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Article: Wabtec Reports Increased Earnings From Continuing Operations and Strong Cash Flow for Third Quarter; Provides Earnings Guidance.
- Article from:
- PR Newswire
- Article date:
- October 17, 2002
CopyrightCOPYRIGHT 2002 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Wabtec Corporation today reported income from continuing operations of 12 cents per diluted share for the third quarter of 2002, compared to 9 cents for the year- ago quarter. The improved results were due to a higher gross margin, lower manufacturing and operating costs, and reduced interest expense, despite lower sales levels. During the quarter, the company generated operating cash flow to reduce debt, net of cash, by $9 million.
The company also reported cash earnings per diluted share of 14 cents and EBITDA from continuing operations of $17 million for the 2002 third quarter, compared to 14 cents and $20 million, respectively, in the year-ago quarter.
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