L.B. Foster Company
) posted earnings per share of 48 cents for first-quarter 2013,
up 65.5% compared with 29 cents in the year-ago quarter. Earnings
also beat the Zacks Consensus Estimate of 40 cents by 20.0%.
: In the first quarter of 2013, total sales were $129.3 million,
up 13.2% year over year, primarily driven by growth in two of its
business segments. However, it faced a decline in one of its
major segments. Revenue surpassed the Zacks Consensus Estimate of
segment increased 22.2% year over year to $81.4 million. This was
a result of solid sales in the rail distribution and transit
segment dropped 4.0% year over year to $36.8 million, due to
lower fabricated bridge business.
segment generated revenue of $11.1 million, increasing 19.5% year
: Gross profit margin in the quarter increased 30 basis points
year over year to 19.2%. SG&A expenses in the quarter were
recorded at $17.1 million, compared with $16.9 million in the
Rail Products recorded gross margin of 20.9%, decreasing 70
basis points year over year. Construction Products' gross margin
increased 50 basis points compared with the year ago quarter, to
13.5%. Tubular Products' gross margin in the quarter was 28.9%,
decreasing 10 basis points year over year.
Balance Sheet/Cash Flow
: Exiting the first quarter 2013, Foster's cash and cash
equivalents were approximately $81.4 million, compared with
$101.5 million in the previous quarter. Total long-term debt
balance stood at $21,000 against $27,000 in the preceding
Cash used in operations amounted to $17.6 million for the
first quarter, compared with $2.9 million used in the year-ago
: Foster expects to invest in various growth programs during
2013, to achieve better results. It is also expected that the
Rail and Tubular Products' demand will continue to expand.
Foster currently carries a Zacks Rank #3 (Hold). Other steel
companies worth a look are
Gibraltar Industries, Inc.
Shiloh Industries Inc.
); both carrying a Zacks Rank #1 (Strong Buy); whereas
) carries a Zacks Rank #2 (Buy).
FOSTER LB CO (FSTR): Free Stock Analysis
MECHEL OAO ADS (MTL): Free Stock Analysis
GIBRALTAR INDUS (ROCK): Free Stock Analysis
SHILOH INDS INC (SHLO): Get Free Report
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