Rochester, NY 8/19/2009 6:17:48 PM
Wabash National Corporation, WNC - Wabash National Corporation Release Second Quarter Financial Results
Wabash National Corporation
Wabash National Corporation post company’s net loss of $17.9 million, or $0.59 per diluted share, for the second quarter of fiscal year 2009 earning a net sale of $86 million. As compared to the company’s reported net loss of $3.2 million, or $0.11 per diluted share during the same quarter a year ago. Company’s new trailer sale for the second quarter totaled 3,200 units, which represents a 60% decline from the prior year period.
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"Following the quarter end, as previously announced, we completed the steps to strengthen our balance sheet and liquidity position, which provides us with additional financial flexibility to navigate the current environment. In addition, we reported a significantly reduced operating loss this quarter as compared to the prior two quarters despite the continuing depressed level of trailer demand, reflecting the flow through benefit of our cost reduction efforts. While we will continue to prudently manage the business in the near term, we remain committed to our long-term transformation initiatives and are now well-positioned for profitable growth as the economy recovers." Wabash National Corporation President and Chief Executive Officer Dick Giromini, stated.
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