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Trinity Industries, Inc. Reports Strong Fourth Quarter And Full Year 2012 Results

During the fourth quarter of 2012, the Railcar Leasing and Management Services Group reported leasing and management revenues of $132.6 million compared to $127.4 million in the fourth quarter of 2011 due to continued growth in the lease fleet and higher rental rates. In addition, the Group recognized revenue of $18.1 million in sales of railcars from the lease fleet during the fourth quarter compared to $29.2 million in the fourth quarter of 2011. Proceeds from the sale of railcars from the lease fleet owned for more than a year at the time of sale totaling $31.4 million in the fourth quarter of 2012 and $42.7 million in the fourth quarter of 2011 are not included in revenue. Operating profit for this Group was $72.9 million for the fourth quarter of 2012 compared to operating profit of $75.9 million during the fourth quarter of 2011. Included in the operating results for the fourth quarter of 2012 were $15.3 million of profit from railcar sales totaling $49.5 million compared to $18.4 million of profit from railcar sales totaling $71.9 million for the same period last year.

The Inland Barge Group reported revenues of $165.4 million compared to revenues of $149.6 million in the fourth quarter of 2011. The increase in revenues was due to higher volumes and a change in mix of barge types. Operating profit for this Group was $31.2 million in the fourth quarter of 2012 compared to $39.6 million in the fourth quarter of 2011. Fourth quarter 2011 operating profit included a gain of $17.0 million due to flood-related insurance settlements. During the fourth quarter of 2012, the Inland Barge Group received orders of $193 million, and as of December 31, 2012 had a backlog of $564 million compared to a backlog of $537 million as of September 30, 2012.

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