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American Railcar Industries, Inc. Reports Second Quarter Results Reflecting Continued Strength in Tank Railcar Shipments.

Article Excerpt
ST. CHARLES, Mo. -- American Railcar Industries, Inc. ("ARI" or the "Company") (NASDAQ: ARII) today reported its second quarter financial results.

"We continue to experience strong financial and operational performance in the tank railcar market and high levels of tank railcar shipments in 2008, which included shipments from our new flexible railcar facility at Marmaduke, Arkansas," said James J. Unger, President and CEO of ARI. "Our railcar manufacturing locations continue to generate strong labor efficiencies, which have had a positive effect on earnings throughout 2008. Offsetting the strong tank railcar shipments were lower shipments and selling prices in 2008 compared to 2007 for many of our hopper railcars due to market conditions. Our backlog was 8,219 railcars as of June 30, 2008."

For the three months ended June 30, 2008, revenues were $204.5 million and net earnings attributable to common shareholders were $6.2 million or $0.29 per diluted share. In comparison, for the three months ended June 30, 2007, the Company had revenues of $209.0 million and net earnings attributable to common shareholders of $11.0 million or $0.52 per diluted share. Earnings for the second quarter of 2008 included other losses of $1.5 million or $0.04 per diluted share, which was primarily related to an unrealized loss on the decrease in value during the second quarter of derivatives that are referenced to the common stock of The Greenbrier Companies, Inc. (NYSE: GBX) partially offset by realized gains on the sale of a portion of the Company's investment in The Greenbrier Companies, Inc. common stock.

Revenues and railcar shipments decreased in the second quarter of 2008 compared to the same period in 2007, primarily due...

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