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L. B. FOSTER COMPANY REPORTS SECOND QUARTER PROFIT

 L. B. FOSTER COMPANY REPORTS SECOND QUARTER PROFIT
 PITTSBURGH, Pa., July 22 /PRNewswire/ -- L. B. Foster


Company (NASDAQ: FSTRA) announced today a net profit for the 1992 second quarter of $0.7 million or $0.06 per share on sales of $52 million.
 In the comparable 1991 quarter, net income was $0.7 million or $0.07 per share on sales of $61 million.
 During the 1992 second quarter, the company settled a claim with its bonding company and recorded a gain of $1.6 million. The current quarter also included an unfavorable provision of $0.6 million for restructuring, primarily related to tubular operations.
 For the first six months of 1992, a net loss of $0.6 million or $0.06 per share was recorded compared to a net profit of $0.09 million or $0.09 per share for the same period last year. The 1992 first half included a gain of $0.5 million related to the sale of certain securities held as investments. Sales for the current year were $97 million vs. $118 million in 1991.
 "The second quarter provided some evidence of the favorable trend we anticipated at the start of the year. Operating results improved monthly during the quarter and order entry was ahead of both the 1992 first quarter and the 1991 second quarter," stated Lee B. Foster, president and chief executive officer. "We look forward to a stronger second half of 1992."
 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 Six Months Ended
 June 30, June 30,
 1992 1991 1992 1991
 (unaudited) (unaudited)
 NET SALES $51,754 $60,899 $96,889 $117,783
 COSTS AND EXPENSES:
 Cost of Goods Sold 46,973 53,752 88,379 104,462
 Selling and Administrative
 Expenses 4,934 5,482 9,761 10,725
 Interest Expense 720 827 1,346 1,588
 Other (income) expense (1,544) 134 (2,033) 132
 51,083 60,195 97,453 116,907
 INCOME BEFORE INCOME TAXES 671 704 (564) 876
 INCOME TAXES 0 15 0 18
 NET INCOME $ 671 $ 689 $ (564)$ 858
 EARNINGS PER SHARE $ 0.06 $ 0.07 $ (0.06)$ 0.09
 CONDENSED CONSOLIDATED BALANCE SHEETS
 L. B. FOSTER COMPANY AND SUBSIDIARIES
 (In Thousands)
 June 30
 1992 1991
 ASSETS
 Cash $ 1,187 $ 1,257
 Trade Accounts Receivable 38,042 35,371
 Inventories 41,775 46,602
 All Other Current Assets 1,365 1,573
 Total Current Assets 82,369 84,803
 Other Assets 31,059 29,300
 $113,428 $114,103
 LIABILITIES AND STOCKHOLDERS' EQUITY
 Short-term Borrowings $ 9,250 $ 7,700
 Other Current Liabilities 23,972 26,424
 Total Current Liabilities 33,222 34,124
 Long-Term Debt 28,600 27,655
 Other Long-Term Liabilities 1,271 1,139
 Stockholders' Equity 50,335 51,185
 $113,428 $114,103
 -0- 7/22/92
 /CONTACT: Lee B. Foster, president and CEO of L.B. Foster Co., 412-928-7842/
 (FSTRA) CO: L.B. Foster Company ST: Pennsylvania IN: CST SU: ERN


JT -- PG004 -- 1743 07/22/92 09:42 EDT
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Date:Jul 22, 1992
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