Astec Industries (NASDAQ: ASTE) manufactures
specialized equipment for building and restoring infrastructure. The firm provides aggregate processing and mining equipment; asphalt production equipment; mobile asphalt paving equipment; and underground boring, directional drilling and trenching equipment. It also has a unit in the wood grinding and processing industry. Caterpillar (NYSE: CAT) is a major competitor.
The Street was surprised last week, when Astec reported Q4 EPS of 50 cents and revenues of $221 million. Analysts had been expecting 41 cents and $200.9 million. Management also guided FY08 EPS to $2.80-$2.95 ($2.77 consensus) and FY08 revenues to $1 billion ($930.05 million consensus).
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