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Rail News Home Financials

7/28/2006



Rail News: Financials

FreightCar America's second-quarter sales, income and backlog go up; car orders come down



In the second quarter, FreightCar America Inc. obtained fewer rail-car orders but increased its backlog on a year-over-year basis. Orders totaled 3,763 units and, as of June 30, the backlog totaled 16,846 units compared with 5,104 units and 15,867 units, respectively, in second-quarter 2005. Orders totaled 1,031 units in the first quarter while the backlog stood at 17,794 units on March 31.

The company also registered quarterly sales of $365.4 million and net income of $36.6 million compared with sales of $230.7 million and net income of $9.1 million during the same 2005 period.

“We have continued to increase productivity at all production facilities, which has enabled us to improve operating leverage, [and] our strong relationships with suppliers have allowed us to maintain timely deliveries of materials and components to our plants,” said FreightCar America President and Chief Executive Officer John Carroll Jr. in a prepared statement.

During the year’s first half, the company registered sales of $658.2 million and net income of $58 million compared with sales of $396.5 million and net income of $10.7 million during the same 2005 period.

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


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