<SEC-DOCUMENT>0001157523-12-000614.txt : 20120209
<SEC-HEADER>0001157523-12-000614.hdr.sgml : 20120209
<ACCEPTANCE-DATETIME>20120208191853
ACCESSION NUMBER:		0001157523-12-000614
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20120208
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20120209
DATE AS OF CHANGE:		20120208

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:		12583548

	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
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>a50162374.htm
<DESCRIPTION>ALBANY INTERNATIONAL CORP. 8-K
<TEXT>
<html>
  <head>
    <title></title>
<!--Copyright 2012 Business Wire, a Berkshire Hathaway company.-->
<!--All rights reserved www.businesswire.com-->
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  <body style="font-family: Times New Roman; font-size: 10pt">
    <p style="text-align: center">
      <font style="font-size: 10pt; font-family: Times New Roman"><b>UNITED
      STATES</b></font><b><font style="font-size: 10pt; font-family: Times New Roman"><br style="font-family: Times New Roman; font-size: 10pt"></font><font style="font-size: 10pt; font-family: Times New Roman">SECURITIES
      AND EXCHANGE COMMISSION</font></b><br><font style="font-size: 10pt; font-family: Times New Roman"><b>Washington,
      D.C. 20549</b></font><br><br><font style="font-size: 13pt; font-family: Times New Roman"><b>FORM
      8-K</b></font><br><br><font style="font-size: 11pt; font-family: Times New Roman"><b>CURRENT
      REPORT</b></font><font style="font-size: 11pt"><br style="font-size: 11pt"></font><font style="font-size: 11pt; font-family: Times New Roman"><b>Pursuant
      to Section 13 OR 15(d) of the Securities Exchange Act of 1934</b></font><br><br>
    </p>
    <p style="text-align: left">
      <font style="font-size: 10pt; font-family: Times New Roman">Date of
      Report (Date of earliest event reported) &#160;&#160;&#160;&#160;&#160;February 8, 2012</font><br><br>
    </p>
<div style="text-align:left">
    <table style="width: 100%; margin-bottom: 10.0px; font-size: 10pt; font-family: Times New Roman" cellspacing="0">
      <tr>
        <td valign="top" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; text-align: center">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <font style="font-size: 14pt; font-family: Times New Roman"><b>ALBANY
            INTERNATIONAL CORP.</b></font>
          </p>
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; text-align: center">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <font style="font-size: 10pt; font-family: Times New Roman">(Exact
            name of registrant as specified in its charter)</font>
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p style="text-align: center">
      <br>

    </p>
<div style="text-align:left">
    <table style="width: 100%; margin-bottom: 10.0px; font-size: 10pt; font-family: Times New Roman" cellspacing="0">
      <tr>
        <td valign="bottom" style="width: 33%; border-bottom: solid black 1.0pt; padding-left: 0.0px; text-align: center">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>Delaware</b>
          </p>
        </td>
        <td valign="bottom" style="width: 34%; border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: center; white-space: nowrap">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>1-10026</b>
          </p>
        </td>
        <td valign="bottom" style="width: 33%; border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: center; white-space: nowrap">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>14-0462060</b>
          </p>
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="width: 33%; padding-left: 0.0px; text-align: center">
          <p style="margin-bottom: 0px; margin-top: 0px">
            (State or other jurisdiction
          </p>
          <p style="margin-bottom: 0px; margin-top: 0px">
            of incorporation)
          </p>
        </td>
        <td valign="bottom" style="width: 34%; padding-left: 0.0px; text-align: center">
          <p style="margin-bottom: 0px; margin-top: 0px">
            (Commission
          </p>
          <p style="margin-bottom: 0px; margin-top: 0px">
            File Number)
          </p>
        </td>
        <td valign="bottom" style="width: 33%; padding-left: 0.0px; text-align: center">
          <p style="margin-bottom: 0px; margin-top: 0px">
            (I.R.S Employer
          </p>
          <p style="margin-bottom: 0px; margin-top: 0px">
            Identification No.)
          </p>
        </td>
      </tr>
    </table>
    </div>
<div style="text-align:left">
    <table style="width: 100%; margin-bottom: 10.0px; font-size: 10pt; font-family: Times New Roman" cellspacing="0">
      <tr>
        <td valign="bottom" style="width: 65%; border-bottom: solid black 1.0pt; padding-left: 0.0px; text-align: center">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>216 Airport Drive, Rochester, New Hampshire</b>
          </p>
        </td>
        <td valign="bottom" style="width: 35%; border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: center; white-space: nowrap">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>03867</b>
          </p>
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="width: 65%; padding-left: 0.0px; text-align: center">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <font style="font-size: 10pt; font-family: Times New Roman">(Address
            of principal executive offices)</font>
          </p>
        </td>
        <td valign="bottom" style="width: 35%; padding-left: 0.0px; text-align: center">
          <font style="font-size: 10pt; font-family: Times New Roman">(Zip
          Code)</font>
        </td>
      </tr>
    </table>
    </div>
    <p style="text-align: left">
      <font style="font-size: 10pt; font-family: Times New Roman">Registrant&#8217;s
      telephone number, including area code &#160;&#160;&#160;&#160;&#160;&#160;(518) 445-2200</font>
    </p>
<div style="text-align:left">
    <table style="width: 100%; margin-bottom: 10.0px; font-size: 10pt; font-family: Times New Roman" cellspacing="0">
      <tr>
        <td valign="top" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; text-align: center">
          None
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; text-align: center">
          <p style="margin-bottom: 0px; margin-top: 0px">
            (Former name or former address, if changed since last report.)
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p style="text-align: center">

    </p>
    <p>
      <font style="font-size: 10pt; font-family: Times New Roman">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:</font>
    </p>
    <p>
      <font style="font-size: 10pt; font-family: Arial Unicode MS">&#8414;</font>
      <font style="font-size: 10pt; font-family: Times New Roman">Written
      communications pursuant to Rule 425 under the Securities Act (17 CFR
      230.425)</font>
    </p>
    <p>
      <font style="font-size: 10pt; font-family: Arial Unicode MS">&#8414;</font>
      <font style="font-size: 10pt; font-family: Times New Roman">Soliciting
      material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
      240.14a-12)</font>
    </p>
    <p>
      <font style="font-size: 10pt; font-family: Arial Unicode MS">&#8414;</font>
      <font style="font-size: 10pt; font-family: Times New Roman">Pre-commencement
      communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
      240.14d-2(b))</font>
    </p>
    <p>
      <font style="font-size: 10pt; font-family: Arial Unicode MS">&#8414;</font>
      <font style="font-size: 10pt; font-family: Times New Roman">Pre-commencement
      communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
      240.13e-4(c))</font>
    </p>
    <div style="text-indent: 0pt; margin-bottom: 10pt; width: 100%; margin-left: 0pt; margin-right: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>

    </p>
    <p style="white-space: nowrap">
      <b>Item 2.02.&#160;&#160;Results of Operations and Financial Condition.</b><br>
    </p>
    <p>
      On February 8, 2012, Albany International issued a news release
      reporting fourth quarter 2011 financial results.&#160;&#160;A copy of the news
      release is furnished as Exhibit 99.1 to this report.
    </p>
    <p>

    </p>
    <p style="white-space: nowrap">
      <b>Item 9.01.&#160;&#160;Financial Statements and Exhibits.</b><br>
    </p>
    <p style="text-indent: 30.0px; white-space: nowrap">
      (d)&#160;&#160;Exhibits.&#160;&#160;The following exhibit is being furnished herewith:<br>
    </p>
    <p style="white-space: nowrap">

    </p>
    <p style="text-indent: 60.0px; white-space: nowrap">
      &#160;99.1&#160;&#160;&#160;&#160;&#160;News release dated February 8, 2012 reporting fourth quarter
      2011 financial results.<br>
    </p>
    <p>

    </p>
    <div style="text-indent: 0pt; margin-bottom: 10pt; width: 100%; margin-left: 0pt; margin-right: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p style="text-align: center">

    </p>
    <p style="text-align: center">
      <font style="font-size: 10pt; font-family: Times New Roman"><b>Signature</b></font>
    </p>
    <p style="text-align: left">
      <br>
      <br>
      <br>
      <font style="font-size: 10pt; font-family: Times New Roman">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.</font>
    </p>
    <p style="text-align: left">
      <br>
      <br>

    </p>
    <div style="text-align:center">
    <table style="width: 100%; margin-bottom: 10.0px; font-size: 10pt; font-family: Times New Roman; margin-left:auto;margin-right:auto" cellspacing="0">
      <tr>
        <td style="width: 5%">

        </td>
        <td style="width: 25%">

        </td>
        <td style="width: 30%">
          &#160;
        </td>
        <td valign="top" colspan="2" style="padding-left: 0.0px; text-align: left">
          <p style="margin-bottom: 0px; margin-top: 0px">
            ALBANY INTERNATIONAL CORP.
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 5%">

        </td>
        <td style="width: 25%">

        </td>
        <td style="width: 30%">

        </td>
        <td valign="top" colspan="2" style="padding-left: 0.0px; text-align: left">
          <p style="margin-bottom: 0px; margin-top: 0px">
            &#160;
          </p>
        </td>
      </tr>
      <tr>
        <td valign="top" style="width: 5%; padding-left: 0.0px; text-align: left">

        </td>
        <td style="width: 25%">

        </td>
        <td style="width: 30%">

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="width: 5%; padding-left: 0.0px; text-align: left">
          <p style="margin-bottom: 0px; margin-top: 0px">
            &#160;
          </p>
        </td>
        <td valign="top" style="width: 25%; padding-left: 0.0px; text-align: left">
          <p style="margin-bottom: 0px; margin-top: 0px">
            &#160;
          </p>
        </td>
        <td style="width: 30%">

        </td>
        <td valign="top" style="width: 2%; padding-left: 0.0px; text-align: left">
          By:
        </td>
        <td valign="top" style="width: 38%; padding-left: 0.0px; text-align: left">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <u>/s/ John B. Cozzolino</u>
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 5%">

        </td>
        <td style="width: 25%">

        </td>
        <td style="width: 30%">

        </td>
        <td style="width: 2%">

        </td>
        <td style="width: 38%">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="width: 5%">

        </td>
        <td style="width: 25%">

        </td>
        <td style="width: 30%">

        </td>
        <td valign="top" colspan="2" style="padding-left: 0.0px; text-align: left">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Name: John B. Cozzolino
          </p>
        </td>
      </tr>
      <tr>
        <td valign="top" style="width: 5%; padding-left: 0.0px; text-align: left">
          <p style="margin-bottom: 0px; margin-top: 0px">
            &#160;
          </p>
        </td>
        <td valign="top" style="width: 25%; padding-left: 0.0px; text-align: left">
          <p style="margin-bottom: 0px; margin-top: 0px">
            &#160;
          </p>
        </td>
        <td style="width: 30%">

        </td>
        <td valign="top" colspan="2" style="padding-left: 0.0px; text-align: left">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Title: Chief Financial Officer and Treasurer
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 5%">

        </td>
        <td style="width: 25%">

        </td>
        <td style="width: 30%">

        </td>
        <td valign="top" colspan="2" style="padding-left: 0.0px; text-align: left">
          <p style="margin-bottom: 0px; margin-top: 0px">
            (Principal Financial Officer)
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 5%">

        </td>
        <td style="width: 25%">

        </td>
        <td style="width: 30%">

        </td>
        <td style="width: 2%">

        </td>
        <td style="width: 38%">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="width: 5%">

        </td>
        <td style="width: 25%">

        </td>
        <td style="width: 30%">

        </td>
        <td style="width: 2%">

        </td>
        <td style="width: 38%">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="width: 5%; padding-left: 0.0px; text-align: left">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Date:
          </p>
        </td>
        <td valign="top" style="width: 25%; padding-left: 0.0px; text-align: left">
          <p style="margin-bottom: 0px; margin-top: 0px">
            February 8, 2012
          </p>
        </td>
        <td style="width: 30%">

        </td>
        <td style="width: 2%">

        </td>
        <td style="width: 38%">

        </td>
      </tr>
    </table>
    </div>
    <div style="text-indent: 0pt; margin-bottom: 10pt; width: 100%; margin-left: 0pt; margin-right: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>

    </p>
    <p style="text-align: center">
      <b>EXHIBIT INDEX</b><br><br>
    </p>
    <div style="text-align:center">
    <table style="width: 100%; margin-bottom: 10.0px; font-size: 10pt; font-family: Times New Roman; margin-left:auto;margin-right:auto" cellspacing="0">
      <tr>
        <td valign="top" style="width: 15%; padding-left: 0.0px; text-align: left">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <u><b>Exhibit No.</b></u>
          </p>
        </td>
        <td style="width: 2%">
          &#160;
        </td>
        <td valign="top" style="width: 83%; padding-left: 0.0px; text-align: left">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <u><b>Description</b></u>
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 15%">

        </td>
        <td style="width: 2%">

        </td>
        <td style="width: 83%">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="width: 15%; padding-left: 0.0px; padding-right: 0.0px; text-align: left; white-space: nowrap">
          <p style="margin-bottom: 0px; margin-top: 0px">
            99.1
          </p>
        </td>
        <td style="width: 2%">

        </td>
        <td valign="top" style="width: 83%; padding-left: 0.0px; text-align: left">
          <p style="margin-bottom: 0px; margin-top: 0px">
            News release dated February 8, 2012 reporting fourth quarter 2011
            financial results.
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p style="text-align: center">

    </p>
  </body>
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>a50162374ex991.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
<html>
  <head>
    <title></title>
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<!--All rights reserved www.businesswire.com-->
  </head>
  <body style="font-family: Times New Roman; font-size: 8pt">
    <p style="text-align: right">
      <b>Exhibit 99.1</b>
    </p>
    <p style="text-align: center">
      <font style="font-size: 12pt; font-family: Times New Roman"><b>Albany
      International Reports Fourth-Quarter Results</b></font>
    </p>
    <p>
      <font style="font-size: 12pt; font-family: Times New Roman"><b>Fourth-Quarter
      Highlights</b></font>
    </p>
    <ul>
      <li style="margin-bottom: 10.0px">
        <font style="font-size: 12pt; font-family: Times New Roman"><b>The
        Company completed the sale of its global Albany Door Systems (&#8220;ADS&#8221;)
        business to ASSA ABLOY AB on January 11, 2012, for $130 million,
        subject to customary post-closing adjustments. As the result of the
        completed sale, ADS results are reported in this release as
        discontinued operations. Although the gain from the ADS sale will be
        reflected in Q1 2012 results, the transaction resulted in a discrete
        tax charge that reduced Q4 2011 results from continuing operations by
        $22.1 million.</b></font>
      </li>
    </ul>
    <ul>
      <li style="margin-bottom: 10.0px">
        <font style="font-size: 12pt; font-family: Times New Roman"><b>Including
        income from discontinued operations of $0.04, restructuring charges of
        $0.10, foreign currency revaluation gains of $0.08, and net
        unfavorable income tax adjustments of $0.50, net income per share was
        a loss of $0.23.</b></font>
      </li>
      <li style="margin-bottom: 10.0px">
        <font style="font-size: 12pt; font-family: Times New Roman"><b>Including
        income from discontinued operations of $0.09, restructuring charges of
        $0.02, a gain on the sale of a building of $0.15, foreign currency
        revaluation gains of $0.07, and favorable income tax adjustments of
        $0.09, net income per share was $0.66 in the fourth quarter of 2010.</b></font>
      </li>
      <li style="margin-bottom: 10.0px">
        <font style="font-size: 12pt; font-family: Times New Roman"><b>Net
        sales from continuing operations were $202.6 million, an increase of
        1.4 percent compared to Q4 2010. Excluding the effects of changes in
        currency translation rates, net sales increased 1.2 percent.</b></font>
      </li>
      <li style="margin-bottom: 10.0px">
        <font style="font-size: 12pt; font-family: Times New Roman"><b>Total
        Company EBITDA, excluding restructuring, foreign currency revaluation
        effects, and a gain on the sale of a building, was $38.8 million in
        the fourth quarter 2011, compared to $37.5 million in 2010. EBITDA
        from continuing operations, excluding the same effects, was $32.3
        million in the fourth quarter 2011, compared to $32.6 million in 2010
        (see Table 5).</b></font>
      </li>
      <li style="margin-bottom: 10.0px">
        <font style="font-size: 12pt; font-family: Times New Roman"><b>Including
        contributions of $20 million to the Company&#8217;s pension plans, net debt
        in the quarter declined $10.1 million to $255.9 million.</b></font>
      </li>
    </ul>
    <p>
      ROCHESTER, N.H.--(BUSINESS WIRE)--February 8, 2012--Albany International
      Corp. (NYSE:AIN) completed the sale of its global Albany Door Systems
      (&#8220;ADS&#8221;) business to ASSA ABLOY AB on January 11, 2012, for $130 million,
      subject to customary post-closing adjustments. The operating results and
      financial position of ADS are therefore reported as discontinued
      operations. Although the gain from the ADS sale will be reflected in Q1
      2012 results, the transaction resulted in a discrete tax charge that
      reduced Q4 2011 results from continuing operations by $22.1 million.
    </p>
    <div style="text-indent: 0pt; width: 100%; margin-bottom: 10pt; margin-left: 0pt; margin-right: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>
      Total Company fourth-quarter 2011 net loss was $7.2 million ($0.23 per
      share), including income from discontinued operations of $1.2 million
      ($0.04 per share), restructuring charges of $4.9 million ($0.10 per
      share), foreign currency revaluation gains of $3.6 million ($0.08 per
      share), and unfavorable income tax adjustments of $15.5 million ($0.50
      per share). For the fourth quarter of 2010, the Company reported net
      income of $20.5 million ($0.66 per share), including a gain on the sale
      of a building of $7.0 million ($0.15 per share), income from
      discontinued operations of $2.9 million ($0.09 per share), restructuring
      charges of $1.0 million ($0.02 per share), foreign currency revaluation
      gains of $3.2 million ($0.07 per share), and favorable income tax
      adjustments of $2.8 million ($0.09 per share).
    </p>
    <p>
      <u>Fourth Quarter Results from Continuing Operations</u>
    </p>
    <p>
      Net sales for Q4 2011 were $202.6 million, an increase of 1.4 percent
      compared to the fourth quarter of 2010. Excluding the effects of changes
      in currency translation rates, net sales increased 1.2 percent as shown
      below.
    </p>
<div style="text-align:left">
    <table style="margin-bottom: 10.0px; width: 100%; font-size: 8pt; font-family: Times New Roman" cellspacing="0">
      <tr>
        <td colspan="17">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" colspan="17" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; text-align: left">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Table 1
          </p>
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; text-align: left">
          <p style="margin-bottom: 0px; margin-top: 0px">
            &#160;
          </p>
          <p style="margin-bottom: 0px; margin-top: 0px">
            &#160;
          </p>
        </td>
        <td>
          &#160;
        </td>
        <td valign="bottom" colspan="5" style="padding-left: 0.0px; padding-right: 0.0px; text-align: center; white-space: nowrap">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Net Sales<br>Three Months ended<br>December 31,
          </p>
        </td>
        <td>
          &#160;
        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; padding-right: 0.0px; text-align: center; white-space: nowrap">
          <p style="margin-bottom: 0px; margin-top: 0px">
            &#160;
          </p>
          <p style="margin-bottom: 0px; margin-top: 0px">
            &#160;
          </p>
          <p style="margin-bottom: 0px; margin-top: 0px">
            &#160;
          </p>
          <p style="margin-bottom: 0px; margin-top: 0px">
            Percent
          </p>
        </td>
        <td>
          &#160;
        </td>
        <td valign="bottom" colspan="3" style="padding-left: 0.0px; padding-right: 0.0px; text-align: center; white-space: nowrap">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Impact of<br>Changes<br>in Currency<br>Translation
          </p>
        </td>
        <td>
          &#160;
        </td>
        <td valign="bottom" colspan="2" style="padding-left: 0.0px; padding-right: 0.0px; text-align: center; white-space: nowrap">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Percent<br>Change<br>excluding<br>Currency
          </p>
        </td>
      </tr>
      <tr>
        <td valign="top" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; text-align: left">
          <p style="margin-bottom: 0px; margin-top: 0px">
            (in thousands)
          </p>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" colspan="2" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: center; white-space: nowrap">
          <p style="margin-bottom: 0px; margin-top: 0px">
            2011
          </p>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" colspan="2" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: center; white-space: nowrap">
          <p style="margin-bottom: 0px; margin-top: 0px">
            2010
          </p>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" colspan="2" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: center; white-space: nowrap">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Change
          </p>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" colspan="3" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: center; white-space: nowrap">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Rates
          </p>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" colspan="2" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: center; white-space: nowrap">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Rate Effect
          </p>
        </td>
      </tr>
      <tr>
        <td valign="middle" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; text-align: left">
          Paper Machine Clothing (PMC)
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          163,030
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          165,687
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          -1.6
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: left; white-space: nowrap">
          %
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          501
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          -1.9
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: left; white-space: nowrap">
          %
        </td>
      </tr>
      <tr>
        <td valign="middle" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; text-align: left">
          Engineered Fabrics (EF)
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          20,189
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          18,821
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          7.3
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          (52
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: left; white-space: nowrap">
          )
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          7.5
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="middle" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; text-align: left">
          Engineered Composites (AEC)
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          14,182
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          11,771
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          20.5
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          -
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          20.5
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="middle" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; text-align: left">
          PrimaLoft<sup>&#174;</sup> Products
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          5,216
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          3,547
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          47.1
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          (78
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: left; white-space: nowrap">
          )
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          49.3
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="middle" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; text-align: left">
          Total
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          202,617
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          199,826
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          1.4
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: left; white-space: nowrap">
          %
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          371
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          1.2
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: left; white-space: nowrap">
          %
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
      </tr>
    </table>
    </div>
    <p>
      Gross profit was 39.5 percent of net sales in the fourth quarter of
      2011, compared to 40.3 percent in the same period of 2010. Q4 2011 gross
      profit was reduced by a significant seasonal slowdown in PMC production
      in December. Q4 2010 gross profit was increased by unusually high
      production levels due to inventory restocking, which offset asset
      write-offs of $3.2 million.
    </p>
    <div style="text-indent: 0pt; margin-bottom: 10pt; width: 100%; margin-left: 0pt; margin-right: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>
      Selling, technical, general, and research (STG&amp;R) expenses were $62.7
      million, or 31.0 percent of net sales, in the fourth quarter of 2011.
      STG&amp;R expenses included gains of $1.0 million related to the revaluation
      of non-functional-currency assets and liabilities. Compared to Q4 2010,
      STG&amp;R expenses reflect an increase of $1.4 million in Research and
      Development, which includes a significant increase in R&amp;D spending at
      Engineered Composites. In the fourth quarter of 2010, STG&amp;R expenses
      were $54.7 million, or 27.4 percent of net sales, including gains of
      $7.0 million from the sale of a building, and $0.4 million related to
      the revaluation of non-functional-currency assets and liabilities.
    </p>
    <p>
      As shown in Table 2, operating income was $12.5 million in the fourth
      quarter of 2011, compared to $24.8 million for the same period of 2010.
      Q4 2011 operating income was reduced by restructuring charges of $4.9
      million and increased by currency revaluation gains of $1.0 million. Q4
      2010 operating income was increased by $7.0 million from the sale of a
      building and $0.4 million from currency revaluation gains, and was
      reduced by $1.0 million of restructuring charges (see Tables 3 and 4).
    </p>
<div style="text-align:left">
    <table style="margin-bottom: 10.0px; width: 100%; font-size: 8pt; font-family: Times New Roman" cellspacing="0">
      <tr>
        <td colspan="9">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" colspan="9" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; text-align: left">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Table 2
          </p>
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; text-align: left">
          <p style="margin-bottom: 0px; margin-top: 0px">
            &#160;
          </p>
          <p style="margin-bottom: 0px; margin-top: 0px">
            &#160;
          </p>
          <p style="margin-bottom: 0px; margin-top: 0px">
            &#160;
          </p>
        </td>
        <td>
          &#160;
        </td>
        <td valign="top" colspan="7" style="padding-left: 0.0px; padding-right: 0.0px; text-align: center; white-space: nowrap">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Operating Income/(loss)
          </p>
          <p style="margin-bottom: 0px; margin-top: 0px">
            Three Months ended
          </p>
          <p style="margin-bottom: 0px; margin-top: 0px">
            December 31,
          </p>
        </td>
      </tr>
      <tr>
        <td valign="top" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; text-align: left">
          <p style="margin-bottom: 0px; margin-top: 0px">
            (in thousands)
          </p>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" colspan="3" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: center; white-space: nowrap">
          <p style="margin-bottom: 0px; margin-top: 0px">
            2011
          </p>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" colspan="3" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: center; white-space: nowrap">
          <p style="margin-bottom: 0px; margin-top: 0px">
            2010
          </p>
        </td>
      </tr>
      <tr>
        <td valign="middle" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; text-align: left">
          Paper Machine Clothing*
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          37,078
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          50,139
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="middle" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; text-align: left">
          Engineered Fabrics
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          2,834
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          2,487
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="middle" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; text-align: left">
          Engineered Composites
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          (583
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: left; white-space: nowrap">
          )
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          (2,321
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: left; white-space: nowrap">
          )
        </td>
      </tr>
      <tr>
        <td valign="middle" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; text-align: left">
          PrimaLoft<sup>&#174;</sup> Products
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          2,230
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          351
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="middle" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; text-align: left">
          Research expenses
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          (8,230
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: left; white-space: nowrap">
          )
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          (6,791
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: left; white-space: nowrap">
          )
        </td>
      </tr>
      <tr>
        <td valign="middle" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; text-align: left">
          Unallocated expenses
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          (20,804
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: left; white-space: nowrap">
          )
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          (19,016
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: left; white-space: nowrap">
          )
        </td>
      </tr>
      <tr>
        <td valign="middle" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; text-align: left">
          Total
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          12,525
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          24,849
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>
          &#160;
        </td>
        <td colspan="3">

        </td>
      </tr>
    </table>
    </div>
    <p>
      *<i>Q4 2010 PMC operating income included a gain of $7.0 million related
      to the sale of a building.</i>
    </p>
    <div style="text-indent: 0pt; margin-bottom: 10pt; width: 100%; margin-left: 0pt; margin-right: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>
      Fourth-quarter segment operating income included the following U.S. GAAP
      restructuring charges:
    </p>
<div style="text-align:left">
    <table style="margin-bottom: 10.0px; width: 100%; font-size: 8pt; font-family: Times New Roman" cellspacing="0">
      <tr>
        <td colspan="7">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" colspan="7" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; text-align: left">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Table 3
          </p>
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; text-align: left">
          <p style="margin-bottom: 0px; margin-top: 0px">
            &#160;
          </p>
          <p style="margin-bottom: 0px; margin-top: 0px">
            &#160;
          </p>
          <p style="margin-bottom: 0px; margin-top: 0px">
            &#160;
          </p>
        </td>
        <td>
          &#160;
        </td>
        <td valign="top" colspan="5" style="padding-left: 0.0px; padding-right: 0.0px; text-align: center; white-space: nowrap">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Restructuring charges
          </p>
          <p style="margin-bottom: 0px; margin-top: 0px">
            Three Months ended
          </p>
          <p style="margin-bottom: 0px; margin-top: 0px">
            December 31,
          </p>
        </td>
      </tr>
      <tr>
        <td valign="top" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; text-align: left">
          <p style="margin-bottom: 0px; margin-top: 0px">
            (in thousands)
          </p>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" colspan="2" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: center; white-space: nowrap">
          <p style="margin-bottom: 0px; margin-top: 0px">
            2011
          </p>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" colspan="2" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: center; white-space: nowrap">
          <p style="margin-bottom: 0px; margin-top: 0px">
            2010
          </p>
        </td>
      </tr>
      <tr>
        <td valign="middle" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; text-align: left">
          Paper Machine Clothing
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          2,339
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          527
        </td>
      </tr>
      <tr>
        <td valign="middle" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; text-align: left">
          Engineered Fabrics
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          126
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          45
        </td>
      </tr>
      <tr>
        <td valign="middle" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; text-align: left">
          Engineered Composites
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          -
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          477
        </td>
      </tr>
      <tr>
        <td valign="middle" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; text-align: left">
          Unallocated expenses
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          2,396
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          -
        </td>
      </tr>
      <tr>
        <td valign="middle" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; text-align: left">
          Total
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          4,861
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          1,049
        </td>
      </tr>
      <tr>
        <td colspan="7">
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <p>
      Restructuring charges in Q4 2011 were primarily due to the planned
      shutdown of manufacturing operations at the Company&#8217;s PMC plant in
      Menasha, Wisconsin, and the relocation of the Company&#8217;s headquarters to
      Rochester, New Hampshire.
    </p>
    <p>
      Q4 2011 Other income/expense, net, was income of $2.3 million, including
      gains of $2.6 million related to the revaluation of
      non-functional-currency intercompany balances. Other income/expense,
      net, in Q4 2010 was income of $1.3 million, including gains of $2.8
      million related to the revaluation of non-functional-currency
      intercompany balances.
    </p>
    <p>
      Interest expense, net, was $4.2 million in Q4 2011 compared to $4.7
      million in Q4 2010. The decrease was primarily due to lower average debt
      in 2011.
    </p>
    <p>
      The Company&#8217;s effective income tax rate, exclusive of income tax
      adjustments, was 34 percent for the fourth quarter of 2011. Q4 income
      tax expense includes a discrete tax charge of $22.1 million for a
      valuation allowance associated with deferred tax assets in Germany which
      was due to the lower income projections that are expected with the sale
      of the Doors business. In addition, Q4 income tax expense reflects net
      favorable adjustments of $6.6 million, including a favorable adjustment
      of $3.5 million to correct errors from periods prior to 2006 in the
      Company&#8217;s balances of income taxes payable and deferred. The Company has
      assessed the materiality of these items in accordance with the SEC&#8217;s
      Staff Accounting Bulletin (&#8220;SAB&#8221;) No. 99 and concluded that the error
      was not material to any of its previously reported quarterly or annual
      financial statements. The Company then considered the guidance in SAB
      108, and determined that the correction to the balances of income taxes
      payable and deferred should be recorded as expense in the fourth quarter
      of 2011, as such amount was determined to be not material.<b> </b>For Q4
      2010, the income tax rate, exclusive of income tax adjustments, was 31
      percent. Q4 2010 income tax adjustments reduced income tax expense $2.8
      million, principally resulting from a decrease in the estimated tax rate.
    </p>
    <div style="text-indent: 0pt; margin-bottom: 10pt; width: 100%; margin-left: 0pt; margin-right: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>
      Q4 2011 EBITDA was $31.0 million, including restructuring charges of
      $4.9 million and foreign currency revaluation gains of $3.6 million. Q4
      2010 EBITDA was $41.7 million, including restructuring charges of $1.0
      million, foreign currency revaluation gains of $3.2 million, and a $7.0
      million gain on the sale of a building (see Table 5).
    </p>
    <p>
      The following table summarizes currency revaluation effects on certain
      financial metrics:
    </p>
<div style="text-align:left">
    <table style="margin-bottom: 10.0px; width: 100%; font-size: 8pt; font-family: Times New Roman" cellspacing="0">
      <tr>
        <td colspan="7">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" colspan="7" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; text-align: left">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Table 4
          </p>
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; text-align: left">
          <p style="margin-bottom: 0px; margin-top: 0px">
            &#160;
          </p>
          <p style="margin-bottom: 0px; margin-top: 0px">
            &#160;
          </p>
          <p style="margin-bottom: 0px; margin-top: 0px">
            &#160;
          </p>
          <p style="margin-bottom: 0px; margin-top: 0px">
            &#160;
          </p>
        </td>
        <td>
          &#160;
        </td>
        <td valign="top" colspan="5" style="padding-left: 0.0px; padding-right: 0.0px; text-align: center; white-space: nowrap">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Income/(loss) attributable
          </p>
          <p style="margin-bottom: 0px; margin-top: 0px">
            to currency revaluation
          </p>
          <p style="margin-bottom: 0px; margin-top: 0px">
            Three Months ended
          </p>
          <p style="margin-bottom: 0px; margin-top: 0px">
            December 31,
          </p>
        </td>
      </tr>
      <tr>
        <td valign="top" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; text-align: left">
          <p style="margin-bottom: 0px; margin-top: 0px">
            (in thousands)
          </p>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" colspan="2" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: center; white-space: nowrap">
          <p style="margin-bottom: 0px; margin-top: 0px">
            2011
          </p>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" colspan="2" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: center; white-space: nowrap">
          <p style="margin-bottom: 0px; margin-top: 0px">
            2010
          </p>
        </td>
      </tr>
      <tr>
        <td valign="middle" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; text-align: left">
          Operating income
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          962
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          427
        </td>
      </tr>
      <tr>
        <td valign="middle" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; text-align: left">
          Other income/expense, net
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          2,649
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          2,755
        </td>
      </tr>
      <tr>
        <td valign="middle" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; text-align: left">
          EBITDA from continuing operations
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          3,611
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          3,182
        </td>
      </tr>
      <tr>
        <td colspan="7">
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <p>
      Total Company capital spending for equipment and software was $8.4
      million for the fourth quarter of 2011, bringing the full-year total to
      $28.7 million, which included $1.2 million for the Albany Doors segment.
      Depreciation and amortization was $16.2 million for the quarter and
      $64.2 for the full year. For 2012, we currently expect approximately $50
      million of capital spending and $65 million of depreciation and
      amortization.
    </p>
    <p>
      <b>CEO Comments</b>
    </p>
    <p>
      CEO and President Joe Morone said, &#8220;Q4 2011 proceeded much as we had
      anticipated in our Q3 earnings release. Seasonal weakness in PMC,
      primarily in the Americas, was offset by good performance in AEC and
      PrimaLoft<sup>&#174;</sup> Products. Meanwhile, the ramp-up of the LEAP
      program intensified, the organizational integration of PMC and EF was
      completed and first steps toward capturing the expected synergies were
      taken, the sale of Albany Door Systems closed shortly after the quarter
      ended, and our plans to use proceeds from the transaction to
      significantly strengthen the balance sheet solidified.
    </p>
    <p>
      &#8220;Sales and EBITDA from continuing operations in Q4 2011 were roughly
      comparable to Q4 2010. But the similarity in aggregate results masks
      sharply different quarters in PMC. During Q4 2010 and Q1 2011, the paper
      industry was restocking, PMC backlogs were growing, and our plants were
      running at unusually high utilization rates. During Q4 2011, the
      opposite occurred. Except in Asia, paper production slowed and PMC
      backlogs declined. And, since backlogs were lower than they had been in
      Q4 2010, our plants ran more slowly in December than they had a year
      earlier, and then shut down entirely during the last week of the year,
      all of which pulled down margins.
    </p>
    <div style="text-indent: 0pt; margin-bottom: 10pt; width: 100%; margin-left: 0pt; margin-right: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>
      &#8220;The slowdown continued into January 2012. But as the month progressed,
      orders strengthened, suggesting that unless we experience a global
      economic slowdown, PMC sales and income should continue to strengthen
      through the course of the year. While it is very unlikely that Q1 2012
      will match the strong performance of Q1 2011 (which, like Q4 2010,
      benefited from high backlogs and inventory restocking), we do expect
      that overall PMC performance in 2012 should be comparable to overall
      performance in 2011.
    </p>
    <p>
      &#8220;Meanwhile, we made good progress during Q4 integrating Engineered
      Fabrics into PMC. We are still targeting $15 million of incremental
      EBITDA by mid-2013 from this integration. The two groups are now fully
      merged, and beginning with our Q1 release, we will no longer report them
      separately. Previously announced closures of an EF corrugator belt
      facility and a PMC forming plant, and the transition of manufacturing to
      other facilities in North America, are well underway. The first is
      scheduled for completion by the end of Q1, the second by the end of Q3.
    </p>
    <p>
      &#8220;AEC performed well in Q4. Sales were up 20 percent over Q4 2010, and
      operating income improved almost $2 million, bringing EBITDA above
      breakeven. We expect sales to grow by at least another 20 percent in
      2012, while income, which will be constrained by significant one-time
      costs associated with aggressive hiring, will likely hold at 2011
      levels. 2012 will be a pivotal year for AEC. As we discussed last
      quarter, the expected size and timing of the LEAP engine market have
      become more definite, and we are planning for a market of at least 1500
      engines per year, with a very fast ramp beginning in mid-decade. Once
      fully ramped, we expect the market to continue through the next decade,
      with multiple opportunities for additions to AEC content. Our ability to
      fully realize this market potential now depends upon how effectively we
      ramp up our manufacturing capability. 2012 will arguably be the most
      important year in this ramp process. Several critical product and
      process design and test milestones will be reached, key elements of the
      supply chain will be put in place, construction of the first LEAP
      composites plant (in Rochester, NH) will commence, with groundbreaking
      on a second plant (to be located in France) following quickly
      thereafter. We are working in collaboration with SAFRAN on all of these
      fronts, the working relationship is very strong, and progress to date is
      encouraging.
    </p>
    <div style="text-indent: 0pt; margin-bottom: 10pt; width: 100%; margin-left: 0pt; margin-right: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>
      &#8220;PrimaLoft<sup>&#174;</sup> Products also had a strong Q4, with
      sales and income well ahead of the comparable period last year. Growth
      was especially strong in sales of insulation for outerwear in Europe.
      More generally, it appears that the normal seasonal pattern for sales in
      this business has shifted, with retailers in North America and Europe
      placing orders for outerwear earlier than in past years, pulling sales
      forward. Order patterns point to another year of strong growth for this
      segment in 2012.
    </p>
    <p>
      &#8220;Finally, plans to use proceeds from the sale of ADS to significantly
      reduce total Company liability are proceeding as anticipated. As
      described in detail in the CFO commentary below, under current market
      conditions these actions, once completed, should reduce our debt and
      pension liability by approximately $110 million, and improve annualized
      pre-tax income by roughly $10 million.
    </p>
    <p>
      &#8220;In sum, performance in Q4 2011 was comparable to Q4 2010, as AEC and
      PrimaLoft<sup>&#174; </sup>Products offset the expected
      end-of-the-quarter slowdown in PMC. Looking ahead, assuming no global
      economic slowdown, we still look for modest improvement in
      year-over-year performance this year, driven primarily by the positive
      impacts of the liability reduction plan; followed by stronger
      year-over-year improvement thereafter, driven initially by synergies
      from the merger of EF and PMC, and then by rapidly increasing
      contributions to EBITDA by AEC. Throughout this period, we expect to
      continue to generate substantial excess cash, as we did in 2011, which
      will provide our Board of Directors the flexibility to consider any
      number of shareholder-friendly initiatives, from investing in future
      growth and further strengthening the balance sheet to increasing
      dividends and repurchasing shares.&#8221;
    </p>
    <div style="text-indent: 0pt; margin-bottom: 10pt; width: 100%; margin-left: 0pt; margin-right: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>
      <b>CFO Comments</b>
    </p>
    <p>
      CFO and Treasurer John Cozzolino commented, &#8220;Strong cash flow from
      operations and the repatriation of cash from non-U.S. accounts during Q4
      contributed to continued reduction in both total and net debt. Comparing
      the balances at the end of Q3 to the balances at the end of Q4, total
      debt declined approximately $15 million, from $390 million to $375
      million, while net debt declined about $10 million, from $266 million to
      $256 million (see Table 8). The Company&#8217;s leverage ratio, as defined in
      our primary debt agreements, was 1.73 at the end of Q4, compared to 1.77
      in Q3 and 2.21 in Q4 2010. Approximately $150 million is available for
      borrowing under the Company&#8217;s credit facility.
    </p>
    <p>
      &#8220;In addition to the solid operating results, the significant drivers of
      net cash flow during Q4 were the improvement in PMC working capital,
      especially inventory, and cash outflows for pension contributions. The
      combination of a focused effort to improve working capital performance
      and lower production in PMC at the end of the year resulted in a
      decrease in inventory of about $20 million as compared to the end of Q3,
      excluding currency effects. Inventory as a percent of net sales dropped
      from 19.2 percent at the end of Q3 to 16.4 percent at the end of Q4.
      Performance related to accounts receivable was steady with days sales
      outstanding remaining unchanged at 60 days. During Q4, the Company
      contributed a total of $20 million to pension plans in the United States
      and Canada as part of our strategy to aggressively strengthen our
      balance sheet.
    </p>
    <p>
      &#8220;In January 2012, the Company completed the $130 million sale of Albany
      Door Systems to ASSA ABLOY AB. After taxes and fees, the Company expects
      to net more than $120 million from the transaction. The Company received
      $117 million from the buyer in January and expects the remaining $13
      million in mid-2013. With the transaction complete, the Company has
      developed a plan to use approximately $70 million of the cash received
      from the sale, as well as about $30 million of cash held outside of the
      U.S., to fund and, in some areas, permanently settle part of our global
      pension liabilities. In addition, approximately $40 million of the
      proceeds from the sale of ADS will be used to pay down outstanding
      borrowings on the Company&#8217;s $390 million credit facility. Our target is
      to have this plan substantially completed by the end of Q2 2012. We
      expect that, upon completion of the plan, global unfunded pension
      liabilities will drop from around $100 million to $30 million. While
      actual requirements will be affected by future interest rates and
      investment performance, under current market conditions required cash
      contributions to all defined benefit pension plans should drop from
      around $20 million per year to approximately $3 million per year;
      pension expense associated with these plans should decline from about
      $13 million per year to approximately $4 million per year. Income tax
      deductions generated by the cash contributions are expected to reduce
      future cash taxes by approximately $25 million.
    </p>
    <div style="text-indent: 0pt; margin-bottom: 10pt; width: 100%; margin-left: 0pt; margin-right: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>
      &#8220;Along with the financial effects noted above, the full execution of
      this strategy will impact the income statement, mostly in Q2 2012, with
      a significant pension settlement charge that could be as high as $130
      million,<b> </b>primarily due to the recognition of net actuarial losses
      that until now have been reflected on the balance sheet as deferred
      charges reported in Shareholders&#8217; Equity.
    </p>
    <p>
      &#8220;Income tax expense during the quarter included several large non-cash
      items, unrelated to our ongoing tax rate, the most significant of which
      is a valuation allowance for deferred tax assets in Germany. This
      reserve was recorded as a result of the sale of ADS, which had
      significant operations in Germany, and the fact that future income in
      Germany will now be significantly lower because of the sale of this
      business. The Company&#8217;s 2011 income tax rate, exclusive of income tax
      adjustments, was 34 percent, and is expected to remain in the mid-30
      percent range in 2012. Including the utilization of net operating loss
      carry-forwards and other deferred tax assets, cash paid for income taxes
      in 2011 was approximately $16 million, and is expected to total $10 to
      $15 million in 2012.&#8221;
    </p>
    <p>
      The Company plans a webcast to discuss fourth-quarter 2011 financial
      results on Thursday, February 9, 2012, at 9:00 a.m. Eastern Time. For
      access, go to <u>www.albint.com</u>.
    </p>
    <p>
      Albany International Corp. (NYSE:AIN) is a global advanced textiles and
      materials processing company. Its core business is the world&#8217;s leading
      producer of custom-designed fabrics and belts essential to the
      production of paper and paperboard. Albany&#8217;s growth businesses extends
      its advanced textiles and materials capabilities into a variety of other
      industries, most notably aerospace composites, nonwovens, building
      products, and high-performance insulation and yarn. Additional
      information about the Company and its businesses and products is
      available at <u>www.albint.com</u>.
    </p>
    <div style="text-indent: 0pt; margin-bottom: 10pt; width: 100%; margin-left: 0pt; margin-right: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>
      <i>This release contains certain items, such as earnings before
      interest, taxes, depreciation and amortization (EBITDA), EBITDA
      excluding restructuring charges,</i> <i>currency effects, and building
      sale gains, sales excluding currency effects, effective income tax rate
      exclusive of income tax adjustments, net debt, and certain income and
      expense items on a per share basis, that could be considered non-GAAP
      financial measures. Such items are provided because management believes
      that, when presented together with the GAAP items to which they relate,
      they provide additional useful information to investors regarding the
      Company&#8217;s operational performance. Presenting increases or decreases in
      sales, after currency effects are excluded, can give management and
      investors insight into underlying sales trends. An understanding of the
      impact in a particular quarter of specific restructuring costs, or gains
      and losses such as the gain in Q4 2010 from the sale of a building, on
      operating income or EBITDA can give management and investors additional
      insight into quarterly performance, especially when compared to quarters
      in which such items had a greater or lesser effect, or no effect.</i>
    </p>
    <p>
      <i>The effect of changes in currency translation rates is calculated by
      converting amounts reported in local currencies into U.S. dollars at the
      exchange rate of a prior period. That amount is then compared to the
      U.S. dollar amount reported in the current period. The Company
      calculates Income tax adjustments by adding discrete tax items to the
      effect of a change in tax rate for the reporting period. The Company
      calculates its effective income tax rate, exclusive of income tax
      adjustments, by removing income tax adjustments from total Income tax
      expense, then dividing that result by Income before tax. The Company
      calculates EBITDA by adding Interest expense net, Income taxes,
      Depreciation and Amortization to Net income. EBITDA excluding
      restructuring charges, foreign currency effects, and building sale gains
      is calculated by adding to EBITDA, costs associated with restructuring,
      and then adding or subtracting revaluation losses or gains and
      subtracting building share gains. The Company believes that EBITDA and
      EBITDA excluding the effect of such items provide useful information to
      investors because they provide an indication of the strength and
      performance of the Company's ongoing business operations, including its
      ability to fund discretionary spending such as capital expenditures and
      strategic investments, as well as its ability to incur and service debt.
      While depreciation and amortization are operating costs under GAAP, they
      are non-cash expenses equal to current period allocation of costs
      associated with capital and other long-lived investments made in prior
      periods. While restructuring expenses, foreign currency revaluation
      losses or gains, and building sale gains have an impact on the Company's
      net income, removing them from EBITDA can provide, in the opinion of the
      Company, a better measure of operating performance. EBITDA is also a
      calculation commonly used by investors and analysts to evaluate and
      compare the periodic and future operating performance and value of
      companies. EBITDA, as defined by the Company, may not be similar to
      EBITDA measures of other companies. Such EBITDA measures may not be
      considered measurements under GAAP, and should be considered in addition
      to, but not as substitutes for, the information contained in the
      Company&#8217;s statements of operations.</i>
    </p>
    <div style="text-indent: 0pt; margin-bottom: 10pt; width: 100%; margin-left: 0pt; margin-right: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>
      <i>The following table contains the calculation of EBITDA from
      continuing operations and EBITDA (from Continuing Operations and Total
      Company) excluding restructuring charges, foreign currency revaluation
      effects, and building sale gains:</i>
    </p>
<div style="text-align:left">
    <table style="margin-bottom: 10.0px; width: 100%; font-size: 8pt; font-family: Times New Roman" cellspacing="0">
      <tr>
        <td colspan="9">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; text-align: left">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Table 5
          </p>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="7" style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; text-align: left">
          <p style="margin-bottom: 0px; margin-top: 0px">
            &#160;
          </p>
        </td>
        <td>
          &#160;
        </td>
        <td valign="top" colspan="7" style="padding-left: 0.0px; padding-right: 0.0px; text-align: center; white-space: nowrap">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Three Months ended
          </p>
          <p style="margin-bottom: 0px; margin-top: 0px">
            December 31,
          </p>
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; text-align: left">
          <p style="margin-bottom: 0px; margin-top: 0px">
            (in thousands)
          </p>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" colspan="3" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: center; white-space: nowrap">
          <p style="margin-bottom: 0px; margin-top: 0px">
            2011
          </p>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" colspan="3" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: center; white-space: nowrap">
          <p style="margin-bottom: 0px; margin-top: 0px">
            2010
          </p>
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; text-align: left">
          (Loss)/income from continuing operations
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          ($8,475
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: left; white-space: nowrap">
          )
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          17,591
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; text-align: left">
          Interest expense, net
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          4,182
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          4,700
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; text-align: left">
          Income tax expense
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          19,118
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          3,848
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; text-align: left">
          Depreciation and amortization
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          16,183
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          15,520
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; text-align: left">
          <b>EBITDA from continuing operations</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          <b>31,008</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          <b>41,659</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; text-align: left">
          Restructuring and other, net
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          4,861
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          1,049
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; text-align: left">
          Foreign currency revaluation (gains) losses
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          (3,611
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: left; white-space: nowrap">
          )
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          (3,182
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: left; white-space: nowrap">
          )
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; text-align: left">
          (Gain) on sale of building
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          -
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          (6,950
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: left; white-space: nowrap">
          )
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; text-align: left">
          <b>EBITDA from continuing operations, excluding restructuring
          charges, foreign currency revaluation effects, and gain on sale of
          building</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          <b>$</b>
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          <b>32,258</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          <b>$</b>
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          <b>32,576</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; text-align: left">
          Income from operations of discontinued business (before tax)
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          5,437
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          4,516
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; text-align: left">
          Depreciation and amortization of discontinued operations
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          519
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          536
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; text-align: left">
          Restructuring charges/(credits) of discontinued operations
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          63
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          (222
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: left; white-space: nowrap">
          )
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; text-align: left">
          Revaluation (gains)/losses of discontinued operations
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          (108
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: left; white-space: nowrap">
          )
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          138
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; text-align: left">
          Expenses incurred related to sale of discontinued operations
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          600
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          -
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; text-align: left">
          <b>Total Company EBITDA, excluding restructuring charges, foreign
          currency revaluation effects, and gain on sale of building</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          <b>$</b>
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          <b>38,769</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          <b>$</b>
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          <b>37,544</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="9">
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <p>
      <i>The Company discloses certain income and expense items on a per share
      basis. The Company believes that such disclosures provide important
      insight into underlying quarterly earnings and are financial performance
      metrics commonly used by investors. The Company calculates the per share
      amount for items included in continuing operations by using the
      effective tax rate utilized during the applicable reporting period and
      the weighted average number of shares outstanding for the period.</i>
    </p>
<div style="text-align:left">
    <table style="margin-bottom: 10.0px; width: 100%; font-size: 8pt; font-family: Times New Roman" cellspacing="0">
      <tr>
        <td colspan="15">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" colspan="15" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: left; white-space: nowrap">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Table 6
          </p>
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>Quarter ended December 31, 2011</b>
          </p>
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; text-align: left">
          (in thousands, except per share amounts)
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" colspan="2" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: center; white-space: nowrap">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Pre-tax<br>amounts
          </p>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" colspan="2" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: center; white-space: nowrap">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Tax Effect
          </p>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" colspan="2" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: center; white-space: nowrap">
          <p style="margin-bottom: 0px; margin-top: 0px">
            After-tax<br>Effect
          </p>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: center; white-space: nowrap">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Shares<br>Outstanding
          </p>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" colspan="2" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: center; white-space: nowrap">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Per Share<br>Effect
          </p>
        </td>
      </tr>
      <tr>
        <td valign="middle" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; text-align: left">
          Restructuring and other, net from continuing operations
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          4,861
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          1,643
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          3,218
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          31,283
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          0.10
        </td>
      </tr>
      <tr>
        <td valign="middle" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; text-align: left">
          Foreign currency revaluation gains from continuing operations
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          3,611
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          1,221
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          2,390
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          31,283
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          0.08
        </td>
      </tr>
      <tr>
        <td valign="middle" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; text-align: left">
          Income tax adjustments from continuing operations
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          -
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          15,502
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          15,502
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          31,283
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          0.50
        </td>
      </tr>
      <tr>
        <td valign="middle" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; text-align: left">
          Income tax adjustments from discontinued operations
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          -
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          2,647
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          2,647
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          31,283
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          0.08
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td>
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td>
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td>
          &#160;
        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td valign="top" colspan="15" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: left; white-space: nowrap">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Table 7
          </p>
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>Quarter ended December 31, 2010</b>
          </p>
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; text-align: left">
          (in thousands, except per share amounts)
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" colspan="2" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: center; white-space: nowrap">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Pre-tax<br>amounts
          </p>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" colspan="2" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: center; white-space: nowrap">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Tax Effect
          </p>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" colspan="2" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: center; white-space: nowrap">
          <p style="margin-bottom: 0px; margin-top: 0px">
            After-tax<br>Effect
          </p>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: center; white-space: nowrap">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Shares<br>Outstanding
          </p>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" colspan="2" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: center; white-space: nowrap">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Per Share<br>Effect
          </p>
        </td>
      </tr>
      <tr>
        <td valign="middle" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; text-align: left">
          Restructuring and other, net from continuing operations
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          1,049
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          323
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          726
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          31,166
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          0.02
        </td>
      </tr>
      <tr>
        <td valign="middle" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; text-align: left">
          Foreign currency revaluation gains from continuing operations
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          3,182
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          980
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          2,202
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          31,166
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          0.07
        </td>
      </tr>
      <tr>
        <td valign="middle" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; text-align: left">
          Gain on sale of building from continuing operations
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          6,950
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          2,141
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          4,809
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          31,166
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          0.15
        </td>
      </tr>
      <tr>
        <td valign="middle" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; text-align: left">
          Income tax adjustments from continuing operations
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          -
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          2,804
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          2,804
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          31,166
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          0.09
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <div style="text-indent: 0pt; margin-bottom: 10pt; width: 100%; margin-left: 0pt; margin-right: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>
      <i>The Company defines net debt as total debt minus cash. Management
      views net debt, a non-GAAP financial measure, as a measure of the
      Company's ability to reduce debt, add to cash balances, pay dividends,
      repurchase stock, and fund investing and financing activities.&#160;A
      reconciliation of&#160;total debt to net debt as of&#160;September 30, 2011;
      December 31, 2011; and December 31, 2010, is shown below:</i>
    </p>
    <p>
      <i>The following table contains the calculation of net debt:</i>
    </p>
<div style="text-align:left">
    <table style="margin-bottom: 10.0px; width: 100%; font-size: 8pt; font-family: Times New Roman" cellspacing="0">
      <tr>
        <td colspan="10">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" colspan="10" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; text-align: left">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Table 8
          </p>
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; text-align: left">
          (in thousands)
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="middle" colspan="2" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: center; white-space: nowrap">
          <p style="margin-bottom: 0px; margin-top: 0px">
            December 31,<br>2011
          </p>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="middle" colspan="2" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: center; white-space: nowrap">
          <p style="margin-bottom: 0px; margin-top: 0px">
            September 30,<br>2011
          </p>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="middle" colspan="2" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: center; white-space: nowrap">
          <p style="margin-bottom: 0px; margin-top: 0px">
            December 31,<br>2010
          </p>
        </td>
      </tr>
      <tr>
        <td valign="middle" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; text-align: left">
          Notes and loans payable
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          424
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          901
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          1,587
        </td>
      </tr>
      <tr>
        <td valign="middle" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; text-align: left">
          Current maturities of long-term debt
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          1,263
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          13
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          12
        </td>
      </tr>
      <tr>
        <td valign="middle" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; text-align: left">
          Long-term debt
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          373,125
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          389,197
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          423,634
        </td>
      </tr>
      <tr>
        <td valign="middle" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; text-align: left">
          <b>Total debt</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          <b>374,812</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          <b>390,111</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          <b>425,233</b>
        </td>
      </tr>
      <tr>
        <td valign="middle" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; text-align: left">
          Cash
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          118,909
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          124,130
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          117,925
        </td>
      </tr>
      <tr>
        <td valign="middle" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; text-align: left">
          <b>Net debt</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          <b>$</b>
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          <b>255,903</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          <b>$</b>
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          <b>265,981</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          <b>$</b>
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          <b>307,308</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
      </tr>
    </table>
    </div>
    <p>
      <i>This press release may contain statements, estimates, or projections
      that constitute &#8220;forward-looking statements&#8221; as defined under U.S.
      federal securities laws. Generally, the words &#8220;believe,&#8221; &#8220;expect,&#8221;
      &#8220;intend,&#8221; &#8220;estimate,&#8221; &#8220;anticipate,&#8221; &#8220;project,&#8221; &#8220;will,&#8221; &#8220;should&#8221; and
      similar expressions identify forward-looking statements, which generally
      are not historical in nature. Forward-looking statements are subject to
      certain risks and uncertainties (including, without limitation, those
      set forth in the Company&#8217;s most recent Annual Report on Form 10-K or
      Quarterly Report on Form 10-Q) that could cause actual results to differ</i>
      <i>materially from the Company&#8217;s historical experience and our present
      expectations or projections.</i>
    </p>
    <div style="text-indent: 0pt; margin-bottom: 10pt; width: 100%; margin-left: 0pt; margin-right: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>
      <i>Forward-looking statements in this release or in the webcast include,
      without limitation, statements about future economic and paper industry
      conditions; sales, EBITDA and operating income expectations during the
      next several quarters in each of the Company&#8217;s businesses, anticipated
      improvements in and sustainability of cash generation, revenue growth
      and income expectations for the Company&#8217;s non-PMC businesses; the timing
      and impact of certain</i> <i>production and development programs in the
      Company&#8217;s AEC business segment; the amount and timing of capital
      expenditures, future tax rates and cash paid for taxes, depreciation and
      amortization, future debt levels and debt covenant ratios, future
      revaluation gains and losses, balance sheet and income statement impact
      of the proposed pension settlement plans, and future levels of EBITDA.
      Furthermore, a change in any one or more of the foregoing factors could
      have a material effect on the Company&#8217;s financial results in any period.
      Such statements are based on current expectations, and the Company
      undertakes no obligation to publicly update or revise any
      forward-looking statements.</i>
    </p>
    <p>
      <i>Statements expressing management&#8217;s assessments of the growth
      potential of various businesses, or referring to earlier assessments of
      such potential, are not intended as forecasts of actual future growth,
      and should not be relied on as such. While management believes such
      assessments to have a reasonable basis, such assessments are, by their
      nature, inherently uncertain. This release and earlier releases set
      forth a number of assumptions regarding these assessments, including
      historical results, independent forecasts regarding the markets in which
      these businesses operate, and the timing and magnitude of orders for our
      customers&#8217; products. Historical growth rates are no guarantee of future
      growth, and such independent forecasts and assumptions could prove
      materially incorrect, in some cases.</i>
    </p>
    <div style="text-indent: 0pt; margin-bottom: 10pt; width: 100%; margin-left: 0pt; margin-right: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
<div style="text-align:left">
    <table style="margin-bottom: 10.0px; width: 100%; font-size: 8pt; font-family: Times New Roman" cellspacing="0">
      <tr>
        <td colspan="15">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" colspan="15" style="padding-left: 0.0px; padding-right: 0.0px; text-align: center; white-space: nowrap">
          ALBANY INTERNATIONAL CORP.
        </td>
      </tr>
      <tr>
        <td valign="top" colspan="15" style="padding-left: 0.0px; padding-right: 0.0px; text-align: center; white-space: nowrap">
          CONSOLIDATED STATEMENTS OF INCOME
        </td>
      </tr>
      <tr>
        <td valign="top" colspan="15" style="padding-left: 0.0px; padding-right: 0.0px; text-align: center; white-space: nowrap">
          (in thousands, except per share data)
        </td>
      </tr>
      <tr>
        <td valign="top" colspan="15" style="padding-left: 0.0px; padding-right: 0.0px; text-align: center; white-space: nowrap">
          (unaudited)
        </td>
      </tr>
      <tr>
        <td colspan="2">

        </td>
        <td>
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td>
          &#160;
        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td valign="top" colspan="5" style="padding-left: 0.0px; padding-right: 0.0px; text-align: center; white-space: nowrap">
          Three Months Ended
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="top" colspan="5" style="padding-left: 0.0px; padding-right: 0.0px; text-align: center; white-space: nowrap">
          Twelve Months Ended
        </td>
      </tr>
      <tr>
        <td valign="top" colspan="5" style="padding-left: 0.0px; padding-right: 0.0px; text-align: center; white-space: nowrap">
          December 31,
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="top" colspan="5" style="padding-left: 0.0px; padding-right: 0.0px; text-align: center; white-space: nowrap">
          December 31,
        </td>
      </tr>
      <tr>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" colspan="2" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: center; white-space: nowrap">
          2011
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: center; white-space: nowrap">
          2010
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: center; white-space: nowrap">
          2011
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: center; white-space: nowrap">
          2010
        </td>
      </tr>
      <tr>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          $202,617
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          $199,826
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left">
          Net sales
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          $814,696
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          $765,769
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          122,515
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          119,244
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left; padding-bottom: 2.0px">
          Cost of goods sold
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          485,735
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          471,006
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          80,102
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          80,582
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left">
          Gross profit
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          328,961
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          294,763
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          47,791
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          40,519
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="top" style="padding-left: 15.0px; text-align: left">
          Selling, general, and administrative expenses
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          179,804
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          165,528
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          14,925
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          14,165
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="top" style="padding-left: 15.0px; text-align: left">
          Technical, product engineering, and research expenses
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          56,767
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          54,203
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          4,861
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          1,049
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="top" style="padding-left: 15.0px; text-align: left; padding-bottom: 2.0px">
          Restructuring and other, net
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          9,317
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          3,747
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          12,525
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          24,849
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left">
          Operating income
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          83,073
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          71,285
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          4,182
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          4,700
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="top" style="padding-left: 15.0px; text-align: left">
          Interest expense, net
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          18,121
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          17,240
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          (2,291
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: left; white-space: nowrap">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          (1,313
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: left; white-space: nowrap">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="top" style="padding-left: 15.0px; text-align: left; padding-bottom: 2.0px">
          Other (income)/expense, net
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          2,720
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          (884
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: left; white-space: nowrap">
          )
        </td>
      </tr>
      <tr>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          10,634
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          21,462
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left">
          Income before income taxes
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          62,232
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          54,929
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          19,118
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          3,848
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="top" style="padding-left: 15.0px; text-align: left; padding-bottom: 2.0px">
          Income tax expense
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          35,779
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          23,545
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          (8,484
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: left; white-space: nowrap">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          17,614
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left">
          (Loss)/income before equity in earnings/(losses) of associated
          companies
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          26,453
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          31,384
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          9
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          (23
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: left; white-space: nowrap">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="top" style="padding-left: 10.0px; text-align: left; padding-bottom: 2.0px">
          Equity in earnings/(losses) of associated companies
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          (879
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: left; white-space: nowrap">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          29
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          (8,475
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: left; white-space: nowrap">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          17,591
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left">
          (Loss)/income from continuing operations
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          25,574
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          31,413
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          5,437
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          4,516
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="top" style="padding-left: 15.0px; text-align: left">
          Income from operations of discontinued business
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          16,596
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          9,560
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          4,193
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          1,573
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="top" style="padding-left: 15.0px; text-align: left; padding-bottom: 2.0px">
          Income tax expense
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          7,232
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          3,337
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          1,244
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          2,943
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left; padding-bottom: 2.0px">
          Income from discontinued operations
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          9,364
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          6,223
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="border-bottom: double black 2.25pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          (7,231
        </td>
        <td valign="bottom" style="border-bottom: double black 2.25pt; padding-left: 0.0px; padding-right: 0.0px; text-align: left; white-space: nowrap">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom: double black 2.25pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          20,534
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left; padding-bottom: 4.0px">
          Net (loss)/income
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom: double black 2.25pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          34,938
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom: double black 2.25pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          37,636
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left">
          Earnings per share - Basic
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          ($0.27
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: left; white-space: nowrap">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          $0.56
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left">
          (Loss)/income from continuing operations
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          $0.82
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          $1.01
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          0.04
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          0.10
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left; padding-bottom: 2.0px">
          Discontinued operations
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          0.30
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          0.20
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="border-bottom: double black 2.25pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          ($0.23
        </td>
        <td valign="bottom" style="border-bottom: double black 2.25pt; padding-left: 0.0px; padding-right: 0.0px; text-align: left; white-space: nowrap">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom: double black 2.25pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          $0.66
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left; padding-bottom: 4.0px">
          Net (loss)/income
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom: double black 2.25pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          $1.12
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom: double black 2.25pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          $1.21
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left">
          Earnings per share - Diluted
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          ($0.27
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: left; white-space: nowrap">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          $0.56
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left">
          (Loss)/income from continuing operations
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          $0.81
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          $1.01
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          0.04
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          0.10
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left; padding-bottom: 2.0px">
          Discontinued operations
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          0.30
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          0.20
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="border-bottom: double black 2.25pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          ($0.23
        </td>
        <td valign="bottom" style="border-bottom: double black 2.25pt; padding-left: 0.0px; padding-right: 0.0px; text-align: left; white-space: nowrap">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom: double black 2.25pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          $0.66
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left; padding-bottom: 4.0px">
          Net (loss)/income
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom: double black 2.25pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          $1.11
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom: double black 2.25pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          $1.21
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left">
          Shares used in computing earnings per share:
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          31,283
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          31,166
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="top" style="padding-left: 10.0px; text-align: left">
          Basic
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          31,262
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          31,072
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          31,283
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          31,327
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="top" style="padding-left: 10.0px; text-align: left">
          Diluted
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          31,510
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          31,209
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          $0.13
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          $0.12
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left">
          Dividends per share
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          $0.51
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          $0.48
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td colspan="15">
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <div style="text-indent: 0pt; margin-bottom: 10pt; width: 100%; margin-left: 0pt; margin-right: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
<div style="text-align:left">
    <table style="margin-bottom: 10.0px; width: 100%; font-size: 8pt; font-family: Times New Roman" cellspacing="0">
      <tr>
        <td colspan="7">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" colspan="7" style="padding-left: 0.0px; padding-right: 0.0px; text-align: center; white-space: nowrap">
          ALBANY INTERNATIONAL CORP.
        </td>
      </tr>
      <tr>
        <td valign="top" colspan="7" style="padding-left: 0.0px; padding-right: 0.0px; text-align: center; white-space: nowrap">
          CONSOLIDATED BALANCE SHEETS
        </td>
      </tr>
      <tr>
        <td valign="top" colspan="7" style="padding-left: 0.0px; padding-right: 0.0px; text-align: center; white-space: nowrap">
          (in thousands, except share and per share data)
        </td>
      </tr>
      <tr>
        <td valign="top" colspan="7" style="padding-left: 0.0px; padding-right: 0.0px; text-align: center; white-space: nowrap">
          (unaudited)
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td>
          &#160;
        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td valign="top" colspan="2" style="padding-left: 0.0px; padding-right: 0.0px; text-align: center; white-space: nowrap">
          December 31,
        </td>
        <td>

        </td>
        <td valign="top" colspan="2" style="padding-left: 0.0px; padding-right: 0.0px; text-align: center; white-space: nowrap">
          December 31,
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: center; white-space: nowrap">
          2011
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: center; white-space: nowrap">
          2010
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; text-align: left">
          ASSETS
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 10.0px; text-align: left">
          Cash and cash equivalents
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          $118,909
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          $117,925
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 10.0px; text-align: left">
          Accounts receivable, net
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          148,849
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          148,514
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 10.0px; text-align: left">
          Inventories
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          133,649
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          143,557
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 10.0px; text-align: left">
          Income taxes receivable and deferred
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          30,010
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          39,580
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 10.0px; text-align: left">
          Prepaid expenses and other current assets
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          13,410
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          11,634
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 10.0px; text-align: left; padding-bottom: 2.0px">
          Current assets of discontinued operations
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          62,106
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          45,582
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 30.0px; text-align: left">
          Total current assets
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          506,934
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          506,792
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 10.0px; text-align: left">
          Property, plant and equipment, net
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          439,516
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          481,952
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 10.0px; text-align: left">
          Investments in associated companies
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          879
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          858
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 10.0px; text-align: left">
          Intangibles
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          1,079
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          1,578
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 10.0px; text-align: left">
          Goodwill
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          75,469
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          77,196
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 10.0px; text-align: left">
          Deferred taxes
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          134,644
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          139,955
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 10.0px; text-align: left">
          Other assets
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          22,504
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          18,103
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 10.0px; text-align: left; padding-bottom: 2.0px">
          Noncurrent assets of discontinued operations
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          49,904
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          51,859
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 30.0px; text-align: left; padding-bottom: 4.0px">
          Total assets
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom: double black 2.25pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          $1,230,929
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom: double black 2.25pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          $1,278,293
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; text-align: right">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; text-align: left">
          LIABILITIES AND SHAREHOLDERS' EQUITY
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 10.0px; text-align: left">
          Notes and loans payable
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          $424
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          $1,587
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 10.0px; text-align: left">
          Accounts payable
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          33,663
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          35,802
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 10.0px; text-align: left">
          Accrued liabilities
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          105,649
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          99,664
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 10.0px; text-align: left">
          Current maturities of long-term debt
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          1,263
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          12
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 10.0px; text-align: left">
          Income taxes payable and deferred
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          8,766
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          9,288
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 10.0px; text-align: left; padding-bottom: 2.0px">
          Current liabilities of discontinued operations
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          20,946
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          19,503
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 30.0px; text-align: left">
          Total current liabilities
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          170,711
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          165,855
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 10.0px; text-align: left">
          Long-term debt
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          373,125
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          423,634
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 10.0px; text-align: left">
          Other noncurrent liabilities
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          185,648
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          181,769
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 10.0px; text-align: left">
          Deferred taxes and other credits
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          71,529
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          68,590
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 10.0px; text-align: left; padding-bottom: 2.0px">
          Noncurrent liabilities of discontinued operations
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          14,065
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          12,185
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 30.0px; text-align: left; padding-bottom: 2.0px">
          Total liabilities
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          815,078
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          852,033
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; text-align: left">
          Commitments and Contingencies
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          -
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          -
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; text-align: left">
          SHAREHOLDERS' EQUITY
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 10.0px; text-align: left">
          Preferred stock, par value $5.00 per share;
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 20.0px; text-align: left">
          authorized 2,000,000 shares; none issued
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          -
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          -
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 10.0px; text-align: left">
          Class A Common Stock, par value $.001 per share;
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 20.0px; text-align: left">
          authorized 100,000,000 shares; issued
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 20.0px; text-align: left">
          36,540,842 in 2011 and 36,442,209 in 2010
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          37
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          36
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 10.0px; text-align: left">
          Class B Common Stock, par value $.001 per share;
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 20.0px; text-align: left">
          authorized 25,000,000 shares; issued and
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 20.0px; text-align: left">
          outstanding 3,236,098 in 2011 and 2010
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          3
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          3
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 10.0px; text-align: left">
          Additional paid in capital
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          391,495
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          387,876
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 10.0px; text-align: left">
          Retained earnings
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          422,044
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          403,048
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 10.0px; text-align: left">
          Accumulated items of other comprehensive income:
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 20.0px; text-align: left">
          Translation adjustments
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          (19,111
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: left; white-space: nowrap">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          (6,041
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: left; white-space: nowrap">
          )
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 20.0px; text-align: left">
          Pension and post retirement liability adjustments
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          (118,104
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: left; white-space: nowrap">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          (100,355
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: left; white-space: nowrap">
          )
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 20.0px; text-align: left">
          Derivative valuation adjustment
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          (2,593
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: left; white-space: nowrap">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          (276
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: left; white-space: nowrap">
          )
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 10.0px; text-align: left">
          Treasury stock (Class A), at cost 8,479,487 shares
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 20.0px; text-align: left; padding-bottom: 2.0px">
          in 2011 and 8,484,528 shares in 2010
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          (257,920
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: left; white-space: nowrap">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          (258,031
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: left; white-space: nowrap">
          )
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 30.0px; text-align: left; padding-bottom: 2.0px">
          Total shareholders' equity
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          415,851
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          426,260
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 30.0px; text-align: left; padding-bottom: 4.0px">
          Total liabilities and shareholders' equity
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom: double black 2.25pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          $1,230,929
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom: double black 2.25pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          $1,278,293
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="7">
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <div style="text-indent: 0pt; margin-bottom: 10pt; width: 100%; margin-left: 0pt; margin-right: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
<div style="text-align:left">
    <table style="margin-bottom: 10.0px; width: 100%; font-size: 8pt; font-family: Times New Roman" cellspacing="0">
      <tr>
        <td colspan="15">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" colspan="15" style="padding-left: 0.0px; padding-right: 0.0px; text-align: center; white-space: nowrap">
          ALBANY INTERNATIONAL CORP.
        </td>
      </tr>
      <tr>
        <td valign="top" colspan="15" style="padding-left: 0.0px; padding-right: 0.0px; text-align: center; white-space: nowrap">
          CONSOLIDATED STATEMENTS OF CASH FLOWS
        </td>
      </tr>
      <tr>
        <td valign="top" colspan="15" style="padding-left: 0.0px; padding-right: 0.0px; text-align: center; white-space: nowrap">
          (in thousands)
        </td>
      </tr>
      <tr>
        <td valign="top" colspan="15" style="padding-left: 0.0px; padding-right: 0.0px; text-align: center; white-space: nowrap">
          (unaudited)
        </td>
      </tr>
      <tr>
        <td colspan="15">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" colspan="5" style="padding-left: 0.0px; padding-right: 0.0px; text-align: center; white-space: nowrap">
          Three Months Ended
        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td valign="top" colspan="5" style="padding-left: 0.0px; padding-right: 0.0px; text-align: center; white-space: nowrap">
          Twelve Months Ended
        </td>
      </tr>
      <tr>
        <td valign="top" colspan="5" style="padding-left: 0.0px; padding-right: 0.0px; text-align: center; white-space: nowrap">
          December 31,
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="top" colspan="5" style="padding-left: 0.0px; padding-right: 0.0px; text-align: center; white-space: nowrap">
          December 31,
        </td>
      </tr>
      <tr>
        <td colspan="2">

        </td>
        <td>
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>
          &#160;
        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td valign="bottom" colspan="2" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: center; white-space: nowrap">
          2011
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: center; white-space: nowrap">
          2010
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: center; white-space: nowrap">
          2011
        </td>
        <td>

        </td>
        <td valign="bottom" colspan="2" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: center; white-space: nowrap">
          2010
        </td>
      </tr>
      <tr>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left">
          OPERATING ACTIVITIES
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          ($7,231
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: left; white-space: nowrap">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          $20,534
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left">
          Net (loss)/income
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          $34,938
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          $37,636
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left">
          Adjustments to reconcile net (loss)/income to net cash provided by
          operating activities:
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          (811
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: left; white-space: nowrap">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          (2
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: left; white-space: nowrap">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="top" style="padding-left: 30.0px; text-align: left">
          Equity in (earnings) of associated companies
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          (400
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: left; white-space: nowrap">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          (60
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: left; white-space: nowrap">
          )
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          14,569
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          13,993
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="top" style="padding-left: 30.0px; text-align: left">
          Depreciation
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          57,502
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          54,447
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          2,133
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          2,063
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="top" style="padding-left: 30.0px; text-align: left">
          Amortization
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          8,883
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          8,549
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          188
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          188
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="top" style="padding-left: 30.0px; text-align: left">
          Noncash interest expense
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          753
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          753
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          7,535
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          4,735
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="top" style="padding-left: 30.0px; text-align: left">
          Provision for deferred income taxes, other credits and long-term
          liabilities
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          (3,510
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: left; white-space: nowrap">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          13,125
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          2,241
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          1,421
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="top" style="padding-left: 30.0px; text-align: left">
          Provision for write-off of property, plant and equipment
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          2,345
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          4,630
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          -
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          (6,950
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: left; white-space: nowrap">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="top" style="padding-left: 30.0px; text-align: left">
          (Gain) on disposition of assets
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          (1,022
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: left; white-space: nowrap">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          (9,404
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: left; white-space: nowrap">
          )
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          (40
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: left; white-space: nowrap">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          (438
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: left; white-space: nowrap">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="top" style="padding-left: 30.0px; text-align: left">
          Excess tax benefit of options exercised
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          (93
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: left; white-space: nowrap">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          (450
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: left; white-space: nowrap">
          )
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          843
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          97
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="top" style="padding-left: 30.0px; text-align: left">
          Compensation and benefits paid or payable in Class A Common Stock
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          2,812
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          4,896
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left">
          Changes in operating assets and liabilities, net of business
          acquisitions and divestitures:
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          (1,896
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: left; white-space: nowrap">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          (1,382
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: left; white-space: nowrap">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="top" style="padding-left: 30.0px; text-align: left">
          Accounts receivable
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          (12,082
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: left; white-space: nowrap">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          (9,509
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: left; white-space: nowrap">
          )
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          20,355
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          1,995
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="top" style="padding-left: 30.0px; text-align: left">
          Inventories
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          7,105
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          16,639
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          2,506
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          4,285
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="top" style="padding-left: 30.0px; text-align: left">
          Prepaid expenses and other current assets
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          314
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          (1,034
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: left; white-space: nowrap">
          )
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          (2,682
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: left; white-space: nowrap">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          415
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="top" style="padding-left: 30.0px; text-align: left">
          Accounts payable
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          (1,677
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: left; white-space: nowrap">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          (7,700
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: left; white-space: nowrap">
          )
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          988
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          (15,570
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: left; white-space: nowrap">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="top" style="padding-left: 30.0px; text-align: left">
          Accrued liabilities
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          6,124
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          (16,776
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: left; white-space: nowrap">
          )
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          (8,175
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: left; white-space: nowrap">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          1,119
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="top" style="padding-left: 30.0px; text-align: left">
          Income taxes payable
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          2,422
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          1,009
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          444
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          2,934
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="top" style="padding-left: 30.0px; text-align: left; padding-bottom: 2.0px">
          Other, net
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          855
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          2,821
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          30,967
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          29,437
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="top" style="padding-left: 30.0px; text-align: left; padding-bottom: 2.0px">
          Net cash provided by operating activities
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          105,269
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          99,572
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left">
          INVESTING ACTIVITIES
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          (6,833
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: left; white-space: nowrap">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          (9,390
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: left; white-space: nowrap">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="top" style="padding-left: 30.0px; text-align: left">
          Purchases of property, plant and equipment
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          (24,988
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: left; white-space: nowrap">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          (27,334
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: left; white-space: nowrap">
          )
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          (1,594
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: left; white-space: nowrap">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          (1,667
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: left; white-space: nowrap">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="top" style="padding-left: 30.0px; text-align: left">
          Purchased software
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          (3,692
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: left; white-space: nowrap">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          (4,257
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: left; white-space: nowrap">
          )
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          -
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          9,047
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="top" style="padding-left: 30.0px; text-align: left">
          Proceeds from sale of assets
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          2,860
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          12,256
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          -
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          -
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="top" style="padding-left: 30.0px; text-align: left">
          Acquisitions, net of cash acquired
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          -
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          (1,902
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: left; white-space: nowrap">
          )
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          -
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          -
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="top" style="padding-left: 30.0px; text-align: left; padding-bottom: 2.0px">
          Cash received from life insurance policy terminations
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          -
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          49,302
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          (8,427
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: left; white-space: nowrap">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          (2,010
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: left; white-space: nowrap">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="top" style="padding-left: 30.0px; text-align: left; padding-bottom: 2.0px">
          Net cash (used in)/provided by investing activities
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          (25,820
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: left; white-space: nowrap">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          28,065
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left">
          FINANCING ACTIVITIES
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          6,001
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          10,984
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="top" style="padding-left: 30.0px; text-align: left">
          Proceeds from borrowings
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          14,386
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          17,712
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          (21,488
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: left; white-space: nowrap">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          (10,324
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: left; white-space: nowrap">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="top" style="padding-left: 30.0px; text-align: left">
          Principal payments on debt
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          (65,575
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: left; white-space: nowrap">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          (92,448
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: left; white-space: nowrap">
          )
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          374
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          -
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="top" style="padding-left: 30.0px; text-align: left">
          Proceeds from options exercised
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          789
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          125
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          40
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          438
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="top" style="padding-left: 30.0px; text-align: left">
          Excess tax benefit of options exercised
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          93
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          450
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          -
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          -
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="top" style="padding-left: 30.0px; text-align: left">
          Debt issuance costs
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          -
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          (4,471
        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: left; white-space: nowrap">
          )
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          (4,056
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: left; white-space: nowrap">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          (3,737
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: left; white-space: nowrap">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="top" style="padding-left: 30.0px; text-align: left; padding-bottom: 2.0px">
          Dividends paid
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          (15,616
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: left; white-space: nowrap">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          (14,885
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: left; white-space: nowrap">
          )
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          (19,129
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: left; white-space: nowrap">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          (2,639
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: left; white-space: nowrap">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="top" style="padding-left: 30.0px; text-align: left; padding-bottom: 2.0px">
          Net cash (used in) financing activities
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          (65,923
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: left; white-space: nowrap">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          (93,517
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: left; white-space: nowrap">
          )
        </td>
      </tr>
      <tr>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          (725
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: left; white-space: nowrap">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          (1,897
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: left; white-space: nowrap">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left; padding-bottom: 2.0px">
          Effect of exchange rate changes on cash and cash equivalents
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          (3,373
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: left; white-space: nowrap">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          (9,285
        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: left; white-space: nowrap">
          )
        </td>
      </tr>
      <tr>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          2,686
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          22,891
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left">
          Increase in cash and cash equivalents
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          10,153
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          24,835
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          129,768
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          99,410
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left; padding-bottom: 2.0px">
          Cash and cash equivalents at beginning of period
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          122,301
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom: solid black 1.0pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          97,466
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="border-bottom: double black 2.25pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          $132,454
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom: double black 2.25pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          $122,301
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left; padding-bottom: 4.0px">
          Cash and cash equivalents at end of period
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom: double black 2.25pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          $132,454
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom: double black 2.25pt; padding-left: 0.0px; padding-right: 0.0px; text-align: right; white-space: nowrap">
          122,301
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <p>

    </p>
    <p>
      CONTACT:<br>Albany International Corp.<br><i>Investors:</i><br>John
      Cozzolino, 518-445-2281<br><u>john.cozzolino@albint.com</u><br>or<br><i>Media:</i><br>Susan
      Siegel, 518-445-2284<br><u>susan.siegel@albint.com</u>
    </p>
    <p>

    </p>
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</SEC-DOCUMENT>
