Wabtec reported its profit attributable to shareholders in the fourth quarter of 2012 was $64.8 million, or diluted earnings per share of $1.34, jumping 40% from $46.3 million, or diluted earnings per share of $0.96, in the fourth quarter of 2011.
Total quarterly sales were $610.4 million, rising from $534.6 million in the same quarter in the previous year. Of that total, the freight group earned $342.3 million, falling 2% from $349.3 in the fourth quarter of 2011.
For the full year of 2012, net income attributable to Wabtec shareholders was $251.7 million, or $5.19 diluted earnings per share, increasing 48% from $170.1 million, or $3.51 diluted earnings per share, in 2011. Total annual sales were $2.4 billion, up from $2.0 billion in 2011. Freight sales specifically were $1.5 billion in 2012, up from $1.2 billion in 2011.
“The company’s performance in 2012 was strong, and we are anticipating another record year in 2013,” said Albert J. Neupaver, Wabtec’s president and CEO, in a written statement.
The provider of technology-based products and services for rail and industrial markets issued 2013 guidance for earnings per diluted share of about $5.85, with revenue expected to increase 8 to 10 percent for the year.