Astec Industries Q4 Loss Narrows With Higher Sales

(RTTNews) - Astec Industries, Inc. (ASTE), a manufacturer of specialized equipment for asphalt road building, reported Wednesday that its fourth-quarter net loss attributable to controlling interest narrowed to $1 million from last year's $10 million.

Loss per share were $0.04, narrower than loss of $0.44 per share a year earlier.

Adjusted net income attributable to controlling interest was $7.8 million or $0.34 per share, compared to prior year's loss of $1.4 million or $0.06 per share.

On average, four analysts polled by Thomson Reuters expected earnings of $0.37 per share for the quarter. Analysts' estimates typically exclude special items.

Net sales increased 31.2 percent to $349.9 million from $266.6 million a year ago. Analysts expected sales of $313.55 million for the quarter.

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