WESTFORD, Mass. (AP) — WESTFORD, Mass. (AP) — Kadant Inc. (KAI) on Wednesday reported fourth-quarter profit of $27.4 million.

On a per-share basis, the Westford, Massachusetts-based company said it had profit of $2.33. Earnings, adjusted for non-recurring costs, were $2.41 per share.

The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $2.10 per share.

The equipment supplier for the papermaking and paper recycling industries posted revenue of $238.7 million in the period, also surpassing Street forecasts. Three analysts surveyed by Zacks expected $227.5 million.

For the year, the company reported profit of $116.1 million, or $9.90 per share. Revenue was reported as $957.7 million.

For the current quarter ending in March, Kadant expects its per-share earnings to range from $1.90 to $2.

The company said it expects revenue in the range of $238 million to $246 million for the fiscal first quarter.

Kadant expects full-year earnings in the range of $9.75 to $10.05 per share, with revenue ranging from $1.04 billion to $1.07 billion.


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