Foster L B Company (FSTR) saw its loss narrow to $2.42 million, or $0.23 a share for the quarter ended Mar. 31, 2017. In the previous year period, the company reported a loss of $2.83 million, or $0.28 a share.
Revenue during the quarter dropped 6.02 percent to $118.70 million from $126.31 million in the previous year period. Gross margin for the quarter contracted 107 basis points over the previous year period to 17.90 percent. Operating margin for the quarter period stood at positive 0.22 percent as compared to a negative 1.68 percent for the previous year period.
Operating income for the quarter was $0.27 million, compared with an operating loss of $2.12 million in the previous year period.
Bob Bauer, President and Chief Executive Officer, commented, "The quarter exceeded our expectations as all three reporting segments experienced significant improvement in demand. Specifically, we were encouraged by the fact that all three segments experienced double digit growth in bookings and backlog. At March 31, our backlog was $195 million after increasing sequentially over the past three quarters."
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