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2/7/2006



Rail News: Financials

FreightCar America increases full-year, fourth-quarter income and sales



During the fourth quarter, FreightCar America Inc. nearly doubled its backlog to a record 20,729 units and obtained orders for more than twice as many rail cars (5,305 units) compared with fourth-quarter 2004.

The car builder also reported quarterly sales of $267.3 million and net income of $17.6 million compared with sales of $179.7 million and a net loss of $9.6 million during the same 2004 period.

“Our strong earnings performance reflects the ability of our management team to increase our production levels while improving productivity,” said FreightCar America President and Chief Executive Officer John Carroll Jr. in a prepared statement. “We have optimized production flow in our lowest cost facilities with a positive impact on operating margins.”

For the full year, the company reported sales of $927.2 million and net income of $45.4 million compared with sales of $482.2 million and a net loss of $25.9 million in 2004.

FreightCar America produces coal, flat, mill gondola, intermodal and coil steel cars, and motor vehicle carriers at plants in Danville, Ill.; Roanoke, Va.; and Johnstown, Pa.


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