Federal Signal Corporation Announces 2011 First Quarter Results

Federal Signal Corporation announced a loss per share from continuing operations of $0.08 for the first quarter and a loss from continuing operations of $5.3 million on net sales of $173.6 million. For the same period of 2010, the company reported a loss per share of $0.08 on a loss of $4 million from continuing operations on net sales of $164.6 million.

The company recorded a net loss of $5.3 million in the first quarter of 2011 compared to net loss of $5 million, including a loss from discontinued operations of $1 million in the same prior year period.

“The first quarter reflected a continuation of some of the positive trends we saw in the fourth quarter of last year,” Dennis J. Martin, president and CEO, stated. “Orders for our longer lead time businesses increased significantly, both on a sequential basis and as compared to the first quarter of last year. Our order backlog is almost 20% higher at the end of the first quarter than it was at the end of last year.

“In addition, we are continuing to make progress on our 80/20 profitable growth initiatives,” Mr. Martin continued. “We are bringing more focus to inventory management across all of the businesses, and we are leveraging our strong businesses and products to position ourselves for profitable growth. Our recently announced relationship with Kapsch to work together on initiatives in North American intelligent transportation markets is a good example of leveraging our strengths to drive value creation.”