Earnings Call Excerpt
L.B. Foster Company (FSTR)
Q3 2009 Earnings Call
October 23, 2009 11:00 am ET
Executives
Stan Hasselbusch - Chief Executive Officer & President
David Russo - Chief Financial Officer
Analysts
Liam Burke - Janney Montgomery Scott
James Bank - Sidoti & Co.
Mark Zinski - 21st Century Equities
Scott Blumenthal – Emerald Advisers
Brian [Keeley] – [Kenco]
Presentation
Operator
Welcome to the third quarter 2009 L.B. Foster earnings conference call. (Operator Instructions) I would now like to turn the call over to your host for today’s conference, Mr. David Russo, Chief Financial Officer. Please proceed.
David Russo
Thank you. Good morning ladies and gentlemen. Thank you for joining us for L.B. Foster Company’s earnings conference call to review the company’s third quarter 2009 operating results. My name is David Russo and I am the Chief Financial Officer of L.B. Foster. Hosting the call today is Mr. Stan Hasselbusch, L.B. Foster’s President and CEO.
This morning, Stan will provide an overview of the company’s third quarter performance, give an update on critical business issues and discuss market conditions. Afterward, I will review the earnings press release issued earlier this morning and then we will open up the session for questions. Means to access this conference call via webcast were disclosed in our earnings press release and were posted on the L.B. Foster company website under the Investor Relations page. This web cast will be archived and available for seven days.
Today’s call includes forward-looking statements and information within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements relate to future events and expectations and include known and unknown risks and uncertainties. Future actual results may differ greatly from these statements and expectations that are expressed today. All participants are encouraged to refer to L.B. Foster’s annual report on Form 10-K for the year ended, December 31, 2008, as well as to other documents filed with the Securities and Exchange Commission for additional information about L.B. Foster. Additionally, while forward-looking statements will be made today, it is L.B. Foster Company’s policy to not provide specific earnings guidance.
With that, we will commence our discussion. I will turn it over to Stan Hasselbusch.
Stan Hasselbusch
Good morning. Thank you David and thanks to all of you for attending our third quarter 2009 earnings call and web cast. This morning we announced the results for the third quarter. Sales were $92.4 million down 36.5% from the third quarter last year. Earnings per share in the quarter were $0.60, down 21% from the previous year’s quarter.
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