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L.B. FOSTER REPORTS SALES INCREASE OF 17 PERCENT IN FOURTH QUARTER

 PITTSBURGH, Jan. 26 /PRNewswire/ -- L.B. Foster Company (NASDAQ: FSTRA) announced today a net profit for the 1992 fourth quarter of $0.1 million or $0.01 per share.
 In the 1991 fourth quarter, a net loss of $1.1 million or $0.11 per share was reported. Net sales increased 17 percent to $53 million from the same quarter last year.
 "The current year's fourth quarter reflects a normal seasonal downturn and a weak tubular market, in combination with continued solid performances from our Birmingham pipe coating operation and Allegheny Rail Products subsidiary. While not satisfied with marginal profitability, we are certainly pleased with the comparison to 1991's final quarter in what remains a sluggish economy," stated Lee B. Foster, president and chief executive officer.
 During the fourth quarter of 1991, the company recorded provisions in excess of $1.0 million for the environmental cleanup of a closed plant, the discontinuation of the company's rail take-up operations, and the reorganizing of sales offices.
 For 1992, net income of $0.4 million or $0.04 per share was recorded, compared to net income of $0.6 million or $0.06 per share for 1991.
 During 1992, the company settled a claim with its bonding company and recorded a gain of $1.6 million. The current year also includes an unfavorable provision of $0.6 million primarily related to tubular operations, and a $0.5 million gain related to the sale of securities.
 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 Twelve Months Ended
 December 31, December 31,
 1992 1991 1992 1991
 NET SALES $52,576 $45,023 $204,961 $221,024
 COSTS AND EXPENSES:
 Cost of Goods Sold 47,157 40,242 184,117 195,758
 Selling and Administrative
 Expenses 4,827 5,248 19,716 21,202
 Interest Expense 691 606 2,786 2,999
 Other (income) expense (174) 54 (2,099) 480
 52,501 46,150 204,520 220,439
 INCOME BEFORE INCOME TAXES 75 (1,127) 441 585
 INCOME TAXES 0 (22) 30 12
 NET INCOME $ 75 $(1,105) $ 411 $ 573
 EARNINGS PER COMMON SHARE $ 0.01 $ (0.11) $ 0.04 $ 0.06
 -0- 1/26/93
 /CONTACT: Lee B. Foster of L.B. Foster Company, 412-928-7842/
 (FSTRA)


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

DM -- PG012 -- 9142 01/26/93 14:14 EST
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Publication:PR Newswire
Date:Jan 26, 1993
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