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Kennametal Inc. (NYSE: KMT), Latrobe, PA, reported sales for the fiscal third quarter of $497.8 million, a 22 percent decrease year-over-year, with an 8 percent organic decline. Profit for the quarter was $16 million, compared to a loss of $46.2 million in the prior year quarter.
Industrial segment sales of $316 million decreased 11 percent from the prior year quarter while infrastructure segment sales decreased 36 percent to $284 million.
Year-to-date, Kennametal reported sales of $1.6 billion, down 22 percent from the same period a year ago, with a 12 percent organic decline. The company reported a loss of $159.5 million, compared to a loss of $395 million in the first nine months of fiscal 2015.