Astec reported its 2009 second quarter results on July 20 at 10 a.m. via conference call and webcast.
The company reported a net income attributable to controlling interest of $7.7 million, down 63.5 percent from $21.1 million in the second quarter of 2008. The net income attributable to controlling interest came to $0.34 per diluted share, down 63.4 percent from $0.93 per diluted share in the second quarter of 2008.
Revenues for Astec totaled $188.8 million for the second quarter, down 32 percent from revenues of $277.7 million one year ago. Domestic sales accounted for $129.2 million and international sales totaled $59.6 million. In the second quarter of 2008, domestic sales totaled $184.7 million and international sales totaled $93 million.
The company’s backlog totaled $133.6 million, down 50.1 percent from last year’s total of $267.9 million.
Astec chairman and CEO Dr. J. Don Brock says that stimulus funds have helped the company’s asphalt and paving divisions and expects stimulus funds to increase business over the next 18 months. Brock added that international sales remain at a strong 33.7 percent of the company’s year-to-date volume.
Astec held a conference call and live webcast on July 20 for investors to ask questions and discuss the results. A transcript of the call and an archive of the webcast can be found on Astec’s investor relations website. Investors can also hear a replay of the call by dialing (877) 660-6853 for domestic callers or (201) 612-7415 for international callers. The account number is 286 and the conference ID is 328263.
