The 2020 Mid-Year Economic Update_long

Kennametal Sales Up 9.6% in Fiscal 2014

Fourth-quarter sales up 15.1 percent year-over-year.

Industrial tool manufacturer Kennametal Inc. (NYSE: KMT), Latrobe, PA, reported sales for the fiscal year 2014 of $2.8 billion, a 9.6 percent increase over fiscal 2013. Profit decreased 22.2 percent to $158.4 million.

Fourth-quarter sales increased 15.1 percent year-over-year to $772.2 million. Profit decreased 25.3 percent to $45.5 million.The 15.1 percent increase in sales reflected an 11 percent increase from the TMB acquisition and 5 percent from organic growth, partially offset by a 1 percent decrease from fewer business days.

"During the June quarter, we saw accelerating growth and ongoing strength in our served industrial markets; however, certain sectors are still challenging," said Carlos Cardoso, president and CEO.

Fourth-quarter industrial segment sales increased 14.6 percent year-over-year to $415.5 million. Infrastructure segment sales increased 15.5 percent to $356.7 million.

About the Author
Leave a Reply

Leave a Comment

Sign Up for the MDM Update Newsletter

The MDM update newsletter is your best source for news and trends in the wholesale distribution industry.

By subscribing, you are agreeing to MDM’s Privacy Policy.

0

articles left

This is your last free article

Subscribe to MDM Premium today and get:

  • Unlimited access to MDM.com
  • 1 year digital subscription, with new issues twice a month
  • Trends analysis, market data and quarterly economic updates
  • Deals on select store products and events

2

articles left

Want more Premium content from MDM?

Subscribe today and get:

  • New issues twice each month
  • Unlimited access to mdm.com, including 10+ years of archived data
  • Current trends analysis, market data and economic updates
  • Discounts on select store products and events

1

article
left

You have one free article remaining

Subscribe to MDM Premium to get unlimited access. Your subscription includes:

  • Two new issues a month
  • Access to 10+ years of archived data on mdm.com
  • Quarterly economic updates, trends analysis and market data
  • Store and event discounts

To continue reading, you must be an MDM Premium subscriber.