Pittsburgh, Pennsylvania-based L.B. Foster Company, a manufacturer, fabricator and distributor of products for rail, construction, energy and utility markets, announced Tuesday that Q3 net income totaled $9.7 million compared to $6.5 million in Q3 2010, led by a 29.6 percent increase in sales. The inclusion of L.B. Foster's recent subsidiary Portec Rail Products led the increase--bookings in Q3 were up 3.2 percent year-on-year, but excluding Portec, fell 14.2 percent compared to last year.
For the first nine months of 2011, income was $16.8 million compared to $14.3 million in the same period a year ago, as net sales increased by $126.4 million or 38.7 percent due to the inclusion of Portec Rail Product sales.
Stan Hasselbusch, President and CEO of L.B. Foster said that the company's rail and tubular segments reported "strong sales and income, while the softness in the Construction segment that we discussed last quarter has continued."