This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

American Railcar Industries, Inc. Reports Results For The Fourth Quarter And The Year Ended December 31, 2010

Stocks in this article: ARII

ST. CHARLES, Mo., Feb. 23, 2011 (GLOBE NEWSWIRE) -- American Railcar Industries, Inc. (ARI or the Company) (Nasdaq:ARII) today reported its fourth quarter 2010 financial results.

"During 2010, the railcar industry saw railcar loadings increase by almost 10%, orders for approximately 30,000 new railcars and a reduction of approximately 130,000 railcars in storage, according to an independent third party industry analyst," said James Cowan, President and CEO of ARI. "We received orders for approximately 2,590 new railcars during 2010 and order activity has begun to increase significantly thus far in 2011. Since our announcement of our intent to enter into the railcar leasing business, we have been actively quoting leases to our customers. Our railcar services segment grew by 16% in 2010 over the prior year, with 2010 revenues of $67.5 million. This growth resulted from higher volumes at our railcar repair plants and repair work performed at our railcar manufacturing plants."

For the three months ended December 31, 2010, revenues were $95.3 million and net losses were $7.8 million or $0.37 per share. In comparison, for the three months ended December 31, 2009, revenues were $78.5 million and net earnings were $10.5 million or $0.50 per share. Net earnings for the three months ended December 31, 2009 included a pre-tax gain on the sale of corporate bonds of $20.8 million. Revenues were higher in the fourth quarter of 2010 when compared to the same period of 2009 primarily due to higher railcar shipments and increased railcar repair volumes, all partially offset by an overall decrease in average selling prices due to competitive pricing and a change in product mix. During the three months ended December 31, 2010, the Company shipped approximately 950 new railcars as compared to approximately 600 new railcars in the same period of 2009. Our new railcar order backlog was approximately 1,050 railcars as of December 31, 2010.

1 of 5

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 18,053.71 +23.50 0.13%
S&P 500 2,088.77 +6.89 0.33%
NASDAQ 4,806.8590 +33.3870 0.70%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs