Industrial tool manufacturer Kennametal Inc. (NYSE: KMT), Latrobe, PA, reported sales for fiscal 2017 of $2.1 billion, a 1.9 percent decrease over fiscal 2016, with organic sales up 4 percent.
The company posted a profit of $52 million for the year, compared to a loss of $223.9 million a year ago.
Fourth-quarter sales increased 8.4 percent year-over-year to $565 million, with organic sales down 12 percent. The company posted a profit of $25.6 million, compared to a loss of $66.1 million a year ago.
Fourth-quarter industrial segment sales of $300.3 million increased 5 percent from $286 million in the prior year quarter due to organic sales growth of 10 percent.