Federal Signal Corp. (NYSE:FSS), a manufacturer of safety and security vehicles and products, reported Wednesday that its fourth-quarter net loss was $16.6 million or $0.27 per share, narrower than prior year's $169.2 million or $2.72 per share.
Adjusted net income was $0.06 per share, excluding a non-cash goodwill and other intangible asset impairment charges of $20 million.
Net sales climbed 20 percent to $223.3 million from $186.7 million a year ago.
On average, analysts polled by Thomson Reuters expected earnings of $0.07 per share on sales of $202.20 million. Such estimates typically exclude special items.
The company reported orders of $349 million for the fourth quarter, 87 percent higher than last year led by dramatic improvements in order rates at its Environmental Solutions and Federal Signal Technologies Groups.
Big question is: was I wrong in my analysis of the company's situation. I am going to have to dig into this and either support my article or correct my thesis. Such is the life of an analyst. Sometimes right, sometimes wrong, always questioning.
Looking ahead, Dennis Martin, President and Chief Executive Officer, stated, "Our strong order trends and healthy order backlog have positioned the Company well as we begin 2012. Year-end order backlogs for each of our four business groups are at least 40 percent higher than they were a year ago."
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.