Warranty costs push L.B. Foster $2.1M in red

Aug 08, 2012 | 04:47 PM | Corinna Petry

Tags  L.B. Foster, rail, construction, tubular equipment, earnings, Robert Bauer, Union Pacific Railroad, corinna petry


CHICAGO — L.B. Foster Co. posted a net loss of nearly $2.1 million in the second quarter in contrast to net income of $6.4 million in the same period last year.

The Pittsburgh-based manufacturer, fabricator and distributor of products and services for rail, construction, energy and utility applications recorded a $19-million pre-tax charge related to a product warranty claim it has been investigating since July 2011. The charge is Foster’s best estimate of the costs to settle a claim over concrete railroad ties made at the Grand Island, Neb., plant, which it shut down in....





Latest Pricing Trends

Poll

Is severe weather affecting your business?

Yes
No


View previous results