By Liz Nickels
Sales were US$755 million, compared with US$655 million in the same quarter last year, and operating income was US$77 million, compared with US$75 million in Q3 2013. The industrial segment operating income was US$51 million for both the current and prior year periods.
"We delivered solid results in the March quarter," said Kennametal chairman, president and CEO Carlos Cardoso. "We continued to experience growth in industrial markets such as general engineering and transportation. [...] The integration of our tungsten materials business is on-track to deliver key objectives. The related restructuring actions are expected to result in productivity improvements as well as significant cost savings."
The company now expects fiscal 2014 total sales growth in the range of 10 to 11%.
Last year's Q3 results can be found here.