Manufacturer Kennametal Inc. (NYSE: KMT), Latrobe, PA, reported fiscal 2011 fourth-quarter sales for $694 million, an increase of 29 percent from the prior-year period. Organic sales growth was 24 percent. Profit was $86.6 million.

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Industrial segment sales of $437 million grew 31 percent from the prior-year period, driven by organic growth of 25 percent and a 7 percent favorable foreign currency impact, partially offset by an unfavorable impact due to fewer business days. On an organic basis, sales increased in all market sectors led by strong growth in general engineering and transportation sales of 33 percent and 19 percent, respectively.

Sales to the aerospace and defense market sector grew 8 percent compared with the prior-year quarter. On a regional basis, sales increased by 32 percent in Asia, 24 percent in Europe and 20 percent in the Americas.

Industrial segment operating income was $77 million. The primary drivers of the increase in operating income were higher sales volume and price realization, improved capacity utilization and incremental restructuring benefits. These benefits were partially offset by higher raw material costs.

Infrastructure segment sales of $257 million increased 26 percent due to organic growth of 22 percent and a 4 percent favorable foreign currency impact. The organic increase was driven by higher sales in the earthworks and energy markets of 24 percent and 20 percent, respectively. On a regional basis, organic sales increased by 29 percent in Asia, 23 percent in the Americas and 13 percent in Europe.

Infrastructure segment operating income was $38 million.

For the fiscal year 2011, sales were $2.4 billion, up 28 percent on an organic basis. Profit was $229.7 million.