Portec Rail Products Reports 2009 Third Quarter and Nine Month Operating Results

PITTSBURGH -- Portec Rail Products, Inc. today announced unaudited net income of $2,023,000 or .21 per share for the three months ended September 30, 2009, and $5,362,000 or .56 per share for the nine months ended September 30, 2009. These amounts compare to unaudited net income of $2,516,000 or .26 per share, and $6,264,000 or .65 per share, for the three and nine months ended September 30, 2008, respectively. Average basic and diluted shares outstanding were 9.6 million for all periods presented. Net sales for the three and nine months ended September 30, 2009 were $24.3 million and $73.0 million, respectively, while net sales for the three and nine months ended September 30, 2008 were $29.6 million and $84.7 million, respectively.

Richard J. Jarosinski, President and Chief Executive Officer said, "We are pleased with our financial performance in what continues to be a very challenging economic climate for our industry. We believe that the overall diversification in our markets and product groups continue to help soften the impact on our business from the global economic downturn. Lower traffic volumes continue to be reported by the North American Class 1 heavy-haul railroads. These customers continue to represent a large portion of our sales, and they continue to invest in our products and services. We have also achieved sales levels from new markets for some of our products due to our efforts to continue global expansion of our products and services."

Portec Rail Products, Inc., headquartered in Pittsburgh, manufactures, supplies and distributes a broad range of railroad products, including rail joints, rail anchors and spikes, railway friction management products, railway wayside data collection and data management systems and load securement systems. The Company's largest business unit, the Railway Maintenance Products Division, operates a manufacturing and assembly plant in Huntington, West Virginia, an engineering and assembly facility in Dublin, Ohio (Salient Systems), and is headquartered in Pittsburgh.  For more information, visit www.portecrail.com .