December 1969
Portec posts record results for 2005Portec Rail Products, Inc., reports that it earned $1.4 million on sales of $21.7 million in last year's fourth quarter and $5.8 million on sales of $90.8 million for the full year. In 2004, the company earned $976,000 on fourth-quarter sales of $18.7 million and $4.2 million on full-year sales of $60.4 million. “Our 2005 results are a record for the company as total revenues grew by 31% and net income increased by 43%,” said President and CEO John S. Cooper. He said each of four core busineses had higher operating profits for the year, and two late-2004 acquisititions, Salient systems and Kelsan Technologies, added $11.7 million in sales and $1.4 million in net income in their first full year with the company.