FreightCar America expects a “difficult” 2010
Written by William C. Vantuono, Editor-in-ChiefFreightCar America has announced a fourth-quarter loss of $5.5 million, or 47 cents ashare, compared with $12 million, or $1.01 a share, a year ago. The company said it “does not expect market conditions to materially improve” in 2010.
“We expect that the new-car market in 2010 will be even more difficult than in 2009,” CEO Ed Whalen said in a statement.
The company said it “continues to evaluate market adjacent strategic initiatives to broaden its revenue sources, including refurbishment, aftermarket parts and services, and international expansion.”
Railcar deliveries totaled 697 units in the quarter. The backlog of unfilled orders was 265 units at the end of the quarter.
