American Railcar Industries, Inc. Reports Net Earnings of $2.7 Million for the Quarter Ended March 31, 2009

American Railcar Industries, Inc. (ARI or the Company) ARII today reported its first quarter 2009 financial results.

“Despite the impact of a weak economy on the freight railcar market, we shipped 1,491 railcars in the first quarter of 2009. Our current level of operations resulted in EBITDA of $14.1 million and net earnings of $2.7 million in the first quarter of 2009,” said James Cowan, President and CEO of ARI. “In addition to a solid manufacturing performance, our railcar services segment remained strong with $12.3 million of revenue for the first quarter of 2009. We are pleased with first quarter results, but the impact on railcar demand from the weak economy will require a slowing of new railcar shipments. We will continue to evaluate production levels at all locations and seek to align the workforce with industry demand. Our balance sheet continues to be a source of strength with $261.1 million in cash and $31.6 million in short-term investments.

for details visit
http://news.moneycentral.msn.com/ticker/article.aspx?Feed=BW&Date=20090506&ID=9876811&Symbol=ARII


posted by srikanth....july10