Wabash National net income for fourth quarter 2000 dropped to $83,000 from $11.8 million in fourth quarter 1999;
sales for the quarter were $274.8 million compared to $358 million.
Those results don’t include $46.6 million in restructuring and other non-recurring charges taken in the quarter. For the year, net income was $21.7 million on sales of $1.3 billion, compared to $38.8 million on sales of $1.5 billion for 1999.
The quarterly results were impacted by lower production rates and the costs associated with the start-up of new manufacturing processes in the company’s Tennessee plant, said Chairman, President and CEO Jerry Ehrlich. The balance of its manufacturing operations maintained their margin levels despite lower production.