LAFAYETTE, Ind. — Trailer-maker Wabash National says net sales for the fourth quarter ending Dec. 21 were US$274.8 million, down from $358 million a year earlier.
Net income for the quarter was $83,000 before restructuring and other nonrecurring charges, compared to $11.8 million for the same period last year.
Restructuring and other nonrecurring charges recorded during the fourth quarter, 2000 were $46.6 million pre-tax, or $28.5 million or $1.25 per share after-tax.
For the year ended Dec. 31, net sales were $1.3 billion compared to $1.5 billion for 1999.
Net income for 2000 totaled $21.7 million, before restructuring and other nonrecurring charges, compared to $38.8 million in net income for 1999.
Diluted earnings per share, before restructuring and other nonrecurring charges, were 2 cents for the fourth quarter, compared to 49 cents in 1999.
The company says its results where impacted by lower production rates and the costs associated with the start-up of our new manufacturing processes in our Tennessee plant.