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!

FreightCar America, Inc. Reports Second Quarter 2013 Results

FreightCar America, Inc. (NASDAQ: RAIL) today reported results for the second quarter ended June 30, 2013, with revenues of $47.1 million and a net loss of $3.4 million, or $(0.29) per diluted share. For the same quarter in 2012, the Company reported revenues of $181.2 million and net income of $5.6 million, or $0.46 per diluted share. Revenues were $87.6 million with a net loss of $2.6 million, or $(0.22) per diluted share, in the first quarter of 2013.

“Given the ongoing weakness in our traditional freight railcar market, we continue to focus on the diversification of our product offerings, as exemplified by the successful startup of the Shoals, Alabama facility to produce non-coal cars and the improving returns from our Services business this quarter,” said Ed Whalen, Chief Executive Officer. “We remain vigilant in managing our costs and believe that execution against the factors that are within our control will position us well for the future.”

The Company delivered 710 railcars in the second quarter of 2013, which included 160 new railcars, 200 leased railcars, and 350 rebuilt railcars. This compares to 2,786 railcars delivered in the second quarter of 2012 and 1,073 railcars delivered in the first quarter of 2013. There were 693 units ordered in the second quarter of 2013, which included an order for our recently introduced intermodal well cars. This compares to 961 units ordered in the second quarter of 2012 and 274 units ordered in the first quarter of 2013. Total manufacturing backlog was 2,065 units at June 30, 2013, compared to 5,109 units at June 30, 2012 and 2,082 units at March 31, 2013. Subsequent to quarter end, orders for over 5,500 railcars were received, which include orders for about 4,000 rebuilt coal cars to serve the Eastern coal market.

The Manufacturing segment had revenues of $37.1 million in the second quarter of 2013, compared to $171.8 million in the same period of 2012 and $77.7 million in the first quarter of 2013. Manufacturing segment operating loss was $1.0 million in the second quarter of 2013, compared to operating income of $15.3 million in the second quarter of 2012 and $2.1 million in the first quarter of 2013.

1 of 4

Select the service that is right for you!

COMPARE ALL SERVICES
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 16,919.59 +80.85 0.48%
S&P 500 1,981.60 +9.86 0.50%
NASDAQ 4,527.5140 +19.2020 0.43%

Brokerage Partners

Rates from Bankrate.com

  • 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