Key Developments For FreightCar America, Inc.
FreightCar America, Inc. (RAIL.O) (Nasdaq)
FreightCar America, Inc. Declares Regular Dividend
FreightCar America, Inc. announced that they have declared a regular cash dividend of $0.06 per share of common stock of the company. The dividend is payable on November 30, 2009, to shareholders of record at the close of business on November 23, 2009.
FreightCar America, Inc. Completes Restatement Of Prior Period Financial Statements
FreightCar America, Inc. announced that on September 16, 2009, the Company filed an amended annual report on Form 10-K/A with the SEC to restate its financial statements for the years ended December 31, 2008 and 2007, and for the quarterly periods ended March 31, 2008, June 30, 2008 and September 30, 2008. On that date, the Company also filed an amended quarterly report on Form 10-Q/A with the SEC to restate its quarterly financial statements for the period ended March 31, 2009. The Company restated these financial statements due to historical accounting errors relating to accounts payable. The Company determined that accounts payable was overstated by $12.3 million as of June 30, 2009. On July 27, 2009, the audit committee of the board of directors of the Company concluded that the Company's financial statements for the periods noted above should no longer be relied upon because of these errors.
FreightCar America, Inc. Declares Regular Dividend
FreightCar America, Inc. announced that it has declared a regular cash dividend of $0.06 per share of common stock of the Company. The dividend is payable on August 31, 2009, to shareholders of record at the close of business on August 27, 2009.
FreightCar America, Inc. To Restate Financial Statements; Issues Q2 2009 Revenue Guidance Above Analysts' Estimates
FreightCar America, Inc. announced that it has identified historical accounting errors in accounts payable. The Company currently estimates that this account was overstated in a range of $10 million to $14 million as of March 31, 2009. The Company is also reviewing the extent to which the historical accounting errors have resulted in the understatement of net earnings since the fourth quarter of 2007. On July 27, 2009, the audit committee of the board of directors of FreightCar America, Inc. concluded that the Company`s previously issued audited consolidated financial statements as of and for the fiscal years ended December 31, 2008 and December 31, 2007, and related auditors` report, and unaudited interim consolidated financial statements as of and for the quarterly periods ended March 31, 2009, December 31, 2008, September 30, 2008, June 30, 2008, March 31, 2008, and December 31, 2007 should no longer be relied upon because of these errors in the financial statements. The Company intends to restate these financial statements. The Company`s board of directors agreed with the audit committee`s conclusions. FreightCar America, Inc. also announced that for second quarter of 2009, it expects revenue to be $104 million. According to Reuters Estimates, analysts were expecting the Company to report revenue of $60 million for second quarter of 2009.
FreightCar America, Inc. Declares Regular Dividend
FreightCar America, Inc. announced that it have declared a regular cash dividend of $0.06 per share of common stock of the Company. The dividend is payable on May 29, 2009, to shareholders of record at the close of business on May 22, 2009.
