Wabtec Q4 Profit Increases - Quick Facts

(RTTNews) - Wabtec Corp. (WAB) said that its fourth-quarter of 2013 net income attributable to shareholders rose to $74.04 million or $0.76 per share from $64.77 million or $0.67 per share last year. The 2013 fourth quarter was impacted by after-tax expenses of 3 cents per share, or $3.8 million pre-tax, primarily for restructuring actions.

Income from operations in the fourth quarter was $111 million, compared to $100 million in the year-ago fourth quarter.

Sales for the fourth quarter increased 12 percent to $681.48 million from last year's $610.40 million, driven by higher sales in both the Freight and Transit groups.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.79 per share and revenues of $693.63 million for the quarter. Analysts' estimates typically exclude special items.

Wabtec issued 2014 guidance for earnings per share of about $3.45, with revenues expected to increase about 15 percent. This guidance includes the company's previously announced agreement to acquire Fandstan Electric Group, which is expected to close in the first quarter. Street currently is looking for fiscal year 2014 earnings of $3.45 per share on annual revenues of $2.83 billion.