Wabash Reports First-Quarter Loss

Trailer maker Wabash National Corp. reported a first-quarter loss was $6.4 million, or 21 cents a share, compared with a profit of $1 million, or 3 cents, a year ago.

Net sales fell to $161 million, from $258.9 million a year ago, Wabash said in a statement.

“The volume decline reflects the current economic environment and the continuing recessionary conditions in the transportation industry,” the company said in a statement.

“Given the current trailer demand environment, we now anticipate total new trailer sales for the year to be 38,000 units,” said Chief Executive Officer Dick Giromini.