Kennametal earnings, sales fall; improvement expected

Jul 26, 2013 | 09:36 AM | Daniel Fitzgerald

Tags  Kennametal, earnings report, tool and drill, tool manufacturer, drill manufacturer, industrial production, Daniel Fitzgerald

NEW YORK — Tool and drill manufacturer Kennametal Inc. has forecast an improvement in industrial production after seeing earnings and sales fall in its fiscal year.

The Latrobe, Pa.-based company posted net income of nearly $203.3 million for the 12 months ended June 30, down 33.8 percent from more than $307.2 million the previous year, on sales that fell 5.4 percent to $2.59 billion.....

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