Wabash National Corp.reported its fourth-quarter net income dropped,but revenue increased.
Fourth-quarter net income dropped to$10.4 million,or 15 cents per share,from$80.2 million,or$1.16 per share,a year ago,the company reported Feb.5.Revenue increased to$458 million from$416 million in the same period last year.
Net sales of Wabash's commercial-trailer products increased 25.5%to$324 million.Trailer operating income rose about$1.5 million to$14.3 million on increased volume.
Wabash shipped about 13,500 new trailers in the quarter,3,300 more than the prior year.
Full-year net income dropped to$46.6 million,or 67 cents per share,from$105.6 million,or$1.53,per share a year prior.Net sales increased to$1.64 billion from$1.46 billion in 2012.
