UPDATE 1-L.B. Foster Q3 beats; sees rise in order bookings

Tue Oct 26, 2010 8:52am EDT

* Q3 EPS $0.63 vs est $0.55

* Q3 rev $125.6 mln vs est $119.3 mln

* Says seeing rise in order bookings

Oct 26 (Reuters)- Rail equipment maker L.B. Foster Co (FSTR.O) posted better-than-expected quarterly results, helped by strong sales at all its segments, and said it was seeing a rise in order bookings.

The company makes rail and trackwork used in railroad and mass transit systems and in mining and also supplies pipe products for industrial, utility, and agricultural water wells.

For the July-September quarter, net income was $6.5 million, or 63 cents a share, compared with $6.1 million, or 60 cents a share a year ago.

Sales rose 28 percent to $125.6 million, while bookings rose 9 percent to $124.8 million.

Analysts on average had expected earnings of 55 cents a share, before special items, on revenue of $119.3 million, according to Thomson Reuters I/B/E/S.

The Pittsburgh, Pennsylvania-based company also said it was moving ahead with the divestment of the insulated bonded rail joint business assets of Portec, which it agreed to buy in February, to satisfy antitrust concerns. [ID:nSGE61G0K7].

L.B. Foster's shares, which have gained 27 percent in value in the last two months, closed at $31.99 Monday on Nasdaq. (Reporting by Divya Sharma in Bangalore; Editing by Unnikrishnan Nair)

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