Industrial tool manufacturer Kennametal Inc. (NYSE: KMT), Latrobe, PA, reported sales for fiscal 2018 of $2.4 billion, a 15 percent increase over fiscal 2017, with organic sales up 12 percent.
The company posted a profit of $205.1 million for the year, compared to $52 million a year ago.
Fourth-quarter sales increased 14 percent year-over-year to $646 million, with organic sales up 10 percent. The company posted a profit of $70.2 million, compared to $25.6 million a year ago.
Fourth-quarter industrial segment sales of $349.2 million increased 16 percent from the prior year quarter due to organic sales growth of 11 percent.
