WESTFORD, Mass., June 23, 2019 – Shares of Kadant Inc. (NYSE: KAI) gained 0.14% to $91.06. The stock grabbed the investor’s attention and traded 272.766K shares as compared to its average daily volume of 72.87K shares. The stock’s institutional ownership stands at 95.10%.

Kadant Inc. (KAI) reported first-quarter profit of $10.90M.

First Quarter 2019 Results:

Revenue increased 15 percent to $171.30M contrast to the first quarter of 2018, counting $20.60M from an acquisition and a $7.00M decrease from the unfavorable effect of foreign currency translation. Excluding the impact of an acquisition and foreign currency translation, revenue increased six percent contrast to the first quarter of 2018. Gross margin was 41.2 percent, counting a 1.3 percent negative impact from the amortization of attained profit in inventory. Net income was $10.90M, or $0.96 per diluted share, in both the first quarters of 2019 and 2018. Adjusted diluted EPS increased 16 percent to $1.24 contrast to $1.07 in the first quarter of 2018. Adjusted diluted EPS in the first quarter of 2019 excludes $0.22 of amortization from attained profit in inventory and backlog and $0.06 of acquisition costs. Adjusted diluted EPS in the first quarter of 2018 excludes $0.05 of restructuring costs, $0.04 of discrete tax expense, and $0.02 of amortization from attained backlog.

Adjusted EBITDA increased 27 percent to $30.00M contrast to $23.50M in the first quarter of 2018. Adjusted EBITDA excludes $3.30M of amortization from attained profit in inventory and backlog and $0.80M of acquisition costs in the first quarter of 2019 and $0.80M of restructuring costs and $0.30M of amortization from attained backlog in the first quarter of 2018. Cash flows from operations increased 37 percent to $9.90M contrast to $7.20M in the first quarter of 2018. Bookings increased to a record $183.60M contrast to $181.90M in the first quarter of 2018, counting $24.50M from an acquisition and a $7.70M decrease from the unfavorable effect of foreign currency translation. Excluding the impact of an acquisition and foreign currency translation, bookings reduced eight percent contrast to the first quarter of 2018.

KAI has a market value of $1.02B while its EPS was booked as $5.22 in the last 12 months. The stock has 11.16M shares outstanding. In the profitability analysis, the company has gross profit margin of 43.10% while net profit margin was 9.20%. Beta value of the company was 1.23; beta is used to measure riskiness of the security. Analyst recommendation for this stock stands at 1.50.