Kadant: Q3 Earnings Snapshot

WESTFORD, Mass. (AP) — WESTFORD, Mass. (AP) — Kadant Inc. (KAI) on Tuesday reported third-quarter net income of $31.6 million.

The Westford, Massachusetts-based company said it had profit of $2.68 per share. Earnings, adjusted for amortization costs and costs related to mergers and acquisitions, were $2.84 per share.

The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $2.43 per share.

The equipment supplier for the papermaking and paper recycling industries posted revenue of $271.6 million in the period, also topping Street forecasts. Three analysts surveyed by Zacks expected $265.9 million.