Wabash National Sales Soften
Feb 21, 2001 12:00 PM, Bruce Sauer
Wabash National Corporation announced sales of $274 million in the fourth quarter of 2000, down from $358 million for the same period last year.
Net income for the quarter was $83,000 before restructuring and other nonrecurring charges, compared with $11.8 million for the same period in 1999.
For all of 2000, Wabash had net sales of $1.3 billion, compared to $1.5 billion for 1999. Net income for 2000 totaled $21.7 million, compared with $38.8 million in 1999.
“Results for the fourth quarter were approximately breakeven before restructuring charges and other nonrecurring charges that we previously announced,” said Jerry Ehrlich, chairman, president, and chief executive officer. “The quarter’s results were impacted by lower production rates and the costs associated with the startup of our new manufacturing processes in our Tennessee plant. The balance of our manufacturing operations maintained their margin levels despite the lower production rate.”
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