* Q2 EPS $0.59 vs est $0.33
* Q2 rev up 20 percent
* Says DoJ seeks "restructuring solution" in Portec deal
July 27 Rail equipment maker L.B. Foster Co
(FSTR.O) posted better-than-expected quarterly results, helped
by strong sales in all its segments and a 5 percent rise in
For the second quarter, the company earned $6 million, or
58 cents a share, compared with $2.7 million or 26 cents a
share, a year ago.
The company earned 59 cents a share, excluding certain
items. Analysts had expected earnings of 33 cents a share,
according to Thomson Reuters I/B/E/S.
Revenue rose 20 percent to $119.5 million, above analysts
expectation of $98 million.
Bookings for the quarter were $120.6 million, up from $115
The company added that the Antitrust Division of the
Department of Justice will seek "some type of restructuring
solution" with regard to its pending acquisition of Portec Rail
The solution is to help alleviate concerns that the deal
would have an anti-competitive effect with respect to the
insulated bonded rail joint product, LB Foster said.
Shares of the company closed at $28.96 Monday on Nasdaq.
(Reporting by Amulya Nagaraj in Bangalore; Editing by Don