For 2012, Kennametal reported earnings per diluted share (EPS) of US$3.77 on US$2.7 billion in sales, compared with EPS of US$2.76 earned on US$2.4 billion in sales during the prior year. Sales were US$739 million, compared with US$694 million in the same quarter last year. Operating income was US$117 million compared with US$115 million in the same quarter last year.
"Fiscal 2012 was an excellent year for Kennametal," said Carlos Cardoso, chairman, president and CEO. "We outperformed our markets, set new records, and delivered 15% earnings before interest and taxes (EBIT) margin and 15% return on invested capital (ROIC), a full year ahead of schedule. This performance marks our second straight year of record profitability and returns."
The company's outlook for 2013 assumes that the global economy and worldwide industrial production will continue to reflect positive growth, with some moderation in industrial activity and short-term slowing related to natural gas drilling and underground coal mining in North America. Kennametal expects fiscal 2013 organic sales growth to range from 5 to 7%, and total sales to grow between 7 and 10%.