LaBarge Inc. Posts Profits
Last updated Friday, October 31, 2008 6:00 PM CDT in Business
By THE MORNING NEWS
SPRINGDALE -- LaBarge Inc. reported a 15 percent growth in sales in its 2009 fiscal first quarter ended Sept. 28.
The St. Louis-based electronics manufacturer posted a net income of $3.66 million, up 46 percent from $2.52 million earned in the year-ago period.
The 23 cents earned per share compared to 16 cents earned a year earlier.
Shipments to defense customers comprised the largest portion of fiscal 2009 first-quarter net sales at 45 percent, compared with 39 percent a year ago.
Still, the company said it is starting to see weakness in its industrial market and mining sectors.
The company said its double-digit growth propelled the gross margins to the highest level in two years, in spite of the weakened economy.
Looking forward, the company said it expects second-quarter sales and earnings to be comparable to the first quarter.
With a nod to the uncertain economic environment, LaBarge said the company is monitoring business activity across key market sectors and believes that in the long term its diverse market approach will serve the company well.
Shares of LaBarge closed Friday at $13.35, up $1.25 cents.
Reader Comments (No comments posted.)
The following comments are provided by readers and are the sole responsibility of their authors. The Morning News does not review comments before their publication, nor do we guarantee their accuracy. By publishing a comment here you agree to abide by our comment policy. If you see a comment that violates our policy, please notify the web editor.
Not already registered?
