Wabash reduces losses in 3Q

Trailer manufacturer Wabash National Corp. sharply reduced its financial losses in the third quarter, though it is still struggling to return to profitability. Lafayette, IN-based Wabash said it lost $8.3 million on net sales of $241.5 million in the third quarter, compared to losses of $61.4 million on net sales of $242 million in the same quarter last year. For the first nine months of 2002, the

Trailer manufacturer Wabash National Corp. sharply reduced its financial losses in the third quarter, though it is still struggling to return to profitability.

Lafayette, IN-based Wabash said it lost $8.3 million on net sales of $241.5 million in the third quarter, compared to losses of $61.4 million on net sales of $242 million in the same quarter last year.

For the first nine months of 2002, the company lost $44.6 million on net sales of $613.7, compared to a loss of $97.2 million on net sales of $696.7 million.

President & CEO William Greubel noted that Wabash took $4.1 million worth of charges in the third quarter to cover expenses associated with debt reduction and, efficiency improvements. The company is also investing $2 million in new assembly line technology to produce its aluminum and DuraPlate trailers at its Lafayette factory.

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