FreightCar America (RAIL) Tops Q1 EPS Views, But Sales Plunge
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FreightCar America Inc. (Nasdaq: RAIL) reports Q1 EPS of $0.22, 9 cents better than the analyst estimate of $0.13. Revenue for the quarter was $39.6 million, versus $95.1 million last year and the consensus of $109.93 million.
Net orders for new railcars totaled 339 units in the first quarter of 2009, which represents a decrease of 1,367 units or 80% from 1,706 units ordered in the fourth quarter 2008. Gross margin rate for the first quarter of 2009 was 26.6% compared to 9.8% for the first quarter of 2008.
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