Wabash National's losses grow

July 23, 2003
Trailer maker Wabash National Corp. said that its net loss for the second quarter was $27 million, including a $29 million non-cash charge related to planned asset divestitures, compared to a net loss of $22 million for the same period last year. The Lafayette, IN-based company's net sales for the second quarter were $230 million compared to $210 million for the same period last year. Despite the
Trailer maker Wabash National Corp. said that its net loss for the second quarter was $27 million, including a $29 million non-cash charge related to planned asset divestitures, compared to a net loss of $22 million for the same period last year.

The Lafayette, IN-based company's net sales for the second quarter were $230 million compared to $210 million for the same period last year.

Despite the widening loss, things may be looking up financially for Wabash National.

Yesterday, the company said it agreed to sell substantially all of the assets of its trailer leasing and rental and wholesale aftermarket parts distribution businesses to Aurora Trailer Holdings LLC for about $70 million.

Also yesterday, truckload carrier U.S.Xpress Enterprises Inc. signed a three-year order agreement worth more than $120 million for more than 7,000 Wabash National DuraPlate trailers.

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