ST. LOUIS -- St. Louis has something more than the World Series-winning Cardinals to cheer about. St. Louis based LaBarge reported fiscal 2007 first-quarter net earnings increased 19% to $2.4 million while net sales climbed 26% to $49.9 million.

For the quarter, gross margin was 21.4%, down from 24% a year ago but up from 20.4% sequentially. Cash from operations was $10.4 million, versus a loss of $1.5 million in Q1 2006.

Chief executive Craig LaBarge said, "Shipments to virtually all the market sectors we serve were strong during the first quarter with the largest dollar increases coming from government systems, natural resources and defense.

Shipments to defense customers accounted for 37% of sales. Bookings were robust during the quarter, particularly in defense and commercial aerospace. Backlogs reached a company record of $211.8 million, up 15% sequentially.

LaBarge said, "Based on the continued strength of our backlog, the pipeline of new business opportunities and the currently strong business climate in certain of the markets we serve, we believe LaBarge is well-positioned to expand sales and earnings throughout the 2007 fiscal year. Further, we expect fiscal 2007 second-quarter results will compare favorably with the comparable period a year earlier."

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