Press Contact: Dana Stelsel

Corporate Communications Manager

(765) 771-5766

Investor Relations: Jeff Taylor

Senior Vice President and

Chief Financial Officer

(765) 771-5310

 

FOR IMMEDIATE RELEASE

 

Wabash National Corporation Announces

 

Fourth Quarter and Full Year 2013 Results

 

·Record net sales of $1.64 billion for full year 2013, up 11.9 percent over prior year  

 

·Record operating income of $103.2 million for full year 2013, up 46.4 percent over prior year  

 

·Record quarterly net sales of $458 million for 4th quarter 2013, up 10.2 percent over prior year  

 

·Record annual gross profit and profit margins of $215.1 million and 13.2 percent, respectively  

 

 

LAFAYETTE, Ind. – February 5, 2014 – Wabash National Corporation (NYSE: WNC) reported fourth quarter 2013 net income of $10.4 million, or $0.15 per diluted share on record quarterly net sales of $458 million compared to fourth quarter 2012 net income of $80.2 million, or $1.16 per diluted share on net sales of $416 million. The Company’s fourth quarter 2013 results include the impact of an early extinguishment of debt charge totaling $0.6 million related to a $20 million term loan prepayment made in December 2013. Excluding the impact of this item, non-GAAP adjusted earnings for the fourth quarter were $10.8 million, or $0.15 per diluted share. Earnings for the quarter ended December 31, 2012 included an income tax benefit of $59.0 million, or $0.86 per diluted share, primarily related to the reversal of the Company’s valuation allowance against its net deferred tax assets. Excluding the income tax benefit and other one-time charges of $0.5 million related to the acquisitions of Walker Group Holdings (“Walker”) on May 8, 2012 and certain assets of Beall Corporation (“Beall”) on February 4, 2013, non-GAAP adjusted earnings were $21.7 million, or $0.32 per diluted share for the fourth quarter of 2012. Furthermore, if the tax rate used in computing the fourth quarter of 2012 results was 40 percent, consistent with the tax rate in 2013, non-GAAP adjusted earnings per share for the fourth quarter of 2012 would have been reduced to $0.19 per diluted share.

 

For the twelve months ended December 31, 2013 the Company reported net income of $46.5 million, or $0.67 per diluted share, on net sales of $1.64 billion, compared to net income of $105.6 million, or $1.53 per diluted share, on net sales of $1.46 billion for the twelve months ended December 31, 2012. Full year 2013 results included one-time charges of $2.8 million, or $0.03 per diluted share, related to the early extinguishment of debt and the acquisitions of Walker and certain assets of Beall. Full year 2012 results included one-time charges of $18.2 million, or $0.27 per diluted share, related to the acquisitions of Walker and certain assets of Beall as well as the income tax benefit from the reversal of the Company’s valuation allowance against its net deferred tax assets. Excluding the impact of these items, non-GAAP adjusted earnings for full year 2012 were $64.8 million, or $0.95 per diluted share. Furthermore, if the tax rate used in computing prior period results was 40 percent, consistent with the tax rate in 2013, non-GAAP adjusted earnings per share for the full year 2012 would have been lowered to $0.57 per diluted share.

 


The following information was filed by Wabash National Corp De (WNC) on Wednesday, February 5, 2014 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.

View differences made from one year to another to evaluate Wabash National Corp De's financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

Compare this 10-K Annual Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by Wabash National Corp De.

Continue

Never Miss A New SEC Filing Again


Real-Time SEC Filing Notifications
Screenshot taken from Gmail for a new 10-K Annual Report
Last10K.com Member Feature

Receive an e-mail as soon as a company files an Annual Report, Quarterly Report or has new 8-K corporate news.

Continue

We Highlighted This SEC Filing For You


SEC Filing Sentiment Analysis - Bullish, Bearish, Neutral
Screenshot taken from Wynn's 2018 10-K Annual Report
Last10K.com Member Feature

Read positive and negative remarks made by management in their entirety without having to find them in a 10-K/Q.

Continue

Widen Your SEC Filing Reading Experience


Increased Reading Area for SEC Filings
Screenshot taken from Adobe Inc.'s 10-Q Quarterly Report
Last10K.com Member Feature

Remove data columns and navigations in order to see much more filing content and tables in one view

Continue

Uncover Actionable Information Inside SEC Filings


SEC Filing Disclosures
Screenshot taken from Lumber Liquidators 10-K Annual Report
Last10K.com Member Feature

Read both hidden opportunities and early signs of potential problems without having to find them in a 10-K/Q

Continue

Adobe PDF, Microsoft Word and Excel Downloads


Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshots of actual 10-K and 10-Q SEC Filings in PDF, Word and Excel formats
Last10K.com Member Feature

Export Annual and Quarterly Reports to Adobe PDF, Microsoft Word and Excel for offline viewing, annotations and analysis

Continue

FREE Financial Statements


Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshot of actual balance sheet from company 10-K Annual Report
Last10K.com Member Feature

Get one-click access to balance sheets, income, operations and cash flow statements without having to find them in Annual and Quarterly Reports

Continue for FREE

Intrinsic Value Calculator


Intrinsic Value Calculator
Screenshot of intrinsic value for AT&T (2019)
Last10K.com Member Feature

Our Intrinsic Value calculator estimates what an entire company is worth using up to 10 years of financial ratios to determine if a stock is overvalued or not

Continue

Financial Stability Report


Financial Stability Report
Screenshot of financial stability report for Coco-Cola (2019)
Last10K.com Member Feature

Our Financial Stability reports uses up to 10 years of financial ratios to determine the health of a company's EPS, Dividends, Book Value, Return on Equity, Current Ratio and Debt-to-Equity

Continue

Get a Better Picture of a Company's Performance


Financial Ratios
Available Financial Ratios
Last10K.com Member Feature

See how over 70 Growth, Profitability and Financial Ratios perform over 10 Years

Continue

Log in with your credentials

or    

Forgot your details?

Create Account