Weather problems clip L.B. Foster's first-quarter income

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Green Tree-based L.B. Foster this morning reported net income of $3.6 million, or 36 cents per share, in the first quarter, down from $4.9 million, or 48 cents per share in the year-ago quarter.

The company, which makes products for the rail, construction and energy markets, said sales declined to $111 million during the three months ended March 31, from $129 million in the first quarter of 2013.

"As our customers struggled with weather-related problems in the first quarter, our shipments were adversely affected," said L.B. Foster CEO Robert P. Bauer in the earnings release. "We continue to see strength in our markets and expect our customers that were negatively impacted by the severe weather conditions in the first quarter to recover during the remainder of the year."

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