LMI Aerospace reports 43% increase in Q4 profit

FROM THE ASSOCIATED PRESS

LMI Aerospace Inc. said this morning that its fourth-quarter profit soared 43 percent, boosted by a recent acquisition and surging sales of airplane parts.

The company earned $3.8 million, or 34 cents per share, compared with $2.7 million, or 24 cents per share, in the year-ago quarter.

Analysts were expecting a profit of 34 cents per share, according to a poll by Thomson Financial.

Revenue surged 81 percent to $54.6 million, from $30.2 million in the prior-year period.

The company reported $18.4 million in sales in the engineering services segment, made up entirely of sales from D3 Technologies. LMI Aerospace bought D3 Technologies for $65 million in June 2007.

Sales in the aerostructures division, which includes all other LMI business, rose 20 percent to $36.2 million.

For the full year, the company posted a profit of $13.2 million, or $1.17 per share, compared with $10.7 million, or $1.01 per share, in 2006.

Revenue rose 37 percent to $168.5 million.