L.B. Foster's profit rises 8% in 4Q
L.B. Foster Co., Green Tree, said profit and sales in the fourth quarter increased and projected 2013 sales will grow a bit faster.
The manufacturer of products for the rail, energy and construction markets expects sales to rise 5 percent to 6.5 percent and expects to increase capital spending to “address opportunities for growth,” the company said.
Quarterly profit increased 8.2 percent to $6.7 million, or 65 cents a share, compared with $6.1 million, or 60 cents a share, a year earlier. Sales rose 5.2 percent to almost $141 million, compared with less than $134 million, because of significant gains in rail and tubular product sales, offset by lower sales in construction markets.
“The fourth quarter turned out to be a strong finish for the year,” said CEO Robert Bauer in a statement.
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