Earnings look good considering the economy.
Company Reported Diluted EPS of $0.20 and the estimate was $0.11. The Company reported net income of $4.0 million, or $0.20 per diluted share, which included a $1.2 million restructuring charge related to severance and plant closings. Exclusive of this charge, net income would have been $4.8 million, or $0.25 per diluted share.
"We succeeded in returning to profitability in the third quarter despite continued difficult market conditions, marked by a significant year-over-year decline in nonresidential construction activity in our commercial and industrial sectors," noted Norman C. Chambers, Chairman, President and Chief Executive Officer.
"Additionally, each of our business segments posted operating profits in the third quarter, which speaks to the strength of our market position and the efficiency of our integrated business model," Mr. Chambers said.
The Company reported operating income of $10.3 million.
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