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L. B. FOSTER COMPANY REPORTS FIRST QUARTER 1993 RESULTS

 PITTSBURGH, April 27 /PRNewswire/ -- L. B. Foster Company (NASDAQ: FSTRA) announced today a net loss for the 1993 first quarter of $0.3 million or $0.03 per share on net sales of $45 million. This compares favorably to 1992 first quarter net loss of $1.2 million or $0.12 per share on similar total net sales.
 In the first quarter of 1993, the company adopted Statement of Financial Accounting Standards No. 109, "Accounting for Income Taxes," which resulted in a one time gain of $0.7 million or $0.07 per share. Additionally, during the current quarter the company recorded a charge of $0.3 million or $0.03 per share for the shutdown of an inefficient Fosterweld facility. During the 1992 first quarter, the company sold certain securities held as investments and recognized a gain of $0.5 million or $0.05 per share.
 "While we are pleased with the comparison of the 1993 first quarter results to the comparable 1992 quarter, we are disappointed that this year's results were not better," stated Lee B. Foster, president and chief executive officer. "Both our rail and pipe coating operations suffered from delays in several major contracts. Additionally, our Fosterweld pipe operations did not meet management's expectations. However, we anticipate the company's operating results in the 1993 second quarter will be greater than those achieved during the first quarter."
 L.B. Foster Company, located in Pittsburgh, is a manufacturer, fabricator and distributor of construction, rail and tubular products.
 CONDENSED STATEMENTS OF CONSOLIDATED INCOME
 L. B. FOSTER COMPANY AND SUBSIDIARIES
 (In Thousands, Except Per Share Amounts)
 Three Months Ended March 31 1993 1992
 (Unaudited)
 Net Sales $45,465 $45,135
 Costs and Expenses:
 Cost of Goods Sold 40,314 41,406
 Selling and Administrative Expenses 5,357 4,827
 Interest Expense 637 626
 Other (Income) Expense 250 (489)
 46,558 46,370
 Loss Before Income Taxes and
 Cumulative Effect of Change
 in Accounting Principle (1,093) (1,235)
 Income Tax Benefit (110) 0
 Loss Before Cumulative Effect of
 Change in Accounting Principle (983) (1,235)
 Cumulative Effect of Change in
 Accounting Principle 670 0
 Net Loss $ (313) $(1,235)
 Loss Per Share Before Cumulative
 Effect of Change in Accounting
 Principle $ (0.10) $ (0.12)
 Earnings Per Share From Cumulative
 Effect of Change in Accounting
 Principle $ 0.07 $ 0.00
 Loss Per Share $ (0.03) $ (0.12)
 CONDENSED CONSOLIDATED BALANCE SHEETS
 L. B. FOSTER COMPANY AND SUBSIDIARIES
 (In Thousands)
 March 31 1993 1992
 Assets (Unaudited)
 Cash $ 1,389 $ 1,122
 Trade Accounts Receivable 36,256 30,327
 Inventories 36,583 42,564
 Other Current Assets 1,423 1,378
 Total Current Assets 75,651 75,391
 Other Assets 32,019 29,136
 Total Assets $107,670 $104,527
 Liabilities and Stockholders' Equity
 Short-term Borrowings $ 5,655 $ 3,525
 Other Current Liabilities 22,523 22,897
 Total Current Liabilities 28,178 26,422
 Long-Term Debt 25,919 27,121
 Other Long-Term Liabilities 2,576 1,320
 Stockholders' Equity 50,997 49,664
 Total Liabilities & Stockholders' Equity $107,670 $104,527
 -0- 4/27/93
 /CONTACT: Lee B. Foster of L.B. Foster Company, 412-928-7842/


CO: L.B. Foster Company ST: Pennsylvania IN: MAC SU: ERN

KC -- PG008 -- 1472 04/27/93 14:29 EDT
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Date:Apr 27, 1993
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