Industrial tool manufacturer Kennametal Inc. (NYSE: KMT), Latrobe, PA, reported sales for fiscal 2016 of $2.1 billion, a 21 percent decrease over fiscal 2015, with organic sales down 11 percent.

The company posted a loss of $226 million for the year, compared to a loss of $373.9 million a year ago.

Fourth-quarter sales decreased 18 percent year-over-year to $521 million, with organic sales down 9 percent. The company posted a loss of $66.5 million, compared to a profit of $21.1 million a year ago.

Fourth-quarter industrial segment sales of $329 million decreased 8 percent from the prior-year quarter due to organic sales decline of 8 percent and unfavorable currency exchange of 1 percent.