Astec reports higher earnings

Astec reports higher earnings

April 25th, 2011 by Mike Pare in Local - Breaking News

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