Wednesday, July 25, 2007

UPDATE 2-Kennametal posts stronger-than-expected profit

(Reuters) - The company expects "moderation" in the North American
market will persist in the near term, while demand remains
favorable in Europe and robust in developing economies like
China and India.




Net income fell 62 percent to $62.1 million, or $1.57 a
share, in the fiscal fourth quarter from $164.2 million, or
$4.11 a share, a year earlier. However, results were 7 cents
better than analysts polled by Reuters Estimates had expected.


Read more at Reuters.com Market News

No comments: