Industrial tool manufacturer Kennametal Inc. (NYSE: KMT), Latrobe, Pennsylvania, reported sales for fiscal 2019 of $2.4 billion, a 0.3% increase over fiscal 2018. The company posted a profit of $241.9 million for the year, up 20.8% over a year ago.
Fourth-quarter sales decreased 6.5% year-over-year to $603.9 million. The company posted a profit of $62 million, compared to $68.5 million a year ago.
Fourth-quarter industrial segment sales of $318 million decreased 9% from the prior year quarter.
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Fourth quarter sales were up 2% year-over-year.
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Profit was $34.4 million compared to $42 million in 2019.
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For the fourth quarter, sales were $84.2 million, a 19% increase year-over-year.
