SAINT-GEORGES, QC- Trailer manufacturer Manac Inc. has reported a net income of $3.5 million for the fourth quarter of 2014, higher than the $2.7 million it posted for the third quarter of 2014, but lower than the $4.8 million it posted for the fourth quarter of 2013.

Revenues for the fourth quarter totaled $99.3 million, compared with $69.9 million for the same period in 2013, an increase of 42 percent.

For the year 2014, net income was $9.7 million, compared with a net income of $13.1 million for 2013.

“2014 has been a solid year for both Manac and the industry,” said Charles Dutil, president and CEO. “Growth through our traditional product lines, supported by the mid-year acquisition of Peerless, generated record revenues for Manac. Our efforts in the LEAN transformation of our operations continued during the year and remain a key priority for the near future. Our 2014 results do not fully reflect these efforts as the increase in production volume necessitated the hiring and training of over 500 employees during the year and the continued decrease of the value of the Canadian dollar versus the US dollar had a short-term negative impact on our margins, notwithstanding it is very positive for future margins.”

“Given the level of our year-end backlog, the decreased value of the Canadian dollar versus the US dollar and the very solid industry conditions, we enter 2015 with a high level of optimism,” Dutil, added.

Manac’s backlog reached a record level in the fourth quarter and totaled $173.5 million on December 31, 2014, compared to $121.4 million on September 27, 2014 and $78.4 million on December 31, 2013.