ST. LOUIS -- LaBarge Inc. is reporting fiscal 2009 first-quarter net sales grew 15% year-over-year to $68.2 million, and net earnings climbed 46% to $3.7 million.

For the period ended Sept. 28, gross margin was 20.9%, up 170 basis points from a year ago and 140 basis points sequentially, the result of improved operating efficiencies and favorable product mix. Cash flow from operations increased about $2.2 million, to $7.3 million. Total debt fell 47% sequentially.

The company described bookings as "healthy," with the largest contributions coming from defense, natural resources and industrial customers. Backlogs at quarter's end were $218.4 million, down 1% from the previous quarter despite a 15% increase in shipments.

Defense shipments made up 45% of the net sales in the quarter, up six points from a year ago. Natural resources made up 16% of net sales, down 10 points, on lower shipments to mining customers, while shipments to industrial customers were 21% of net sales, up two points. Medical made up seven percent and commercial aerospace five percent.

Chief executive and president Craig LaBarge guided for fiscal 2009 second-quarter sales and earnings will be comparable to this year’s first-quarter results. "We are just beginning to see some weakness within the industrial market sector and the mining segment of the natural resources sector. We still believe that in the long term our diverse market approach will serve us well."