facilities. We look forward to partnering on future projects that require efficient, high-quality equipment,” noted Steve Miller, chief executive officer of BHS.
Kadant will debut its balers in the U.S. market at the Waste Expo 2017, which takes place in New Orleans May 9-11.
About Kadant
Kadant Inc. (NYSE:KAI) is a global supplier of high-value, critical components and engineered systems used in process industries worldwide. The Company’s products, technologies, and services play an integral role in enhancing process efficiency, optimizing energy utilization, and maximizing productivity in resource-intensive industries. Kadant is based in Westford, Massachusetts, with 2,000 employees in 18 countries worldwide. For more information, visit www.kadant.com.
About Bulk Handling Systems (BHS)
Headquartered in Eugene, Oregon, BHS is a worldwide leader in the innovative design, engineering, manufacturing, and installation of sorting systems and components for the solid waste, recycling, waste-to-energy, and construction and demolition industries. Wholly-owned subsidiaries include Nihot, NRT, and Zero Waste Energy. For more information, visit www.bulkhandlingsystems.com.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170126005668/en/
Source: Kadant Inc.
Kadant Inc.
Investor Contact Information:
Michael McKenney, 978-776-2000
mike.mckenney@kadant.com
or
Media Contact Information:
Wes Martz, 269-278-1715
wes.martz@kadant.com
AISI304
8 years ago
Kadant (NYSE:KAI) Hosted its First Investor Day 12/1/16
http://www.businesswire.com/news/home/20161128006086/en/
WESTFORD, Mass.--(BUSINESS WIRE)--Nov. 28, 2016-- Kadant Inc. (NYSE:KAI) announced its first Investor Day will take place on Thursday, December 1, 2016 in New York City. The Investor Day will feature presentations by members of Kadant’s Executive Leadership Team, who will discuss the Company’s business outlook, growth opportunities, and five-year financial goals.
A live webcast of the presentations will begin at 2:30 p.m. eastern time on the day of the event. To access the webcast, including the slideshow and accompanying audio, go to www.kadant.com and click on “Investors”. An archive of the webcast will be available on the Company’s website through December 1, 2017.
Kadant Inc. is a global supplier of high-value, critical components and engineered systems used in process industries worldwide. The Company’s products, technologies, and services play an integral role in enhancing process efficiency, optimizing energy utilization, and maximizing productivity in resource-intensive industries. Kadant is based in Westford, Massachusetts, with revenue of $390 million in fiscal year 2015 and 2,000 employees in 18 countries worldwide. For more information, visit www.kadant.com.
View source version on businesswire.com: http://www.businesswire.com/news/home/20161128006086/en/
Source: Kadant Inc.
Kadant Inc.
Investor Contact Information:
Michael McKenney, 978-776-2000
mike.mckenney@kadant.com
or
Media Contact Information:
Wes Martz, 269-278-1715
wes.martz@kadant.com
AISI304
8 years ago
Kadant approves $0.19/sh dividend to SOR COB 1/12/17
http://www.businesswire.com/news/home/20161116006625/en/
Kadant Declares Cash Dividend
WESTFORD, Mass.--(BUSINESS WIRE)--Nov. 16, 2016-- Kadant Inc. (NYSE:KAI) announced that its board of directors has approved a quarterly cash dividend to stockholders of $0.19 per share to be paid on February 9, 2017 to stockholders of record as of the close of business on January 12, 2017. Future declarations of dividends are subject to Board approval and may be adjusted as business needs or market conditions change.
Kadant Inc. is a global supplier of high-value, critical components and engineered systems used in process industries worldwide. The Company’s products, technologies, and services play an integral role in enhancing process efficiency, optimizing energy utilization, and maximizing productivity in resource-intensive industries. Kadant is based in Westford, Massachusetts, with revenue of $390 million in fiscal year 2015 and 2,000 employees in 18 countries worldwide. For more information, visit www.kadant.com.
The following constitutes a “Safe Harbor” statement under the Private Securities Litigation Reform Act of 1995: This press release contains forward-looking statements that involve a number of risks and uncertainties, including forward-looking statements about our business, financial performance and cash dividend program. Our actual results may differ materially from these forward-looking statements as a result of various important factors, including those set forth under the heading "Risk Factors" in Kadant’s annual report on Form 10-K for the year ended January 2, 2016 and subsequent filings with the Securities and Exchange Commission. These include risks and uncertainties relating to adverse changes in global and local economic conditions; the variability and difficulty in accurately predicting revenue from large capital equipment and systems projects; the variability and uncertainties in sales of capital equipment in China; currency fluctuations; our customers’ ability to obtain financing for capital equipment projects; changes in government regulations and policies; the oriented strand board market and levels of residential construction activity; development and use of digital media; price increases or shortages of raw materials; dependence on certain suppliers; international sales and operations; economic conditions and regulatory changes caused by the United Kingdom’s likely exit from the European Union; disruption in production; our acquisition strategy; our internal growth strategy; competition; soundness of suppliers and customers; our effective tax rate; future restructurings; soundness of financial institutions; our debt obligations; restrictions in our credit agreement; loss of key personnel; reliance on third-party research; protection of patents and proprietary rights; failure of our information systems or breaches of data security; fluctuations in our share price; and anti-takeover provisions. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise.
View source version on businesswire.com: http://www.businesswire.com/news/home/20161116006625/en/
Source: Kadant Inc.
Kadant Inc.
Investor Contact Information:
Michael McKenney, 978-776-2000
mike.mckenney@kadant.com
or
Media Contact Information:
Wes Martz, 269-278-1715
wes.martz@kadant.com
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