Astec Industries Inc. officials demonstrate a piece of paving equipment.A decline in international sales cut earnings for Astec Industries Inc., in the first quarter of 2013 below analysts expectations and year-ago levels.
The Chattanooga-based producer of paving and construction equipment said today it earned $9.5 million, or 41 cents per share, on sales of $238.7 million. In the same time a year ago, Astec earned $13.2 million, or 57 cents per share, on sales of $247.8 million.
Earnings were 14 cents per share below analysts expectations for the quarter.
Astec said its domestic sales increased 8 percent to $175.5 million in the first quarter of 2014 from $161.9 million for the first quarter of 2013. International sales were $63.2 million for the first quarter of 2014, down 26 percent to $85.9 million for the first quarter of 2013.
The Company’s backlog increased 8 percent from $276.5 million at March 31, 2013 to $299.6 million at March 31, 2014.