May 7, 2018 / 9:06 PM / 6 months ago

BRIEF-Albany International Reports Q1 Earnings Per Share $0.32

May 7 (Reuters) - Albany International Corp:

* ALBANY INTERNATIONAL REPORTS FIRST-QUARTER RESULTS

* Q1 EARNINGS PER SHARE $0.32

* Q1 EARNINGS PER SHARE VIEW $0.51 — THOMSON REUTERS I/B/E/S

* Q1 SALES ROSE 15.4 PERCENT TO $230 MILLION

* Q1 ADJUSTED NON-GAAP EARNINGS PER SHARE $0.54 EXCLUDING ITEMS

* SEES FY 2020 SALES $475 MILLION TO $550 MILLION

* CURRENTLY EXPECT CAPITAL EXPENDITURES TO RANGE FROM $20 MILLION TO $25 MILLION PER QUARTER THROUGH REST OF YEAR

* EXPECT ADDITIONAL QUARTERLY INCREASES IN NET DEBT FOR REMAINDER OF YEAR, BUT AT SIGNIFICANTLY LOWER LEVELS THAN DURING Q1

* AEC’S OUTLOOK FOR FULL YEAR 2018 IS UNCHANGED FROM EXPECTATIONS STATED IN LAST EARNINGS RELEASE

* BEYOND 2018, REMAIN ON TRACK TOWARD GOAL OF 18% TO 20% ADJUSTED EBITDA AS A PERCENTAGE OF SALES IN 2020

* OUTLOOK FOR MC & AEC IN 2018 IS UNCHANGED Source text for Eikon: Further company coverage:

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