Astec Industries Q3 Loss Narrows, Sales Improve
(RTTNews) - Astec Industries Inc. (ASTE), a manufacturer of specialized equipment, on Wednesday reported lower loss for the third quarter, primarily helped by growth in revenue.
Net loss for the quarter narrowed to $4.2 million, or $0.18 per share, from a $6.2 million loss, or $0.27 per share, in the same period last year.
Excluding one-time items, the company posted earnings of $10.8 million or $0.47 per share.
Operating income improved to $1.1 million from a $7.2 million loss a year ago.
Net sales rose to $350.1 million from $291.4 million last year.
On Tuesday, Astec shares closed at $46.41, down 0.85%.
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