Freight Car America sees

FreightCar America, Inc. reported second quarter revenues of $97.6 million and net income of $0.2 million, or $0.02 per diluted share. For the first quarter of 2011, the company had revenues of $72.2 million and a net loss of $1.3 million, or $0.11 per diluted share. For the second quarter of 2010, the revenues were $31.0 million and the net loss was $1.3 million, or $0.11 per diluted share.

“The second quarter results reflect improved demand for our railcars, especially coal-carrying railcars, sales of certain leased railcars, and a tax benefit resulting from a change in our effective tax rate,” said Ed Whalen, President and Chief Executive Officer. “Second quarter 2011 Manufacturing segment operating income improved from the prior quarter, but continued to be negatively impacted by competitive pricing and associated pressure on margins. The market continues to send mixed signals concerning the pace of recovery.”

The company delivered 1,309 railcars in the second quarter of 2011, of which 1,219 were new and 90 leased. This compares to 875 new and used railcars delivered in the first quarter of 2011 and 614 new, used, and leased railcars delivered in the second quarter of 2010. There were 1,089 units ordered in the second quarter of 2011, compared to 4,027 units ordered in the first quarter of 2011 and 14 units ordered in the second quarter of 2010. Total manufacturing backlog was 4,986 units on June 30, 2011, compared to 5,206 units on March 31, 2011 and 3,000 units on June 30, 2010.