PITTSBURGH (AP) _ Kennametal Inc. (KMT) on Monday reported a fiscal fourth-quarter loss of $9.1 million, after reporting a profit in the same period a year earlier.
The Pittsburgh-based company said it had a loss of 11 cents per share. Earnings, adjusted for one-time gains and costs, came to 15 cents per share.
The results topped Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 12 cents per share.
The engineered products maker posted revenue of $379.1 million in the period, missing Street forecasts. Five analysts surveyed by Zacks expected $392.7 million.
For the year, the company reported a loss of $5.7 million, or 7 cents per share, swinging to a loss in the period. Revenue was reported as $1.89 billion.
Kennametal shares have decreased 23% since the beginning of the year. In the final minutes of trading on Monday, shares hit $28.45, a decrease of 14% in the last 12 months.