Albany International Corp. (NYSE:AIN) Q1 2018 Earnings Conference Call - Preliminary Transcript

May 08, 2018 • 09:00 am ET


Albany International Corp. (NYSE:AIN) Q1 2018 Earnings Conference Call - Preliminary Transcript


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Ladies and gentlemen thank you for standing by. Welcome to the First Quarter Earnings Call of Albany International. (Operator Instructions). At the request of Albany International this conference call on Tuesday May 8 2018 will be webcast and recorded.

I would now like to turn the conference over to Chief Financial Officer and Treasurer John Cozzolino for introductory comments. Please go ahead.

John Cozzolino

Thank you, operator, and good morning everyone. As a reminder for those listening on the call, please refer to our detailed press release issued last night regarding our quarterly financial results with particular reference to the Safe Harbor notice contained in the text of the release about our forward-looking statements and the use of certain non-GAAP financial measures and associate reconciliation of GAAP. And for purposes of this conference call, those same statements also apply to our verbal remarks this morning. And for a full discussion please refer to that earnings release, as well as our SEC filings including our 10-K.

Now I will turn the call over to Olivier Jarrault, our Chief Executive Officer, who'll provide some opening remarks. Olivier?

Olivier M. Jarrault

Thank you, John. Well good morning and welcome everyone, and thank you for joining the first quarter earnings call also my first earnings call with Albany International. We will follow this morning a similar format of past calls. I will begin with an overview of the quarter, then John will take you through our financial results in more detail, after which, I will provide an update to our 2018 outlook. We will then take your questions.

But before I get started, I would like to take a few minutes to share with you my initial observations, my initial impressions of the business. As you all know, I joined the company on March 2, and I have since spent my time learning about our two businesses; Machine Clothing MC; and Albany Engineered Composites AEC, meeting some of our key customers, meeting our employees while visiting several manufacturing sites in the US and in Europe.

As I continue to dive deeper, I could not be more impressed and excited about what I have learned so far, and more specifically, what I have learned about our people, about our markets, and about our technologies. First, our people; I am so impressed with the amount of talent, of dedication that I have discovered in Albany team members through my site visits. I had only met energized, engaged employees proud of their company with deep knowledge of their respective industries, and all of them focused on growth, focused on innovation, and focused on financial performance.

And by the way these common characteristics apply for the two groups MC and AEC and among all disciplines. So again our markets; I am excited about the strength of the markets we serve, and our leading positions within both the paper machine clothing markets and the specialty composites jet engine and airframe components market. Within the global paper and paperboard industry excited about the growth of the