Wabash National’s 3Q Operating Loss Narrows
Trailer manufacturer Wabash National Corp. said its third-quarter loss widened but its operating loss declined from the same quarter last year.
The company lost $66.4 million, or $2.23 cents a share, in the third quarter, compared with a loss of $4.3 million, or 15 cents, in last year’s third quarter.
Its operating loss fell to $10.2 million for the quarter, compared with an operating loss of $16.7 million for the second quarter of 2009
Net sales fell to $88.3 million, from $243 million a year ago, Wabash said late Wednesday.
Chief Executive Officer Dick Giromini said he sees signs the economy may be turning around, noting “several encouraging signs in the macroeconomic landscape.”
“Total manufacturing inventories appear to be bottoming and both tonnage and net trailer orders are incrementally increasing,” he said in a statement. “While the operating environment will likely remain challenging for the near-term, we believe the worst is now behind us.”
