LaBarge Reports Record Bookings
Published: 02 November 2007
by Mike Buetow
For the period ended Sept. 30, net profits were $2.5 million on sales of $59.2 million.
Gross margin was 19.2%, up from 18% in the fourth quarter but down from 21.4% last year.
Net cash from operations was $5.1 million, up from $1.04 million in the fourth quarter and down from $10.4 million a year ago.
Bookings were extremely strong, exceeding $100 million, a record for the company, on demand from the defense, natural resources and industrial sectors. Backlogs at Sept. 30 were $245.5 million, also a record and up 19% from July 1 and 16% from last year.
Chief executive and president Craig LaBarge said, “LaBarge’s long-term business outlook remains very positive based on the strength of our current backlog and a healthy pipeline of new business opportunities. We expect second-quarter sales and earnings will compare favorably to this year’s first-quarter results. Further, we expect our improving mix of business to drive further gross margin improvement in the second half of the fiscal year. We expect fiscal 2008 to be another record year.
