L.B. Foster Reports Third Quarter Operating Results

L.B. Foster Reports Third Quarter Operating Results PR Newswire PITTSBURGH, Nov. 1, 2012 - Announces 7.6% Sales increase PITTSBURGH, Nov. 1, 2012 /PRNewswire/ – L.B. Foster Company (NASDAQ: FSTR), a leading manufacturer, fabricator, and distributor of products and services for rail, construction, energy and utility markets, today reported its third quarter 2012 operating results which included a 7.6% increase in sales compared to the prior year third quarter and diluted earnings per share from continuing operations of $0.83 which included a $3.0 million pre-tax warranty charge ($0.17 per diluted share) as the Company revised its estimates to fulfill certain concrete tie warranty claims. http://photos.prnewswire.com/prnh/20101222/MM21387LOGO Third Quarter Results Third quarter net sales of $170.3 million increased by $12.0 million or 7.6% due to a 24.2% increase in Rail segment sales and a 52.9% improvement in Tubular segment sales, partially offset by a 23.6% decline in Construction segment sales. Gross profit margin was 18.0%, 70 basis points lower than the prior year, due to the $3.0 million warranty charge recorded in the third quarter to reflect management's revised estimate of the cost it expects to incur to settle certain product claims related to concrete railroad ties, all of which were manufactured in our Grand Island, NE facility that was shut down in February 2011. Gross profit in the third quarter of 2011 included $0.8 million ($0.