Exhibit 99.1
         
Press Contact: Allison Henk
Marketing Communications Manager
(765) 771-5674
  (WABASH LOGO)   Investor Relations:
(765) 771-5310
FOR IMMEDIATE RELEASE
Wabash National Corporation Announces
2008 Fourth Quarter and Full Year Results
LAFAYETTE, Ind. — February 16, 2009 — Wabash National Corporation (NYSE: WNC) reported a net loss of $110.7 million, or $3.69 per diluted share, for the fourth quarter of 2008 on net sales of $230.7 million. For the same quarter last year, the Company reported net income of $5.6 million, or $0.18 per diluted share, on net sales of $257.8 million. For the twelve months ending December 31, 2008, net losses totaled $124.7 million, or $4.16 per diluted share, on net sales of $836.2 million. For the comparable period in 2007, the Company reported net income of $16.3 million, or $0.52 per diluted share, on net sales of $1.1billion.
Fourth quarter and full year 2008 results include previously announced non-cash charges related to a goodwill impairment of $66.3 million and a charge to income tax expense of approximately $23.1 million related to establishing a full valuation allowance on previously established net deferred tax assets. Results for the fourth quarter and full year 2007 include the recognition of $3.3 million of foreign currency gains related to the Company’s sale of its Canadian branches and a gain of $0.5 million on the early retirement of long-term debt.
Dick Giromini, President and Chief Executive Officer, stated, “Today’s operating environment within the markets we serve is as challenging as any in the history of Wabash National and the broader industry. As expected, the fourth quarter proved to be the most difficult quarter of the year, as margins were adversely impacted by the overhang of high raw material costs from prior periods, combined with a challenging pricing environment. To a lesser extent, our performance during the quarter was also impacted by fewer production days related to the holiday season and an extended annual shutdown. Despite these challenges, we nonetheless were successful in increasing our market share as a result of our industry-leading product offerings and the strength of our customer base. Additionally, our diversification efforts received a jumpstart with the award of the PODS® manufacturing agreement, and the ramp-up of our Cadiz, KY aluminum flatbed and dump acquisition.
“Our order backlog as of December 31, 2008 was approximately $110 million driven by slow order placement as customers continue to maintain a wait and see approach,” continued Giromini. “In response to the near-term outlook for the broader economy, our industry, and for Wabash National, we continue to

 


The following information was filed by Wabash National Corp De (WNC) on Tuesday, February 17, 2009 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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