Wabash National Corp., which designs, manufactures and markets truck trailers, announced results for the three months ended March 31, 2003.
Net sales for the first quarter were $223 million compared to $162 million for the same period last year. Net income for the period was $1.4 million compared to a net loss of $14.6 million for the same period last year. And diluted income per share was $0.05 for the quarter compared to a loss of $0.65 per share for the 2002 quarter.
Commenting on the quarter, William P. Greubel, president and chief executive officer, said, "We are very pleased to be able to report the first profitable quarter in over two years. New trailer demand and production in the first quarter, while nearly double that of depressed levels of the same period last year, increased approximately 10% on a sequential basis. The improvements are consistent with our view that industry demand continues to grow albeit at a slow pace."
Wabash National Corp. markets standard and customized truck trailers under the Wabash and Fruehauf brands.
Net sales for the first quarter were $223 million compared to $162 million for the same period last year. Net income for the period was $1.4 million compared to a net loss of $14.6 million for the same period last year. And diluted income per share was $0.05 for the quarter compared to a loss of $0.65 per share for the 2002 quarter.
Commenting on the quarter, William P. Greubel, president and chief executive officer, said, "We are very pleased to be able to report the first profitable quarter in over two years. New trailer demand and production in the first quarter, while nearly double that of depressed levels of the same period last year, increased approximately 10% on a sequential basis. The improvements are consistent with our view that industry demand continues to grow albeit at a slow pace."
Wabash National Corp. markets standard and customized truck trailers under the Wabash and Fruehauf brands.
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