Last $48.77 USD
Change Today -0.63 / -1.28%
Volume 52.8K
FSTR On Other Exchanges
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As of 8:10 PM 12/19/14 All times are local (Market data is delayed by at least 15 minutes).

foster (lb) co-a (FSTR) Key Developments

L.B. Foster Company Appoints Robert S. Purgason to Board of Directors

L.B. Foster Company announced that Robert S. Purgason, Director and Chief Operating Officer (COO) of the general partner of Access Midstream Partners, L. P. has been appointed to the L.B. Foster Board of Directors, effective immediately. Effective January 1, 2015, Purgason will assume the role of Senior Vice President of Williams. He will lead the Williams operating area that encompasses the assets and operations of Access Midstream, including natural gas gathering and processing in the Marcellus, Utica, Eagle Ford, Haynesville, Barnett, Mid-continent, and Niobrara producing areas.

L.B. Foster Company Announces Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2014

L.B. Foster Company announced unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2014. For the quarter, the company reported net sales of $167.797 million against $162.248 million a year ago. Income from continuing operations before income taxes was $13.862 million against $14.022 million a year ago. Income from continuing operations was $9.119 million or $0.88 per diluted share against $9.793 million or $0.95 per diluted share a year ago. The decline is due to cost increases in selling and administrative expense. Net income was $9.116 million or $0.88 per diluted share against $9.793 million or $0.95 per diluted share a year ago. Income from continuing operations, before income taxes, excluding certain charges were $13.862 million against $14.022 million a year ago. Income from continuing operations excluding certain charges were $9.119 million or $0.88 per diluted share against $9.793 million or $0.95 per diluted share a year ago. Third quarter net sales increased by $5.5 million, or 3.4%, compared to the prior year quarter due to a 114.0% increase in Tubular segment sales, partially offset by a 3.3% decrease in Rail segment sales. Cash flow from continuing operating activities for the third quarter of 2014 generated $18.0 million compared to $3.0 million of cash provided in the third quarter of 2013. EPS decreased to 7.4% in the quarter, was affected by timing of expenses around some key initiatives, which include preparation of an ERP implementation, as well as cost related to acquisition activity, which are significant. For the nine months, the company reported net sales of $446.043 million against $441.505 million a year ago. Income from continuing operations before income taxes was $29.390 million against $32.561 million a year ago. Income from continuing operations was $19.616 million or $1.90 per diluted share against $22.001 million or $2.15 per diluted share a year ago. Net income was $19.627 million or $1.90 per diluted share against $22.015 million or $2.15 per diluted share a year ago. Income from continuing operations, before income taxes, excluding certain charges were $29.390 million against $32.561 million a year ago. Income from continuing operations excluding certain charges were $22.406 million or $2.17 per diluted share against $22.001 million or $2.15 per diluted share a year ago. Net sales for the first nine months of 2014 increased by $4.5 million, or 1.0%, due to a 29.6% improvement in Tubular segment sales and a 1.9% increase in Rail segment sales, partially offset by an 8.3% decline in Construction segment sales. Cash flow provided from continuing operating activities was $49.6 million for the first nine months of 2014, compared to $2.5 million in the prior year. The current year period was favorably impacted by improved working capital management compared to last year. Capital expenditures were $11.6 million compared to $5.6 million in the comparable 2013 period.

L.B. Foster Company Increases Quarterly Dividend, Payable on December 19, 2014

L.B. Foster Company announced that its Board of Directors has authorized a $0.04 per share regular quarterly cash dividend on its issued and outstanding shares of common stock. This represents a $0.01 per share or 33% increase from the previous quarterly dividend. The dividend is payable December 19, 2014 to shareholders of record at the close of business on December 5, 2014.

LB Foster Co. to Report Q3, 2014 Results on Nov 04, 2014

LB Foster Co. announced that they will report Q3, 2014 results Pre-Market on Nov 04, 2014

LB Foster Co., Q3 2014 Earnings Call, Nov 04, 2014

LB Foster Co., Q3 2014 Earnings Call, Nov 04, 2014

 

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