FreightCar America in black in 2d qtr.
Aug 11, 2014 | 04:56 PM
| Frank Haflich
LOS ANGELES FreightCar America Inc. returned to profitability in the second quarter amid higher deliveries and improved revenue, with the company looking for rising hopper car orders to bolster its declining dependence on coal cars.
The Chicago-based rail car builder posted net income of $1.6 million for the three months ended June 30, in contrast to a net loss of $3.4 million in the same period last year, on revenue that nearly tripled to $139.7 million from $47.1 million.
"Deliveries, revenue and net income were at their highest levels since the third quarter of 2012," president and chief executive officer Joseph E. McNeely said in a statement accompanying the companys earnings results, adding that FreightCar Americas manufacturing backlog is at its "highest quarter-end level since 2006."....
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