Friday, February 06, 2009

LaBarge profits down

LaBarge, which has a plant in Joplin, saw its profits fall 93 percent in the last quarter.

The company reported net earnings of $249,000 for its 2009 fiscal second quarter ended Dec. 28, 2008, down from nearly $3.4 million in profit in the prior year’s quarter.

LaBarge said its profit felt the impact of a nonrecurring write-off of inventory and accounts receivable related to the Chapter 11 bankruptcy reorganization of customer Eclipse Aviation Corp. in Albuquerque, N.M.

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