But Wall Street analysts apparently expected better still, anticipating earnings of 97 cents per share for the quarter. Shares of L.B. Foster were down 13% in midafternoon Nasdaq trading Tuesday.
Net sales of $150 million were down 8.1% from second-quarter 2012 net sales of $163 million.
The company, releasing results Tuesday, Aug. 6, attributed the results in part to a 10.3% decline in Rail segment sales and an 8.7% fallout in Construction segment sales.
Income from continuing operations for the quarter of $7.3 million, or 71 cents per diluted share, compared favorably with a loss from continuing operations of $3.3 million, or 33 cents per diluted share, in the second quarter of 2012. Excluding concrete tie charges from the prior year period, second-quarter earnings from continuing operations would have been $8.7 million, or 86 cents per diluted share, the company said.
Said President and CEO Robert P. Bauer, "This year continues to unfold in a very different way than 2012. Our strong first quarter, coupled with our lower second quarter, has resulted in a first half with sales marginally ahead of last year, and gross profit and pre-tax profit margins 25 basis points better than prior year first half results on an adjusted basis.
"While year-to-date earnings per share are below our expectations, EPS did grow 3.5% on an adjusted basis to $1.19 for the first half," Bauer said.