Astec Industries Q1 Profit Decreases, misses estimates

(RTTNews) - Astec Industries (ASTE) revealed a profit for first quarter that decreased from the same period last year and missed the Street estimates.

The company's bottom line came in at $3.4 million, or $0.15 per share. This compares with $12.1 million, or $0.53 per share, in last year's first quarter.

Excluding items, Astec Industries reported adjusted earnings of $7.8 million or $0.34 per share for the period.

Analysts on average had expected the company to earn $0.81 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 11.1% to $309.2 million from $347.9 million last year.

Astec Industries earnings at a glance (GAAP) :

-Earnings (Q1): $3.4 Mln. vs. $12.1 Mln. last year. -EPS (Q1): $0.15 vs. $0.53 last year. -Revenue (Q1): $309.2 Mln vs. $347.9 Mln last year.