<SEC-DOCUMENT>0001157523-15-002296.txt : 20150710
<SEC-HEADER>0001157523-15-002296.hdr.sgml : 20150710
<ACCEPTANCE-DATETIME>20150710084118
ACCESSION NUMBER:		0001157523-15-002296
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20150710
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Regulation FD Disclosure
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20150710
DATE AS OF CHANGE:		20150710

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:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-10026
		FILM NUMBER:		15982543

	BUSINESS ADDRESS:	
		STREET 1:		216 AIRPORT DRIVE
		CITY:			ROCHESTER
		STATE:			NH
		ZIP:			03867
		BUSINESS PHONE:		5184452200

	MAIL ADDRESS:	
		STREET 1:		216 AIRPORT DRIVE
		CITY:			ROCHESTER
		STATE:			NH
		ZIP:			03867

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ALBINT INC
		DATE OF NAME CHANGE:	19870924
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>a51139249.htm
<DESCRIPTION>ALBANY INTERNATIONAL CORP. 8-K
<TEXT>
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    <p style="text-align: center">
      <font style="font-size: 10pt; font-family: Times New Roman"><b><br style="font-size: 10pt; font-family: Times New Roman">
      </b></font><b><font style="font-size: 16pt; font-family: Times New Roman">U.S
      SECURITIES AND EXCHANGE</font><font style="font-size: 14pt; font-family: Times New Roman">
      </font></b><font style="font-size: 14pt"><br style="font-size: 14pt"></font><font style="font-size: 12pt; font-family: Times New Roman"><b>COMMISSION</b></font><br><font style="font-size: 10pt; font-family: Times New Roman">Washington,
      D.C. 20549</font><br><br><font style="font-size: 16pt; font-family: Times New Roman"><b>FORM
      8-K</b></font><br><br><b>CURRENT REPORT</b><br><b>PURSUANT TO SECTION 13
      OR 15(d) OF THE</b><br><b>SECURITIES EXCHANGE ACT OF 1934</b><br><br><font style="font-size: 10pt; font-family: Times New Roman">Date
      of Report: &#160;&#160;&#160;July 10, 2015</font><br><font style="font-size: 10pt; font-family: Times New Roman">
      (Date of earliest event reported)</font><br><br>
    </p>
<div style="text-align:left">
    <table cellspacing="0" style="margin-bottom: 10.0px; font-size: 10pt; width: 100%; font-family: Times New Roman">
      <tr>
        <td style="width: 25%">
          &#160;
        </td>
        <td valign="top" style="padding-left: 0.0px; width: 50%; border-bottom: solid black 1.0pt; 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>
        <td style="width: 25%">

        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; text-align: center" colspan="3">
          <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">

    </p>
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    <table cellspacing="0" style="margin-bottom: 10.0px; font-size: 10pt; width: 100%; font-family: Times New Roman">
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        <td valign="bottom" style="padding-left: 0.0px; width: 33%; border-bottom: solid black 1.0pt; text-align: center">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Delaware
          </p>
        </td>
        <td valign="bottom" style="padding-left: 0.0px; width: 34%; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: center; padding-right: 0.0px">
          <p style="margin-bottom: 0px; margin-top: 0px">
            1-10026
          </p>
        </td>
        <td valign="bottom" style="padding-left: 0.0px; width: 33%; border-bottom: solid black 1.0pt; white-space: nowrap; text-align: center; padding-right: 0.0px">
          <p style="margin-bottom: 0px; margin-top: 0px">
            14-0462060
          </p>
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; width: 33%; 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="padding-left: 0.0px; width: 34%; 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="padding-left: 0.0px; width: 33%; 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 cellspacing="0" style="margin-bottom: 10.0px; font-size: 10pt; width: 100%; font-family: Times New Roman">
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; white-space: nowrap; text-align: center; padding-right: 0.0px">
          <p style="margin-bottom: 0px; margin-top: 0px">
            216 Airport Drive, Rochester, New Hampshire 03867
          </p>
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; white-space: nowrap; text-align: center; padding-right: 0.0px">
          <p style="margin-bottom: 0px; margin-top: 0px">
            &#160;(518) 445-2200
          </p>
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: center">
          <p style="margin-bottom: 0px; margin-top: 0px">
            &#160;(Address and telephone number of the registrant's principal
            executive offices)
          </p>
        </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: 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 cellspacing="0" style="margin-bottom: 10.0px; font-size: 10pt; width: 100%; font-family: Times New Roman">
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          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="margin-bottom: 10pt; width: 100%; margin-right: 0pt; text-indent: 0pt; margin-left: 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>
      <br>

    </p>
    <p style="text-align: center">
      2
    </p>
    <p>
      <b>ITEM 2.02. RESULTS OF OPERATIONS AND FINANCIAL CONDITION.</b><br>
    </p>
    <p>
      On July 10, 2015, Albany International Corp. (the &quot;Company&quot;) issued a
      press release announcing an anticipated second-quarter charge of $14
      million associated with a revision in the profitability of a contract in
      the Albany Engineered Composites segment (AEC).
    </p>
    <p>
      <b>Item 7.01 Regulation FD Disclosure</b>
    </p>
    <p>
      A copy of the press release is attached as Exhibit 99.1.
    </p>
    <p>
      <b>Item 9.01 Financial Statements and Exhibits.</b>
    </p>
    <p>
      (d) Exhibits. The following exhibits are being furnished herewith:
    </p>
    <p style="white-space: nowrap">
      99.1&#160;&#160;&#160;&#160;&#160;&#160;&#160;News release dated July 10, 2015.
    </p>
    <div style="margin-bottom: 10pt; width: 100%; margin-right: 0pt; text-indent: 0pt; margin-left: 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">
      3
    </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 cellspacing="0" style="margin-bottom: 10.0px; font-size: 10pt; width: 100%; font-family: Times New Roman; margin-left:auto;margin-right:auto">
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        <td style="width: 5%">

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

        </td>
        <td valign="top" style="padding-left: 0.0px; width: 15%; text-align: left">
          &#160;
        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left" colspan="2">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>ALBANY INTERNATIONAL CORP.</b>
          </p>
        </td>
        <td style="width: 10%">

        </td>
      </tr>
      <tr>
        <td style="width: 5%">

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

        </td>
        <td style="width: 15%">

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left" colspan="2">
          <p style="margin-bottom: 0px; margin-top: 0px">
            &#160;
          </p>
        </td>
        <td style="width: 10%">

        </td>
      </tr>
      <tr>
        <td style="width: 5%">

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

        </td>
        <td style="width: 15%">

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

        </td>
        <td valign="top" style="padding-left: 0.0px; width: 10%; text-align: left">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; width: 5%; padding-bottom: 2.0px; text-align: left">
          <p style="margin-bottom: 0px; margin-top: 0px">
            &#160;
          </p>
        </td>
        <td valign="top" style="padding-left: 0.0px; width: 25%; padding-bottom: 2.0px; text-align: left">
          <p style="margin-bottom: 0px; margin-top: 0px">
            &#160;
          </p>
        </td>
        <td style="width: 15%">

        </td>
        <td valign="top" style="padding-left: 0.0px; width: 3%; padding-bottom: 2.0px; text-align: left">
          By:
        </td>
        <td valign="top" style="padding-left: 0.0px; width: 42%; border-bottom: solid black 1.0pt; text-align: left">
          <p style="margin-bottom: 0px; margin-top: 0px">
            /s/ John B. Cozzolino
          </p>
        </td>
        <td style="width: 10%">

        </td>
      </tr>
      <tr>
        <td style="width: 5%">

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

        </td>
        <td style="width: 15%">

        </td>
        <td style="width: 3%">

        </td>
        <td style="width: 42%">

        </td>
        <td valign="top" style="padding-left: 0.0px; width: 10%; text-align: left">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="width: 5%">

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

        </td>
        <td style="width: 15%">

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left" colspan="2">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Name: John B. Cozzolino
          </p>
        </td>
        <td style="width: 10%">

        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; width: 5%; text-align: left">
          <p style="margin-bottom: 0px; margin-top: 0px">
            &#160;
          </p>
        </td>
        <td valign="top" style="padding-left: 0.0px; width: 25%; text-align: left">
          <p style="margin-bottom: 0px; margin-top: 0px">
            &#160;
          </p>
        </td>
        <td style="width: 15%">

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left" colspan="3">
          <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: 15%">

        </td>
        <td valign="top" style="padding-left: 30.0px; text-align: left" colspan="3">
          <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: 15%">

        </td>
        <td style="width: 3%">

        </td>
        <td style="width: 42%">

        </td>
        <td valign="top" style="padding-left: 0.0px; width: 10%; text-align: left">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="width: 5%">

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

        </td>
        <td style="width: 15%">

        </td>
        <td style="width: 3%">

        </td>
        <td style="width: 42%">

        </td>
        <td valign="top" style="padding-left: 0.0px; width: 10%; text-align: left">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; width: 5%; text-align: left">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Date:
          </p>
        </td>
        <td valign="top" style="padding-left: 0.0px; width: 25%; text-align: left">
          <p style="margin-bottom: 0px; margin-top: 0px">
            July 10, 2015
          </p>
        </td>
        <td style="width: 15%">

        </td>
        <td style="width: 3%">

        </td>
        <td style="width: 42%">

        </td>
        <td style="width: 10%">

        </td>
      </tr>
    </table>
    </div>
    <div style="margin-bottom: 10pt; width: 100%; margin-right: 0pt; text-indent: 0pt; margin-left: 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">
      4<br><br><b>Index to Exhibits</b>
    </p>
    <p style="text-align: center">
      <br>

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

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

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

        </td>
        <td valign="top" style="padding-left: 0.0px; width: 83%; text-align: left">
          <p style="margin-bottom: 0px; margin-top: 0px">
            News release dated July 10, 2015
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p style="text-align: center">

    </p>
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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>a51139249ex99_1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
<html>
  <head>
    <title></title>
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    <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 Announces Anticipated Charge for Revision in Estimated
      Contract Profitability</b></font>
    </p>
    <p style="text-align: center">
      <i><font style="font-size: 12pt; font-family: Times New Roman"><b>Sets
      Q2 Earnings Release and Webcast Dates</b></font></i>
    </p>
    <p>
      ROCHESTER, N.H.--(BUSINESS WIRE)--July 10, 2015--<b>Albany International
      Corp. (NYSE:AIN) announced today that it expects to record </b>a
      second-quarter charge of approximately $14 million associated with a
      revision in the estimated profitability of a legacy contract in the
      Albany Engineered Composites segment (AEC).
    </p>
    <p>
      As disclosed in its first-quarter financial reports, AEC has a long-term
      contract for the manufacture of composite components for the Rolls-Royce
      BR 725 engine, which powers Gulfstream&#8217;s G-650 business jet. These
      components are manufactured in AEC&#8217;s Boerne, Texas, operation. The
      contract for this program was signed in 2007 and contains a very
      aggressive approach to pricing compared to AEC&#8217;s other contracts. AEC
      was required to fund certain development costs for nonrecurring
      engineering and tooling and expected to recover those costs over the
      duration of the contract, which is anticipated to be more than 20 years.
      The deferred costs were included in Other assets on the Company&#8217;s
      consolidated balance sheet and, as of June 30, 2015, the Company had
      accumulated deferred contract expenses of approximately $11 million. The
      Company tests the recoverability of these deferred costs each quarter.
      During the second quarter of 2015, the Company revised its estimate of
      the profitability of this contract and determined that the entire
      balance of these deferred costs should be written off. Additionally, the
      Company has determined that an additional charge of approximately $3
      million should be recorded as a provision for anticipated contract
      losses. The anticipated total charge of $14 million is expected to be
      included in Cost of goods sold for the AEC segment.
    </p>
    <div style="margin-bottom: 10pt; margin-right: 0pt; width: 100%; text-indent: 0pt; margin-left: 0pt">
      <div>
        <div style="text-align: left">

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

        </div>
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          <hr style="height: 1.5pt; color: black">

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

        </div>
      </div>
    </div>
    <p>
      The Company will release 2015 second-quarter financial results after the
      close of the market on Tuesday, August 4, 2015, and it will host a
      webcast to discuss earnings at 9:00 a.m. Eastern Time on Wednesday,
      August 5. Interested parties are invited to listen to the webcast via
      the Company&#8217;s Investor Relations website at <u>www.albint.com</u>.
      A replay of the webcast will be available on the website at
      approximately noon Eastern Time on August 5.
    </p>
    <p>
      <i>This 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;would,&#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 Albany&#8217;s most recent Annual Report on Form 10-K or
      Quarterly Report on Form 10-Q) that could cause actual results to differ
      materially from Albany&#8217;s historical experience and our present
      expectations or projections. Forward-looking statements in this release
      include, without limitation, statements about estimated contract
      profitability and the likelihood, amount, and timing of other cash and
      noncash charges. Such statements are based on current expectations, and
      Albany undertakes no obligation to publicly update or revise any
      forward-looking statements</i>.
    </p>
    <p>
      <b>About Albany International Corp.</b>
    </p>
    <p>
      Albany International Corp. is a global advanced textiles and materials
      processing company, with two core businesses. Machine Clothing is the
      world's leading producer of custom-designed fabrics and belts essential
      to production in the paper, nonwovens, and other process industries.
      Albany Engineered Composites is a rapidly growing supplier of highly
      engineered composite parts for the aerospace industry. Albany
      International is headquartered in Rochester, New Hampshire, operates 19
      plants in 10 countries, employs 4,000 people worldwide, and is listed on
      the New York Stock Exchange (Symbol AIN). Additional information about
      the Company and its products and services can be found at <u>www.albint.com</u>.
    </p>
    <p>

    </p>
    <p>
      CONTACT:<br><b>Albany International Corp.</b><br><b>Investors:</b><br>John
      Cozzolino, 518-445-2281<br><u>john.cozzolino@albint.com</u><br>or<br><b>Media:</b><br>Susan
      Siegel, 603-330-5866<br><u>susan.siegel@albint.com</u>
    </p>
    <p>

    </p>
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