The Company’s net loss for the second quarter of 2010 was affected by lower operating earnings, as discussed above and an increase in net interest expense.For the six months ended June 30, 2010, revenues were $113.5 million and net losses were $12.9 million or $0.61 per share. In comparison, for the six months ended June 30, 2009, revenues were $266.9 million and net earnings were $3.9 million or $0.18 per share. Revenues were lower in the six months ended June 30, 2010 when compared to the same period of 2009 primarily due to a decrease in railcar shipments, an overall decrease in average selling prices due to pricing pressures and a change in product mix. These decreases were partially offset by increased railcar repair volumes. During the six months ended June 30, 2010, the Company shipped approximately 710 railcars as compared to approximately 2,470 railcars in the same period of 2009.
American Railcar Industries, Inc. Reports Second Quarter 2010 Results
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