Kennametal Announces Second Quarter 2013 Results
- Reported EPS of $0.52; Stellite accretive $0.02 per share
- Delivered double digit operating margin
- Strengthened financial position and liquidity with $400 million bond issuance
- Revised guidance for slower-than-expected recovery
LATROBE, Pa., (January 24, 2013) – Kennametal Inc. (NYSE: KMT) today reported fiscal 2013 second-quarter results, with earnings per diluted share (EPS) of $0.52 compared with the prior-year quarter EPS of $0.91.
“We again sustained strong performance, in both profitability and return on invested capital, despite generally lackluster activity in the global industrial markets,” said Kennametal Chairman, President and Chief Executive Officer Carlos Cardoso. “While recovery is progressing more slowly than expected, we have kept our organization agile and ready for the resumption of growth. Our Stellite acquisition is contributing to earnings and opening us to new growth opportunities in the energy and power generation industries. In addition, Kennametal remains committed to maximizing our results and maintaining our strong balance sheet to deliver increased shareholder value.”