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The company posted a profit ofnearlt $9.7 million in the quarter endedf Dec. 31, down from $10.1 million in the year-ago quarter, when the company receivedf $4.5 million from the settlement of a patentr infringement lawsuit with a formerrEuropean licensee, Danish firm . Insituformj recorded fourth-quarter revenue of $137.3 up about 6 percent from nearly $130 million in the quarter a year For the fullyear 2008, the company’s profit was $21.6 million, up from $2.5 milliomn in 2007, when it closed its tunnelingv business and recorded pre-tax charges of $16.8 Insituform’s revenue rose more than 8 percentr in 2008 to $536.7 million from $495.6 milliohn in 2007.
Insituform closed on its $125 million acquisitiom of the business and assets of a privately held company based inNew Iberia, La. Insituforn is also acquiring Cos. Inc. in a mergert transaction of $91 million. Corrpro shareholdersx will vote on the dealMarch 13. Mo.-based Insituform Technologies Inc. (Nasdaq: INSU) provides rehabilitation and repaird servicesto sewer, water and other undergrounx piping.
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