LaBarge reports substantial sales and earnings increase

LaBarge, Inc. has reported that financial results for its fiscal 2005 third quarter and first nine months ended April 3, 2005 rose significantly over prior-year levels.

For the fiscal 2005 third quarter, net sales rose 41 percent to $44,837,000, compared with $31,787,000 for the year-ago period. Fiscal 2005 third-quarter net earnings increased 77 percent to $3,007,000, or $.19 per diluted share, compared with $1,695,000, or $.11 per diluted share, in the fiscal 2004 third quarter.

For the first nine months of fiscal 2005, net sales rose 51 percent to $137,189,000, compared with $90,600,000 for the year-ago period. Net earnings for the first nine months of fiscal 2005 grew 84 percent to $8,031,000, or $.51 per diluted share, compared with $4,368,000, or $.28 per diluted share, in fiscal 2004. Fiscal 2004 results include a net loss from discontinued operations of $102,000, or $.01 per share.

Craig LaBarge, chief executive officer and president, commented, "We are pleased with LaBarge's performance during the third quarter and, although sales were down from this year's second-quarter levels, we reported outstanding year-over-year growth."
 
Mr. LaBarge concluded, "We anticipate fiscal 2005 full-year sales will be $181 million to $183 million, and earnings will be approximately $.67 per diluted share. Looking ahead, we expect to set new sales and earnings records in fiscal 2006 as we remain optimistic about LaBarge's prospects based on current booking activity and the healthy array of new business opportunities presently in the pipeline."