0000891092-11-002777.txt : 20110429 0000891092-11-002777.hdr.sgml : 20110429 20110429152413 ACCESSION NUMBER: 0000891092-11-002777 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20110101 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20110429 DATE AS OF CHANGE: 20110429 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ALBANY INTERNATIONAL CORP /DE/ CENTRAL INDEX KEY: 0000819793 STANDARD INDUSTRIAL CLASSIFICATION: BROADWOVEN FABRIC MILS, MAN MADE FIBER & SILK [2221] IRS NUMBER: 140462060 STATE OF INCORPORATION: DE FISCAL YEAR END: 0218 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-10026 FILM NUMBER: 11794113 BUSINESS ADDRESS: STREET 1: 1373 BROADWAY CITY: ALBANY STATE: NY ZIP: 12204 BUSINESS PHONE: 5184452200 MAIL ADDRESS: STREET 1: 1373 BROADWAY CITY: ALBANY STATE: NY ZIP: 12204 FORMER COMPANY: FORMER CONFORMED NAME: ALBINT INC DATE OF NAME CHANGE: 19870924 8-K 1 e43340_8k.htm CURRENT REPORT

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 8-K

CURRENT REPORT
Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): January 1, 2011

ALBANY INTERNATIONAL CORP.
(Exact name of registrant as specified in its charter)
     
Delaware 1-10026 14-0462060
(State or other jurisdiction (Commission (I.R.S. Employer
of incorporation) File Number) Identification No.)

216 Airport Drive, Rochester, New Hampshire 03867
(Address of principal executive offices) (Zip Code)

Registrant’s telephone number, including area code (518) 445-2200

None
(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13a-4(c))


Item 2.02. Results of Operations and Financial Condition

Albany International Corp. (the “Company) operates its business in the following five segments: Paper Machine Clothing, Albany Door Systems, Engineered Fabrics, Engineered Composites, and PrimaLoft® Products. Effective January 1, 2011, the Company changed its business segment reporting by reclassifying its Fiber Preparation sales and expenses from its Engineered Fabrics segment to its Paper Machine Clothing segment. Additionally, the Company has modified previously reported segment operating income as detailed in Exhibit 99.1 to be consistent with the reclassification.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits.

99.1 Schedules showing the effect on net sales and operating income of changes in reportable segments for quarterly periods of 2010, full year 2010, and full year 2009.


Signature

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

  ALBANY INTERNATIONAL CORP.
   
  By: /s/ John B. Cozzolino
 
   
  Name: John B. Cozzolino
  Title: Chief Financial Officer and Treasurer
  (Principal Financial Officer)

Date: April 29, 2011


EXHIBIT INDEX

Exhibit No. Description
 
99.1 Schedules showing the effect on net sales and operating income of changes in reportable segments for quarterly
  periods of 2010, full year 2010, and full year 2009.

EX-99.1 2 e43340ex99-1.htm SCHEDULES
EXHIBIT 99.1
USD 000's                  
Segment net sales reclassification
quarter ended March 31, 2010
As previously
reported
Effect of change in
reportable segments
Segment totals based
on 2011 classification
Paper Machine Clothing   $144,408     $2,329     $146,737  
Albany Door Systems   33,755     -     33,755  
Engineered Fabrics   21,441     (2,329 )   19,112  
Engineered Composites   8,641     -     8,641  
PrimaLoft® Products   5,628     -     5,628  
Total   $213,873     -     $213,873  
                   
USD 000's                  
Segment operating income
reclassification quarter ended
March 31, 2010
As previously
reported
Effect of change in
reportable segments
Segment totals based
on 2011 classification
Paper Machine Clothing   $26,797     $864     $27,661  
Albany Door Systems   2,884     -     2,884  
Engineered Fabrics   2,521     (864 )   1,657  
Engineered Composites   (2,229 )   -     (2,229 )
PrimaLoft® Products   2,069     -     2,069  
Research expense   (5,811 )   -     (5,811 )
Unallocated expenses   (16,470 )   -     (16,470 )
Total   $9,761     -     $9,761  
                   
USD 000's                  
Segment net sales reclassification
As previously
Effect of change in
Segment totals based
quarter ended June 30, 2010
reported
reportable segments
on 2011 classification
Paper Machine Clothing   $150,755     $2,907     $153,662  
Albany Door Systems   33,792     -     33,792  
Engineered Fabrics   23,939     (2,907 )   21,032  
Engineered Composites   10,870     -     10,870  
PrimaLoft® Products   8,094     -     8,094  
Total   $227,450     -     $227,450  
                   
USD 000's                  
Segment operating income
reclassification quarter ended
June 30, 2010
As previously
reported
Effect of change in
reportable segments
Segment totals based
on 2011 classification
Paper Machine Clothing   $37,544     $1,031     $38,575  
Albany Door Systems   2,339     -     2,339  
Engineered Fabrics   4,866     (1,031 )   3,835  
Engineered Composites   (1,989 )   -     (1,989 )
PrimaLoft® Products   2,926     -     2,926  
Research expense   (7,132 )   -     (7,132 )
Unallocated expenses   (14,774 )   -     (14,774 )
Total   $23,780     -     $23,780  


USD 000's                  
Segment net sales                  
reclassification quarter ended
As previously
reported
Effect of change in
reportable segments
Segment totals based on
2011 classification
September 30, 2010
Paper Machine Clothing   $155,008     $2,461     $157,469  
Albany Door Systems   36,247     -     36,247  
Engineered Fabrics   20,961     (2,461 )   18,500  
Engineered Composites   10,585     -     10,585  
PrimaLoft® Products   5,613     -     5,613  
Total   $228,414     -     $228,414  
 
USD 000's                  
Segment operating income
reclassification quarter ended
September 30, 2010
As previously
reported
Effect of change in
reportable segments
Segment totals based on
2011 classification
Paper Machine Clothing   $38,916     $1,268     $40,184  
Albany Door Systems   2,490     -     2,490  
Engineered Fabrics   2,391     (1,268 )   1,123  
Engineered Composites   (2,637 )   -     (2,637 )
PrimaLoft® Products   1,264     -     1,264  
Research expense   (6,330 )   -     (6,330 )
Unallocated expenses   (17,942 )   -     (17,942 )
Total   $18,152     -     $18,152  
 
USD 000's                  
Segment net sales reclassification
quarter ended December 31, 2010		 As previously
reported		 Effect of change in
reportable segments		 Segment totals based on
2011 classification
Paper Machine Clothing   $163,339     $2,348     $165,687  
Albany Door Systems   44,793     -     44,793  
Engineered Fabrics   21,169     (2,348 )   18,821  
Engineered Composites   11,771     -     11,771  
PrimaLoft® Products   3,547     -     3,547  
Total   $244,619     -     $244,619  
 
USD 000's                  
Segment operating income                  
reclassification quarter ended
As previously
Effect of change in
Segment totals based
December 31, 2010
reported
reportable segments
on 2011 classification
Paper Machine Clothing   $49,102     $1,037     $50,139  
Albany Door Systems   4,884     -     4,884  
Engineered Fabrics   3,524     (1,037 )   2,487  
Engineered Composites   (2,321 )   -     (2,321 )
PrimaLoft® Products   351     -     351  
Research expense   (6,791 )   -     (6,791 )
Unallocated expenses   (19,258 )   -     (19,258 )
Total   $29,491     -     $29,491  


USD 000's                  
Segment net sales                  
reclassification year ended
As previously
Effect of change in
Segment totals based
December 31, 2010
reported
reportable segments
on 2011 classification
Paper Machine Clothing   $613,510     $10,045     $623,555  
Albany Door Systems   148,587     -     148,587  
Engineered Fabrics   87,510     (10,045 )   77,465  
Engineered Composites   41,867     -     41,867  
PrimaLoft® Products   22,882     -     22,882  
Total   $914,356     -     $914,356  
 
USD 000's                  
Segment operating income                  
reclassification year ended
As previously
Effect of change in
Segment totals based
December 31, 2010
reported
reportable segments
on 2011 classification
Paper Machine Clothing   $152,359     $4,200     $156,559  
Albany Door Systems   12,597     -     12,597  
Engineered Fabrics   13,302     (4,200 )   9,102  
Engineered Composites   (9,176 )   -     (9,176 )
PrimaLoft® Products   6,610     -     6,610  
Research expense   (26,064 )   -     (26,064 )
Unallocated expenses   (68,444 )   -     (68,444 )
Total   $81,184     -     $81,184  
 
USD 000's                  
Segment net sales                  
reclassification year ended
As previously
Effect of change in
Segment totals based
December 31, 2009
reported
reportable segments
on 2011 classification
Paper Machine Clothing   $598,590     $11,308     $609,898  
Albany Door Systems   133,423     -     133,423  
Engineered Fabrics   86,216     (11,308 )   74,908  
Engineered Composites   33,824     -     33,824  
PrimaLoft® Products   18,992     -     18,992  
Total   $871,045     -     $871,045  
 
USD 000's                  
Segment operating income                  
reclassification year ended
As previously
Effect of change in
Segment totals based
December 31, 2009
reported
reportable segments
on 2011 classification
Paper Machine Clothing   $37,530     $5,094     $42,624  
Albany Door Systems   (259 )   -     (259 )
Engineered Fabrics   8,141     (5,094 )   3,047  
Engineered Composites   (6,653 )   -     (6,653 )
PrimaLoft® Products   3,689     -     3,689  
Research expense   (23,849 )   -     (23,849 )
Unallocated expenses   (56,797 )   -     (56,797 )
Total   ($38,198 )   -     ($38,198 )