Insituform sales up, though costs hurt fourth-quarter profit
Insituform Technologies Inc. improved sales in the fourth quarter, but its profit still fell, the Chesterfield-based company said Thursday evening in a release. The company repairs water, sewer and other underground piping systems.
Insituform reported its income was $9.65 million, or about 34 cents per share, for the quarter ended Dec. 31. That was down about 5 percent from $10.1 million during the same period a year ago, or about 37 cents per share.
The performance was hurt partly by about $1.3 million in costs from reducing the size of its North American and European segments.
The company’s revenues improved 6 percent to $137.3 million during the quarter from $130 million in the quarter a year ago no fax payday loans. The improvement came from the Insituform’s Asia-Pacific segment, which included the first sewer lining instillations done by the company in India.
The company projected an improved performance for 2009, with net income from continued operations of $25.5 million to $27 million, compared to the $24.1 million in had in 2008. Insituform expects a pair of recent acquisitions to create more opportunities to grow revenue.
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