American railcar industries, inc. (ARII)
Income statement / Quarterly
Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12Dec'11Sep'11Jun'11Mar'11Sep'10Jun'10
Revenues:
Manufacturing (including revenues from affiliates of $2,564 for both the three and nine months ended September 30, 2018 and $188 and $325 for the same periods in 2017)

40,766

89,440

64,141

80,302

68,442

55,087

60,726

114,888

93,546

97,548

123,792

210,451

123,318

144,481

221,811

111,729

128,270

206,364

153,963

169,940

170,943

132,242

172,975

187,274

147,212

134,748

164,313

181,832

108,356

94,402

68,502

48,404

43,223

Railcar leasing (including revenues from affiliates of $404 and $1,219 for the three and nine months ended September 30, 2018, respectively, and $231 and $678 for the same periods in 2017)

32,427

34,804

34,121

34,138

33,440

33,717

33,835

33,470

32,798

33,209

32,768

32,739

31,174

28,216

24,585

22,258

17,219

13,885

11,746

9,500

8,301

7,527

6,543

5,129

4,267

2,668

1,380

427

259

195

194

-

-

Railcar services (including revenues from affiliates of zero and $17 for the three and nine months ended September 30, 2018, respectively, and $1,156 and $11,729 for the same periods in 2017)

26,791

22,284

17,976

17,956

18,864

20,216

20,120

19,149

18,618

19,727

19,620

17,705

18,175

19,301

17,380

16,553

17,353

17,260

16,406

17,739

19,655

19,635

15,592

15,277

16,751

16,798

15,906

14,586

17,169

17,316

16,147

16,393

17,942

Total revenues

99,984

146,528

116,238

132,396

120,746

109,020

114,681

167,507

144,962

150,484

176,180

260,895

172,667

191,998

263,776

150,540

162,842

237,509

182,115

197,179

198,899

159,404

195,110

207,680

168,230

154,214

181,599

196,845

125,784

111,913

84,843

64,797

61,165

Cost of revenues:
Manufacturing

42,117

84,207

58,183

78,059

64,235

51,121

54,559

97,366

79,671

81,437

102,281

165,756

91,132

107,714

174,534

81,540

95,609

160,033

118,365

131,372

136,974

97,709

137,123

145,576

116,497

106,449

137,561

159,762

98,069

86,003

66,474

49,366

44,890

Other operating (loss) income

15

-57

13

557

924

-1,033

-31

-4,685

16,973

0

0

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Railcar leasing

12,491

13,387

12,993

11,728

10,856

11,617

12,059

10,624

10,577

10,356

10,175

9,753

9,714

8,993

7,701

7,541

6,319

5,382

4,491

3,665

3,524

3,301

2,904

1,710

1,854

1,601

741

-

142

97

-

-

-

Railcar leasing

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

107

-

-

Railcar services

22,892

18,429

15,576

15,144

16,023

16,146

17,390

16,390

15,131

15,420

15,237

13,641

14,269

14,737

13,845

13,532

14,065

13,424

13,365

12,345

15,614

14,860

12,589

12,534

13,181

12,740

12,928

12,106

12,618

12,557

13,318

13,141

13,705

Total cost of revenues

77,515

115,966

86,765

105,488

92,038

77,851

83,977

119,695

122,352

107,213

127,693

189,150

115,115

131,444

196,080

102,613

115,993

178,839

136,221

147,382

156,112

115,870

152,616

159,820

131,532

120,790

151,230

172,204

110,829

98,657

79,899

62,507

58,595

Gross profit

22,469

30,562

29,473

26,908

28,708

31,169

30,704

47,812

22,610

43,271

48,487

71,745

57,552

60,554

67,696

47,927

46,849

58,670

45,894

49,797

42,787

43,534

42,494

47,860

36,698

33,424

30,369

24,641

14,955

13,256

4,944

2,290

2,570

Selling, general and administrative

10,993

9,743

8,613

9,808

9,263

9,019

8,802

10,506

6,583

7,297

7,957

10,102

7,768

5,315

7,681

5,643

7,570

6,820

9,387

5,614

7,161

3,665

11,265

6,543

6,360

7,464

6,564

10,169

2,934

5,062

6,882

-

-

Net gains on disposition of leased railcars

272

96

181

-

102

0

13

-

58

0

167

-

0

25

0

-

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Asset Impairment Charges

0

3,554

-

-

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Gain (Loss) on Contract Termination

10,146

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Selling, general and administrative (including costs from a related party of $582, $627 and $616 in 2011, 2010 and 2009, respectively)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

6,232

5,606

Earnings from operations

21,894

17,361

21,041

17,100

19,547

22,150

21,915

37,353

16,085

35,974

40,697

61,643

49,784

55,264

60,015

42,422

39,279

51,850

36,507

44,183

35,626

39,869

31,229

41,317

30,338

25,960

23,805

14,472

12,021

8,194

-1,938

-3,942

-3,036

Interest income (including income from related parties of $166 and $578 for the three and nine months ended September 30, 2018, respectively, and $280 and $922 for the same periods in 2017)

470

496

419

-

405

368

373

-

429

453

478

-

542

550

563

-

608

619

641

-

672

679

691

-

750

769

778

789

1,005

944

916

1,058

769

Interest expense

5,250

5,296

5,340

5,394

5,441

5,488

5,531

5,587

5,632

5,678

5,906

5,724

5,645

5,694

4,738

2,258

1,849

1,843

1,672

1,484

1,512

1,341

3,000

3,135

4,414

5,090

5,126

5,148

4,478

5,330

5,335

5,316

5,319

Loss on debt extinguishment

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-2,126

0

0

0

-1,896

0

0

0

-392

-

-2,267

0

-

-

-

-

-

-

-

Other income (loss)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

4

-

-

Other income

0

1

0

-

393

1,867

54

-

57

1

0

-

3

5

6

-

63

27

5

-

16

12

1,996

1,868

18

16

3

-

5

15

-

4

292

Earnings from joint ventures

368

535

1,343

650

232

796

550

366

1,614

1,458

1,486

472

1,402

2,141

1,797

1,833

3

335

-601

-6,313

-505

-804

-973

-482

-849

466

414

-659

-2,170

-2,829

-2,242

-1,946

-2,271

Earnings before income taxes

17,482

13,097

17,463

14,027

15,136

19,693

17,361

32,684

12,553

32,208

36,755

56,875

46,086

52,266

55,517

42,531

38,104

50,988

32,984

37,073

34,297

38,415

29,551

40,274

23,576

22,121

19,874

9,420

6,383

994

-8,595

-10,142

-9,565

Income tax expense

4,409

3,905

4,472

-97,825

6,278

8,794

6,793

10,398

4,864

12,312

13,963

20,724

16,729

19,297

20,541

19,808

14,280

18,772

12,214

12,703

13,327

14,796

11,614

15,826

9,566

8,760

7,870

4,350

2,357

425

-3,266

-3,890

-3,683

Net earnings

13,073

9,192

12,991

111,852

8,858

10,899

10,568

22,286

7,689

19,896

22,792

36,151

29,357

32,969

34,976

22,723

23,824

32,216

20,770

24,370

20,970

23,619

17,937

24,448

14,010

13,361

12,004

5,070

4,026

569

-5,329

-6,252

-5,882

Net earnings per common sharebasic and diluted (in dollars per share)

0.69

0.48

0.68

5.87

0.46

0.57

0.55

1.16

0.40

1.02

1.16

1.82

1.39

1.54

1.64

1.06

1.12

1.51

0.97

1.14

0.98

1.11

0.84

1.14

0.66

0.63

0.56

0.23

0.19

0.03

-0.25

-0.29

-0.28

Weighted average common shares outstandingbasic and diluted (in shares)

19,084

19,084

19,084

19,084

19,084

19,084

19,084

19,183

19,397

19,511

19,665

19,774

21,054

21,352

21,352

21,352

21,352

21,352

21,352

21,352

21,352

21,352

21,352

42,682

21,352

21,352

21

21,355

21,352

21,352

21,349

21,302

21,302

Cash dividends declared per common share (in dollars per share)

0.40

0.40

0.40

0.40

0.40

0.40

0.40

0.40

0.40

0.40

0.40

0.40

0.40

0.40

0.40

0.40

0.40

0.40

0.40

0.25

0.25

0.25

0.25

-

0.00

0.00

-

-

-

-

-

0.00

-