L.B. Foster Reports Fourth Quarter Operating Results
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L.B. Foster (FSTR) Reports Q4 Loss of $3.97
March 2, 2017 4:03 PM UTCL.B. Foster (NASDAQ: FSTR) reported Q4 EPS of ($3.97), versus $0.32 reported last year. Revenue for the quarter came in at $106.6 million versus the consensus estimate of $104 million.
Fourth quarter net sales of $106.6 million decreased by $32.6 million, or 23.4%, compared to the prior year quarter due to a 27.2% decrease in Tubular segment sales and a 34.0% decline in Rail Products and Services (Rail) segment sales. Our United States-based rail track components businesses reported a combined sales reduction of $24.4 million in the fourth quarter, which accounted for 75% of the decline.Gross profit margin was 17.6%, 380... More