Kadant Reports Q4 EPS of $0.41 vs. $0.28; Revenue $73.3M vs. $64.88M

Kadant Inc. KAI reported revenues from continuing operations of $73.3 million in the fourth quarter of 2010, an increase of $16.5 million, or 29 percent, compared with $56.8 million in the fourth quarter of 2009. Revenues for the fourth quarter of 2010 included a $1.1 million, or 2 percent, decrease from foreign currency translation. Operating income from continuing operations was $6.7 million in the fourth quarter of 2010, which included a $0.1 million restructuring charge. Operating loss from continuing operations was $0.3 million in the fourth quarter of 2009, which included a $2.1 million restructuring charge. Net income from continuing operations was $5.1 million in the fourth quarter of 2010, or $.41 per diluted share, compared to a net loss of $1.7 million, or $.14 per diluted share, in the fourth quarter of 2009. Net loss from continuing operations in the fourth quarter of 2009 included a $1.4 million charge related to discrete tax items and a $1.4 million after-tax restructuring charge.