American Railcar Q4 net earnings increase

American Railcar Industries, Inc., a designer and manufacturer of hopper and tank railcars, has reported that net earnings for the fourth quarter ended December 31, 2012 were $24.45 million, or $1.14 per share, compared to $5.07 million, or $0.24 per share, for the fourth quarter ended December 31, 2011.

Total revenues for the fourth quarter ended December 31, 2012 were $207.68 million, compared to $196.84 million for the fourth quarter ended December 31, 2011.

Net earnings for the year ended December 31, 2012 were $63.82 million, or $2.99 per share, compared to $4.34 million, or $0.20 per share, for the year ended December 31, 2011.

Total revenues for the year ended December 31, 2012 were $711.72 million, compared to $519.38 million for the year ended December 31, 2011.

"We are pleased with our record financial performance, operating results and ability to leverage our growing fleet of leased railcars with financing at attractive terms," said James Cowan, president and CEO of ARI. "The shipments for tank railcars remained strong, which provided us with a favorable sales mix during the quarter. Strong tank railcar volumes generated operational leverage and efficiencies that were partially offset by lower shipments of hopper railcars. During the quarter we received orders for 1,430 railcars, resulting in a backlog of 7,060 railcars."