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Rail News: Financials

ARI sets car delivery, financial records in the first quarter

During the first quarter, American Railcar Industries Inc. (ARI) delivered a record 1,980 rail cars (1,527 covered hoppers and 453 tank cars) compared with 1,482 cars (618 covered hoppers, 431 centerbeam platforms and 433 tank cars) in first-quarter 2005.

The company’s backlog on March 31 stood at 14,596 cars — a 115 percent increase compared with a 6,797-car backlog on March 31, 2005, and slightly more than the year-end 2005 backlog of 14,510 cars.

“We acquired one of our suppliers, Custom Steel, which has increased the percentage of rail-car parts manufactured by [ARI],” said President and Chief Executive Officer James Unger in a prepared statement.

ARI also posted record financial results in the quarter. The company registered sales of $178.7 million and net earnings of $6.7 million compared with sales of $130.9 million and a net loss of $2 million in first-quarter 2005.

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More News from 5/8/2006