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WABASH NATIONAL CORPORATION ANNOUNCES SIGNIFICANT INCREASE IN FOURTH QUARTER SALES AND EARNINGS

 LAFAYETTE, Ind., Jan. 18 /PRNewswire/ -- Wabash National Corporation (NYSE: WNC) announced today sales and income for the fourth quarter and year ended Dec. 31, 1992.
 Net sales for the fourth quarter were $85.4 million, a 67 percent increase over the $51.3 million for the same period last year. Net income for the quarter was up 77 percent at $3.7 million ($.33 per share) compared to pro forma net income of $2.1 million ($.21 per share) for the same period last year. For the year ended Dec. 31, 1992, net sales of $289.1 million were achieved, and net income totaled $8.9 million, ($.81 per share), compared to net sales of $190.5 million and pro forma net income of $6.8 million ($.78 per share) for 1991.
 Commenting on these results, Jerry Ehrlich, president and chief executive officer, stated: "The company's performance in 1992 was shaped by the heavy demand for Wabash products. Responding to this demand, the company decided to accelerate the timetable for achieving a number of its strategic objectives, including expansion of capacity for key products, expansion of share in key markets, advancement of our RoadRailer technology, development of certain product innovations and the launch of our finance company. The strong results in the fourth quarter reflected the efforts of the entire work force in improving our production efficiencies. We begin 1993 with a record backlog of $246 million (109 percent higher than the backlog at the beginning of 1992) that contains a mix of plate trailers, RoadRailers and refrigerated trailers. We are currently focused on the many challenges and opportunities that await us, particularly sustaining the recent improvement in our production efficiencies and capitalizing on the domestic and international interest in our RoadRailer technologies by both the truck and rail industry."
 Wabash National Corporation designs, manufactures and markets standard and customized truck trailers. The company believes that it is the second largest U.S. manufacturer and truck trailers, the leading manufacturer of both fiberglass reinforced plastic trailers and aluminum plate trailers, and, through its RoadRailer Division, the leading manufacturer of bimodal vehicles.
 WABASH NATIONAL CORPORATION
 Results of Operations
 (Dollars in thousands, except per share amounts)
 Periods ended Three months Year ended
 Dec. 31 1992 1991 1992 1991
 Net sales $85,435 $51,296 $289,097 $190,545
 Income before taxes 5,855 3,400 14,506 11,129
 Net income 3,650 2,057(A) 8,931 6,789(A)
 Net income per share 0.33 0.21(A) 0.81 0.78(A)
 (A) -- From Jan. 1, 1990 until the company's initial public offering in November 1991, the company was treated as an S Corporation and, accordingly, was not subject to corporate income taxes. Pro forma amounts for 1991 reflect a pro forma tax provision as if the company had been subject to corporate income taxes during the period.
 -0- 1/18/93
 /CONTACT: Donald J. Ehrlich of Wabash National Corporation, 317-449-5310/
 (WNC)


CO: Wabash National Corporation ST: Indiana IN: TRN SU: ERN

TS-OS -- NY014 -- 5798 01/18/93 09:51 EST
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Publication:PR Newswire
Date:Jan 18, 1993
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