Last week, Technology Park East’s Kadant posted a third quarter profit of $6.6 million.
Kadant (NYSE: KAI), a leading supplier to the global pulp and paper industry, announced that it had earned a net income of 60 cents per share over the third quarter, which adjusted for restructuring and discontinued operations came to 63 cents per share.
Total revenue was $98.7 million over this period.
Kadant indicated that fourth quarter revenue projections will be within the range of $104-106 million. Those figures will be announced in late December.
The news sent Kadant’s stocks climbed from just over $38 to $42.73 a share over the week of the announcement, stabilizing around $41on Sunday, Nov. 9