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Rail News: Financials
Yesterday, Wabtec Corp. reported third-quarter earnings per diluted share of 32 cents, a 55 percent rise compared with third-quarter 2004 and the company’s sixth-consecutive quarter of year-over-year share increases.
Wabtec’s quarterly net income of $15.1 million and sales of $255.9 million went up 60 percent and 26 percent, respectively, compared with the same 2004 period. Driven by strong locomotive and freight-car component demand, sales reached the company’s second-highest quarterly total. Operating expenses totaling $39.8 million dropped 1 percent because lower sales, administrative and engineering costs offset slightly higher amortization expenses.
“Our action plans … initiated within the past year are beginning to have a significant impact,” said Wabtec Chairman, President and Chief Executive Officer William Kassling in a prepared statement. “These actions include lower-cost sourcing, internal productivity programs and applying our traditional lean principles throughout the organization.”
10/26/2005
Rail News: Financials
Wabtec's third-quarter sales up, expenses down
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Yesterday, Wabtec Corp. reported third-quarter earnings per diluted share of 32 cents, a 55 percent rise compared with third-quarter 2004 and the company’s sixth-consecutive quarter of year-over-year share increases.
Wabtec’s quarterly net income of $15.1 million and sales of $255.9 million went up 60 percent and 26 percent, respectively, compared with the same 2004 period. Driven by strong locomotive and freight-car component demand, sales reached the company’s second-highest quarterly total. Operating expenses totaling $39.8 million dropped 1 percent because lower sales, administrative and engineering costs offset slightly higher amortization expenses.
“Our action plans … initiated within the past year are beginning to have a significant impact,” said Wabtec Chairman, President and Chief Executive Officer William Kassling in a prepared statement. “These actions include lower-cost sourcing, internal productivity programs and applying our traditional lean principles throughout the organization.”
