Wabtec Corp. net income increases in fourth quarter

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Wilmerding-based Wabtec Corp. today reported net income for the fourth quarter of $74 million, or 76 cents per share, up from $64.8 million, or 67 cents per share, a year ago.

The international freight and transit company said fourth-quarter income from operations was $111 million, compared to $100 million for the year ago quarter.

Sales were up 12 percent, to $681.5 million in the three months ended Dec. 31, due to higher sales in its freight and transit groups, the company said.

Excluding three cents in after-tax expenses, primarily for restructuring actions, earnings per share were 79 cents per share. That met analysts’ expectations, based on a poll by Thomson Reuters.

For the full year, Wabtec reported net income of $292.2 million, or $3.01 per share, compared to $251.7 million, or $2.60 per share, the previous year. Sales of $2.57 billion were up from $2.39 billion a year earlier.

The company is projecting 2014 earnings at $3.45 per share, with revenue growth of about 15 percent.

Kim Lyons: klyons@post-gazette.com or 412-263-1241. Twitter: @SocialKimly

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