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PITTSBURGH, March 02, 2021 (GLOBE NEWSWIRE) — L.B. Foster Company (NASDAQ: FSTR), a leading provider of products and services for the rail industry and solutions to support critical infrastructure projects, today reported its fourth quarter and full year 2020 operating results, which included the following performance highlights: Fourth quarter of 2020 net income from continuing operations was $2.3 million, or $0.21 per diluted share, a decrease of $2.62 per diluted share from the prior year quarter. Adjusted net income from continuing operations1 for the fourth quarter of 2020 was $2.5 million, or an adjusted $0.24 per diluted share1, a decrease of $0.09 per adjusted diluted share1 from the prior year quarter. Adjusted net income from continuing operations1 for the fourth quarter of 2020 excludes restructuring charges of $0.3 million, net of tax. Net sales for the fourth quarter of 2020 decreased by $25.8 million, or 18.2%, from the prior year quarter to $115.6 million. Of the $25.8 million decline, $13.3 million came from divisions that primarily serve midstream energy customers. New orders for the fourth quarter of 2020 were $134.4 million, a decline of 23.4% from the prior year, but increased 3.0% sequentially from the third quarter of 2020. […]
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