published Monday, April 25th, 2011

Astec reports higher earnings

Chattanooga-based asphalt equipment maker Astec Industries Inc. today reported higher first quarter earnings on better sales over a year ago.

The company reported net income of $10.1 million for the quarter compared to $8.8 million a year ago, up 14.8 percent. Earnings per share for the quarter was 44 cents versus 39 cents a year ago, up 12.8 percent.

Revenues for the first quarter were $230.2 million compared with $193.5 million a year ago, a 19 percent increase.

“Although we continue to face uncertainty in our domestic markets, the international markets continue to be very strong," said J. Don Brock, chairman and chief executive officer.

For more coverage, see Tuesday’s Times Free Press

about Mike Pare...

Mike Pare, the deputy Business editor at the Chattanooga Times Free Press, has worked at the paper for 27 years. In addition to editing, Mike also writes Business stories and covers Volkswagen, economic development and manufacturing in Chattanooga and the surrounding area. In the past he also has covered higher education. Mike, a native of Fort Lauderdale, Fla., received a bachelor’s degree in communications from Florida Atlantic University. he worked at the Rome News-Tribune before ...

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