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Astec Industries Reports Third Quarter 2013 Results

Stocks in this article: ASTE

CHATTANOOGA, Tenn., Oct. 22, 2013 (GLOBE NEWSWIRE) -- Astec Industries, Inc. (Nasdaq:ASTE) today reported results for their third quarter ended September 30, 2013. Net sales for the third quarter of 2013 were $213.2 million compared to $218.4 million for the third quarter of 2012, a 2% decrease. Earnings from continuing operations for the third quarter of 2013 were $6.5 million or $0.28 per diluted share compared to $6.6 million or $0.29 per diluted share in the third quarter of 2012, a decrease of 1%.

Domestic sales decreased 1% to $132.4 million for the third quarter of 2013 compared to $134.0 million for the third quarter of 2012. International sales decreased 4% to $80.8 million for the third quarter of 2013 compared to $84.4 million for the third quarter of 2012.

Net sales for the first nine months of 2013 were $709.1 million compared to $708.6 million for the first nine months of 2012, a slight increase. Earnings from continuing operations for the first nine months of 2013 were $30.8 million or $1.33 per diluted share compared to $28.5 million or $1.24 per diluted share in the first nine months of 2012, an 8% increase.

Domestic sales increased 3% to $456.6 million for the first nine months of 2013 compared to $443.5 million for the first nine months of 2012. International sales were $252.5 million for the first nine months of 2013 compared to $265.1 million for the first nine months of 2012, a 5% decrease.

The Company's domestic backlog increased 20%, from $110.6 million at September 30, 2012 to $132.9 million at September 30, 2013. The international backlog at September 30, 2013 was $95.6 million compared to $120.1 million at September 30, 2012 for a decrease of 20%. Total backlog decreased 1% to $228.5 million at September 30, 2013 from $230.7 million at September 30, 2012. 2012 backlog amounts have been revised to reflect divestitures made late in 2012.

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