Wabash’s Second-Quarter Loss Widens

Trailer manufacturer Wabash National Corp. lost $17.9 million, or 59 cents a share, in the second quarter, compared with a loss of $3.2 million, or 11 cents, a year ago.

Net sales fell to $86.2 million from $201.5 million, as new trailer sales fell 60% to 3,200 units, the company said late Wednesday.

Its operating results “were substantially improved compared to the results for the prior two quarters in spite of continued depressed demand for new trailers,” Wabash said in a statement.

The second-quarter operating loss of $16.7 million compared with opearting losses of $27.3 million in the first quarter and $87.2 million in the fourth quarter 2008, which included a goodwill impairment charge of $66.3 million.

Wabash said Monday it had completed a $35 million investment in the company by a private equity firm.