Forbes Names Kadant One of ''America's Best Small Companies''
WESTFORD, Mass., Oct 15, 2007 (BUSINESS WIRE) -- Kadant Inc. (NYSE:KAI) was named one of America's 200 Best Small Companies by Forbes Magazine in its annual list of top performing companies. To qualify as a candidate for the best companies list, a company must have revenues of $5 million to $750 million and a share price above $5 as of October 1, 2007. The criteria used to evaluate the candidates included return on equity and sustained sales and net profit growth over 12-month and five-year periods, among other measures.
"We are excited to be named by Forbes as one of America's best small companies, and are proud to be recognized for our strong EPS and sales growth during the past 12 months," said William A. Rainville, chairman and chief executive officer of Kadant. "Our solid performance during the past year is a tribute to our dedicated employees and their continuous drive to deliver value to our shareholders and customers."
Kadant Inc. is a leading supplier to the global pulp and paper industry, with a range of products and services for improving efficiency and quality in pulp and paper production, including paper machine accessories and systems for stock preparation, fluid handling, and water management. Our fluid-handling products are also used to optimize production in the steel, rubber, plastics, food, and textile industries. In addition, we produce granules from papermaking byproducts for agricultural and lawn and garden applications. Kadant is based in Westford, Massachusetts, with revenues of $342 million in 2006 and 2,000 employees in 16 countries worldwide. For more information, visit www.kadant.com.
The following constitutes a "Safe Harbor" statement under the Private Securities Litigation Reform Act of 1995: This press release contains forward-looking statements that involve our financial performance. Important factors that could cause actual results to differ materially from those indicated by such statements are set forth under the heading "Risk Factors" in Kadant's quarterly report on Form 10-Q for the period ended June 30, 2007. These include risks and uncertainties relating to our dependence on the pulp and paper industry; significance of sales and operation of manufacturing facilities in China; international sales and operations; competition; our debt obligations; restrictions in our credit agreement; our discontinued operation; our acquisition strategy; future restructurings; factors influencing our fiber-based products; protection of patents and proprietary rights; fluctuations in quarterly operating results; and anti-takeover provisions. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise.
SOURCE: Kadant Inc.
Investor contact:
Kadant Inc.
Thomas M. O'Brien, 978-776-2000