Astec Industries reported its Q3 results, which were below analysts’ expectations. The company announced a net income of 51 cents per share, compared to 46 cents last year, while the analysts were expecting 69 cents per share. The revenue increased from $171.5 million last year to $206.2 million this year, however, the analysts were forecasting revenue of $220.5 million. The results were short of expectations as there were higher cost cuts in the sales gains, and the margins were affected by shipment of some new equipment models.
