For the year, the firm's profit grew 16.5 percent as sales shot up nearly 24 percent. LaBarge's profit hit $11.3 million on sales of $235.2 million, compared with profit of $9.7 million on sales of $190 million in 2006.
The largest contribution to bookings of new business during fiscal 2007 came from the defense, commercial aerospace and natural resources market sectors. Company officials said that the strong bookings replenished backlog to a new year-end high of $206.21 million as of July 1, up 12 percent from $183.9 million at the end of fiscal 2006.
Thursday, August 23, 2007
LaBarge profits up
LaBarge, Inc., which has a plant in Joplin, saw a profit increase of seven percent and a revenue increase of 18 percent during the fourth quarter, according to a company news release: