Albany International’s 2016 revenues rise

But net income falls slightly

February 17, 2017

Bob Sanders,

Albany International Corp.’s 2016 revenues were up compared to the previous year thanks to an acquisition, but its profits were slightly down because it didn’t get the big tax write-off it got in 2015.

The Rochester-based advanced textiles and materials processing company closed out 2016 with net income of $53 million, or $1.64 a share, a slight decline from $57 million the previous year.

On paper, profit in the last quarter – $16 million – was less than half of 2015, but back then the company got a $26 million tax benefit, whereas quarterly taxes this year were nearly $5 million.

Albany also suffered a $2.5 million charge partly related to a loss caused by a theft of cash from the company’s subsidiary in Japan. The earnings report offered no further details.

Net sales for the year totaled $780 million, an $80 million increase, thanks to strong quarterly sales of $213 million – a fifth more than a year ago. About $12 million of the quarterly sales increase was a result of the company’s $210 million acquisition in April of Harris Corp.’s Salt Lake City-based composite aero structures division. Harris has added $67 million in revenue in 2016.

Categories: News, Technology

More news from NHBR:

NHBR About Town: Week of April 10, 2026

Business and event happenings around the state of NH

The Latest: Week of April 10, 2026

The Latest is a roundup of the comings and goings of the movers and shakers in NH's business community

Ask the Experts: Planning is paramount for wills, trusts and estates

Planning for the future, particularly as a business owner, requires more than a simple will. Our panelist of professionals explore the fundamentals of estate planning, from choosing between wills and trusts to preparing for incapacity and business succession. Their insights highlight how thoughtful planning can protect assets, reduce legal complications, maximize financial benefits and ensure your wishes are carried out for both family and business interests.

NH WARN: what employers need to know about layoff notices

Workforce reductions are never easy. Whether driven by economic uncertainty, industry shifts or strategic restructuring, layoffs can be some of the most difficult decisions business leaders face. At the same time, workforce reductions carry legal obligations that are easy to overlook, particularly under state law. In New Hampshire, one of the most misunderstood of those obligations is the state’s WARN Act.

New administrator of YDC fund confirmed

Nearly nine months after a controversial change to the Youth Development Center abuse claims process pushed the administrator from his job and stalled the proceedings for survivors, the fund now has a new leader.

(Opinion) Opportunity Zones 2.0: Other states are getting ready, is New Hampshire?

With the permanent passage of the One Big Beautiful Bill Act this past summer, Opportunity Zones (OZ) are being reset, and with it, an opportunity for New Hampshire to shape what comes next. The question is whether we’re ready and whether municipalities, developers and state leaders are aligned to act.

(Opinion) Businesses are part of the village that stops child abuse and neglect

April is National Child Abuse Prevention Month. New Hampshire Children’s Trust (NHCT), in collaboration with our national partner, Prevent Child Abuse America (PCAA), uses this month as an opportunity to spread awareness about ways to stop child abuse and neglect before it happens.

(Opinion) Is supporting employee wellness worth the cost?

It is likely that individual health is one of the core drivers of our economy and productivity. Seeing the potential value of employers investing in wellness may even seem straightforward. Trickier however, might be finding affordable and appealing ways to do this amid the tight margins and self-reliant cultures of agriculture and natural resources sectors.

Outdoor recreation is economic infrastructure

New Hampshire has long acknowledged outdoor recreation as an asset. We speak of it in terms of quality of life, tourism appeal and regional character. That framing, while not inaccurate, is no longer sufficient.