Wabash National Corp reported that its second-quarter gross margin percentage was the best since the first quarter of 2006.
“We are pleased with our progress this quarter despite a challenging environment,” said Dick Giromini, president and chief executive officer. “The performance of our manufacturing organization, complemented by our aggressive strategic sourcing and pricing initiatives, has allowed us to achieve our best gross margin percentage since the first quarter of 2006. While the continued weak freight environment constrained new trailer sales to 12,500 units for the quarter, it represents a 14% increase from the prior quarter.”
Wabash reported net income of $5.9 million, or $0.18 per diluted share, for the second quarter of 2007 on net sales of $294.8 million. For the same quarter in 2006, the company reported net income of $5 million, or $0.15 per diluted share, on revenue of $333.6 million.
For the six months ended June 30, 2007, net income totaled $6.9 million, or $0.22 per diluted share on sales of $553.7 million. In the comparable period of 2006, the company reported net income of $9.4 million, or $0.29 per diluted share on sales of $595.7 million.