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Market: NYSE
Sector: Electrical Components & Equipment
EPIC: LB
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LaBarge
www.labarge.com

LaBarge produces electronic equipment for use in a variety of applications, including military communication, radar and weapons systems; industrial automation; military and commercial aircraft; satellites; space launch vehicles; oil and gas wells; mine automation equipment; and medical devices.

Full LaBarge profile here
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LaBarge Posts Record Sales and Profits For Fiscal 2010

2nd Sep 2010, 3:51 pm
LaBarge Posts Record Sales and Profits For Fiscal 2010

LaBarge (NYSE: LB), a provider of electronics manufacturing services, reported it achieved record sales and earnings for the fourth quarter and the full fiscal year thanks to increased customer demand. 
The company’s share price has rallied 2% by 10 am ET.


For the fourth quarter of 2010, the company earned profits of $4.82 million, or 30 cents per diluted share, on revenues of  $82.4 million compared to profits of $2.6 million, or 16 cents per diluted share, on revenues of $64.75 million for the fourth quarter of 2009. 

  
The results represented a year-on-year increase for sales and profits of 27% and 85%, respectively. 


For fiscal 2010, profits grew by 44% compared to the prior year while sales grew 6%.  Total profits amounted to $14.89 million for the year and  revenues were $289 million.  Diluted earnings per share was $0.93. 


Sales from the firm`s medical and industrial segments grew the most during the year, both increasing 26%.  Sales from the defence segment lagged, dropping 5%. 


As of June 27, 2010,   LaBarge had total debt of $37 million, comprising about 18% of total assets.


Looking ahead, the company said it expects to post an earnings per share between $0.26 and $0.28 during the first quarter of 2011.  Revenues are expected to be in the range of $80 million to $82 million. 


LaBargeis provides its customers with electronic and electromechanical products through contract design and manufacturing services. Headquartered in St. Louis, LaBarge has operations in Arkansas, Missouri, Oklahoma, Pennsylvania, Texas and Wisconsin.

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