Wabtec Corp. (WAB: Quote) reported net income attributable to the company's shareholders of $64.71 million or $1.33 per share for the second quarter, a surge from $36.33 million or $0.75 per share earned a year ago.
Net sales for the quarter clinbed to $609.82 million from last year's $478.9 million.
Analysts polled by Thomson Reuters expected the company to report earnings of $1.23 per share on revenues of $577.43 million for the quarter. Analysts' estimates typically exclude special items.
Albert Neupaver, Wabtec's president and chief executive officer, said, "We had another strong quarter and are positioned to perform well in the second half of the year. The company continues to benefit from rigorous application of the Wabtec Performance System, its diverse business model and ongoing investments in strategic growth initiatives. Recently, we completed two acquisitions in support of our growth strategies: Mors Smitt, which expanded our geographic footprint; and Tec Tran, which added hydraulic braking technology."
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by RTT Staff Writer
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