Wabash Swings to First-Quarter Profit

Trailer manufacturer Wabash National Corp. reported a first-quarter profit on improved sales, turning around a loss from a year ago.

Net income was $3.2 million, or 5 cents a share, compared with a loss of $139.1 million, or $4.64, a year ago. Sales almost tripled, rising to $222 million, from $78 million.

New trailers sold in the quarter jumped to 8,900 from 2,600 a year ago, Lafayette, Ind.-based Wabash said in a statement.

Because ACT Research recently raised its forecast for 2011 industry trailer volumes to about 200,000 units, Wabash boosted its new trailer shipment expectations for 2011 to 45,000 to 47,000 units, said CEO Dick Giromini.