The Company’s net loss for the third quarter of 2010 was affected by the factors discussed above, an increase in net interest expense, a decrease in other income and an increase in income tax benefit.For the nine months ended September 30, 2010, revenues were $178.3 million and net losses were $19.2 million or $0.90 per share. In comparison, for the nine months ended September 30, 2009, revenues were $345.0 million and net earnings were $5.0 million or $0.23 per share. Revenues were lower in the nine months ended September 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 nine months ended September 30, 2010, the Company shipped approximately 1,130 new railcars as compared to approximately 3,080 new railcars in the same period of 2009.
American Railcar Industries, Inc. Reports Third Quarter 2010 Results
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