CHICAGO L.B. Foster Co.
recorded net income of nearly $4.93 million in the first
quarter, up 46.2 percent from $3.37 million in the same 2012
The gain was realized on revenue
that rose 13.2 percent to $129.3 million in the same
comparison, the Pittsburgh-based manufacturer and distributor
of transportation, construction and energy market products said
L.B. Fosters March backlog totaled $248.1
million, an increase of 26.3 percent from the same period last
year, but its total first-quarter bookings declined 4.5 percent
to $163.5 million in the same comparison.
"The first quarter was a strong
start for 2013. The strength centered around our rail and
tubular products, with our first-quarter backlog increase all
coming from our rail business," president and chief executive
officer Robert P. Bauer said in a statement.
"This performance puts us in a
good position to make our 2013 plans. The operating leverage in
the quarter continues to reflect our improvements in efficiency
and nice growth from our more profitable product lines," he
"We will continue to focus on
our high-priority growth opportunities, and we expect to
increase capital spending," Bauer added.
Rail segment sales rose 22.2
percent year on year, with the company recognizing
approximately $3.5 million in sales from the $60-million
elevated transit system project in Honolulu, the company
Meanwhile, L.B. Fosters
tubular products business saw sales rise 19.5 percent year on
year during the quarter.
However, the companys construction sales fell 4
percent in the first quarter, principally due to lower
fabricated bridge product sales.