May 1, 2007 10:00 AM, EDT

Wabash Sees 1Q Income Drop

TT File Photo

Trailer maker Wabash National Corp. reported first-quarter net income of $1 million or 3 cents a share, down from $4.3 million or 13 cents a year earlier.

Net sales dipped to $259 million from $262 million a year ago.

Wabash’s new trailer shipments totaled 11,000 units in the quarter, as the addition of Transcraft Corp.’s platform trailer sales offset reduced dry van trailer sales.

“Recent quote activity is good; however, order conversion remains constrained as customers continue to monitor economic conditions,” said Wabash Chief Executive Officer Dick Giromini.

“We currently have approximately 75% of our 52,000 unit target for 2007 booked,” he said in a statement.