AMERICAN Railcar Industries’ sales for the year to December 31 2005 were $608·2m, with net earnings attributable to common stock of $1·5 million, or $0·14 per diluted share. This was up from 2004 sales of $355·1m and a net loss attributable to common stock of $11·3m or $1·12 per diluted share.
Improvements in earnings resulted primarily from increased sales, improved efficiencies and the recovery of raw material cost increases through escalation clauses in contracts. Ebitda was $34·1m for the year 2005, up from $9·6m in 2004, and Ebitda after adjustments was $13·6m, reflecting a retirement benefit plan separation agreement.
The wagon builder shipped 1895 vehicles in the fourth quarter of 2005, comprising 1481 covered hopper cars and 414 tank cars. In 2005 it supplied 6875 wagons, up from 4384 in 2004. The 2005 shipments comprised 4240 covered hoppers, 785 flat cars and 1850 tank wagons.
’We are pleased with ARI’s performance in the fourth quarter and for the full year 2005’, said President & CEO James J Unger. ’In addition to our strong financial performance, our substantial backlog of unfilled orders for new railcars totalled 14510 cars at December 31 2005 - a 92% increase compared with the 7547 cars in the backlog at December 31 2004 - and will provide a platform for future growth. We look forward to continued strong performance in 2006.’
