MSA today reported second-quarter profit that were below year-ago levels, when asset sales increased the Cranberry safety-product maker's bottom line.
The company said profit totaled $24 million, or 64 cents per share, versus profit of $28 million, or 75 cents per share, in the year-ago quarter.
Sales rose 2 percent to $299.7 million.
The results reflect $2.4 million in restructuring charges, $2 million in foreign currency charges and the absence of sales from MSA's North American ballistic helmet business, sold in the second quarter last year.
Divestitures in the year-ago quarter boosted profit for that period by $5 million, the company said.
Excluding the foreign currency and restructuring charges, per-share income was 71 cents per share, ahead of the 65 cents analysts surveyed by Bloomberg were expecting.
Sales were in line with analyst forecasts.
The results were disclosed before Wall Street opened. Shortly after 10 a.m., MSA shares were priced at $52.99, up $1.38. They are up 24 percent this year.
Len Boselovic: firstname.lastname@example.org or 412-263-1941.