Exhibit 99.1

Albany International Reports Fourth-Quarter Results

Fourth-Quarter Highlights

  • Net income per share was $0.66 in the fourth quarter of 2010, including reductions for restructuring charges of $0.02, a gain on the sale of a building of $0.14, foreign currency revaluation gains of $0.07, and favorable income tax adjustments of $0.09.
  • Net income per share was $0.12 in the fourth quarter of 2009, including reductions for restructuring charges of $0.03, a gain related to the extinguishment of debt of $0.09, foreign currency revaluation gains of $0.01, and unfavorable income tax adjustments of $0.24.
  • Q4 2010 net sales were $244.6 million, an increase of 5.7 percent compared to Q4 2009.
  • EBITDA was $46.7 million in the fourth quarter of 2010, including restructuring charges of $0.8 million, a gain on the sale of a building of $7.0 million, and foreign currency revaluation gains totaling $3.0 million.
  • EBITDA in Q4 2009 was $35.8 million, including restructuring charges of $1.2 million, a gain on extinguishment of debt of $4.6 million, and foreign currency revaluation gains totaling $0.3 million.

ROCHESTER, N.H.--(BUSINESS WIRE)--February 10, 2011--Albany International Corp. (NYSE:AIN) reported fourth-quarter 2010 net income of $20.5 million ($0.66 per share). Net income was reduced by U.S. GAAP restructuring charges of $0.8 million ($0.02 per share), and was increased by a gain on the sale of a building of $7.0 million ($0.14 per share) and favorable income tax adjustments of $2.7 million ($0.09 per share). Net income was also increased by foreign currency revaluation gains, principally resulting from the weaker euro, totaling $3.0 million ($0.07 per share).

For the fourth quarter of 2009, net income was $3.7 million ($0.12 per share) and included U.S. GAAP restructuring charges of $1.2 million ($0.03 per share), unfavorable income tax adjustments of $7.4 million ($0.24 per share), and a gain of $4.6 million ($0.09 per share) related to an extinguishment of debt. Net income was also increased by foreign currency revaluation gains totaling $0.3 million ($0.01 per share) (see non-GAAP disclosures below for earnings-per-share effects in Tables 6 and 7).


The following information was filed by Albany International Corp (AIN) on Friday, February 11, 2011 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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