Wabash National announces 2008 fourth quarter results

Wabash National Corporation reported a net loss of $110.7 million, or $3.69 per diluted share, for the fourth quarter of 2008 on net sales of $230.7 million. For the same quarter in 2007 Wabash reported net income of $5.6 million, or $0.18 per diluted share, on net sales of $257.8 million. For the twelve months ending December 31, 2008, net losses totaled $124.7 million, or $4.16 per diluted share, on net sales of $836.2 million. For the comparable period in 2007, Wabash reported net income of $16.3 million, or $0.52 per diluted share, on net sales of $1.1 billion.
Wabash National actions include staffing reductions now totaling 180 salaried associates, bringing total salaried headcount reductions to more than 30 percent since the early 2007. The company implemented base salary reductions of 10 percent for all officers of the company and temporary reductions of 10 percent of annualized base salary for all remaining salaried associates.