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Sales increase but profits decrease at L.B. Foster
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Green Tree-based L.B. Foster reported third-quarter profit of $8.2 million or $0.83 per diluted share compared to profit of $9.7 million or $0.91 per diluted share for the third quarter of 2011.
For the first nine months of 2012, the company reported profit of $9.5 million or $0.80 per diluted share compared to $16.7 million or $1.57 per diluted share for the first nine months of 2011.
The rail products company fell short of analysts' predictions that it would earn $0.89 per share for the third quarter.
Sales for the third quarter of 2012 were $170.3 million compared to sales of $158.3 million for the third quarter of 2011.
For the first nine months of 2012, L.B. Foster reported sales of $447.8 million compared to $441.6 million for the first nine months of 2011.
First Published November 1, 2012 9:58 am
