Kaydon Corp 3Q Profit Surges on Gain

Resource from: CBCC Likes:2929

Nov 01,2005

ANN ARBOR, Mich. (AP) - Kaydon Corp., a maker of bearings, velocity control and sealing products used by the aerospace and defense industries, on Monday reported its third-quarter profit surged more than threefold, driven by a large gain from the sale of its power and data transmission products business. Kaydon reported net income of $37.2 million, or $1.12 per share, versus a prior-year profit of $9.5 million ,or 32 cents per share. Revenue rose 18 percent to $85.9 million from $73 million. The quarter's results include a pretax gain of $41 million from the sale of Kaydon's power and data transmission products group in July, which bolstered earnings by 73 cents per share. Stripping out the asset sale gain, Kaydon reported income from continuing operations of $11.6 million, or 38 cents per share. Wall Street forecast earnings of 39 cents per share, the average view of seven analysts surveyed by Thomson Financial, on sales of $93.5 million. Backlog rose 41 percent to $127.2 million over the year-ago period's backlog of continuing operations of $90 million. Kaydon said it expects favorable order and backlog trends in the third quarter to continue into the fourth quarter.

()

【CBCC News Statement】
1.The news above mentioned with detailed source are from internet.We are trying our best to assure they are accurate ,timely and safe so as to let bearing users and sellers read more related info.However, it doesn't mean we agree with any point of view referred in above contents and we are not responsible for the authenticity. If you want to publish the news,please note the source and you will be legally responsible for the news published.
2.All news edited and translated by us are specially noted the source"CBCC".
3.For investors,please be cautious for all news.We don't bear any damage brought by late and inaccurate news.
4.If the news we published involves copyright of yours,just let us know.

Add to My Favorites

[Close the window]

Previous M-Real signs for bearing support
Next RBC Bearings Incorporated to Webcast Fiscal 2006 Second Quarter Earnings

BRIEF INTRODUCTION

Cnbearing is the No.1 bearing inquiry system and information service in China, dedicated to helping all bearing users and sellers throughout the world.

Cnbearing is supported by China National Bearing Industry Association, whose operation online is charged by China Bearing Unisun Tech. Co., Ltd.

China Bearing Unisun Tech. Co., Ltd owns all the rights. Since 2000, over 3,000 companies have been registered and enjoyed the company' s complete skillful service, which ranking many aspects in bearing industry at home and abroad with the most authority practical devices in China.