Kennametal Sales Grow 40% in 4Q Fiscal 2010 - Modern Distribution Management

Log In

Kennametal Sales Grow 40% in 4Q Fiscal 2010

For the fiscal year, Kennametal's sales declined 8 percent.
kennametal-logo
Author
Date

Kennametal Inc. (NYSE: KMT), Latrobe, PA, reported fiscal 2010 fourth quarter sales of $539 million, up from $386 million in the same quarter last year. Sales were up 40 percent due to organic growth of 39 percent, and a 1 percent favorable impact from foreign currency effects.

We Deliver Distribution News to Your Inbox
Sign up below to receive MDM Update, your free weekly distribution news update by email.

\"\"

Profit was $40.9 million for the fourth quarter.

Metalworking Solutions & Services Group (MSSG) sales increased by 44 percent from the prior-year quarter, driven by organic growth of 43 percent.

On an organic basis, sales in Latin America, Asia Pacific and India increased 66 percent, 65 percent and 64 percent, respectively. North America and Europe reported organic sales increases of 42 percent and 34 percent, respectively, compared with the prior-year quarter.

Sequentially, sales increased by 8 percent as global industrial production continued to improve. MSSG operating income was $45 million compared with an operating loss of $29 million for the same quarter of the prior year.

Advanced Materials Solutions Group (AMSG) sales increased 34 percent from the prior-year quarter, driven by 33 percent organic growth and 1 percent favorable foreign currency effects. The organic increase was primarily driven by higher sales of mining and construction products, as well as increased demand for energy related and engineered products. Sequentially, sales increased by 11 percent, driven by better performance in all AMSG end markets.

AMSG operating income was $43 million, compared with $14 million in the same quarter of the prior year.

Sales were $1.9 billion in fiscal 2010 compared with $2 billion in the previous fiscal year. Sales decreased 8 percent on an organic basis, partially offset by a 1 percent favorable impact from foreign currency effects and a 1 percent increase from a business acquisition made in the prior fiscal year.

Profit was $46.4 million for the fiscal year.

Share this article

About the Author
Recommended Reading
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.

Get the MDM Update Newsletter

Wholesale distribution news and trends delivered right to your inbox.

Sign-up for our free newsletter and get:

  • Up-to-date news in a quick-to-read format
  • Free access to webcasts, podcasts and live events
  • Exclusive whitepapers, research and reports
  • And more!

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

Subscribe to continue reading

MDM Premium Subscribers 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

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.

Join other distribution executives who use MDM Premium to optimize their business. Our insights and analysis help you enter the right new markets, turbocharge your sales and marketing efforts, identify business partners that help you scale, and stay ahead of your competitors.

Register for full access

By providing your email, you agree to receive announcements from us and our partners for our newsletter, events, surveys, and partner resources per MDM Terms & Conditions. You can withdraw consent at any time.

Learn More about Custom Reports

Request a Market Prospector Demo

  • This field is for validation purposes and should be left unchanged.