Kennametal Reports 6% 1Q Organic Growth
Kennametal, Latrobe, PA, reported first quarter 2007 sales of $543 million. This represents 6% organic sales growth offset by the net impact of acquisitions and divestitures, primarily the sale of J& L Industrial Supply. J& L outside sales were $65 million in the September quarter last year.
Profit for the first quarter was $30.3 million, up from $28 million in the same period a year ago.
Metalworking Solutions & Services Group (MSSG) continued to deliver growth led by year-over-year expansion in the aerospace, distribution and energy markets. The North American market remained stable; Europe has begun to show a modest recovery and Asia Pacific and India delivered strong ...