Kennametal Sales Decrease 7% in 2Q

Year-to-date, sales were down 10.6 percent year-over-year.

Kennametal Inc. (NYSE: KMT), Latrobe, PA, reported sales for the second quarter ended Dec. 31 of $487.5 million, a decrease of 7 percent from the previous year. Profit was $7.3 million, up from a loss of $169.2 million the same quarter a year ago.

Industrial segment sales of $267 million was flat compared to the prior year quarter. Infrastructure segment sales of $177 million decreased 17 percent from the prior year.

Year-to-date, Kennametal reported sales of $964.7 million, down 10.6 percent from the same period a year ago. The company reported a loss of $14.4 million, up from a loss of $175.5 million the first six months of fiscal 2015.

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