<SEC-DOCUMENT>0001171843-18-007429.txt : 20181031
<SEC-HEADER>0001171843-18-007429.hdr.sgml : 20181031
<ACCEPTANCE-DATETIME>20181031171018
ACCESSION NUMBER:		0001171843-18-007429
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20181031
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20181031
DATE AS OF CHANGE:		20181031

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			FreightCar America, Inc.
		CENTRAL INDEX KEY:			0001320854
		STANDARD INDUSTRIAL CLASSIFICATION:	RAILROAD EQUIPMENT [3743]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-51237
		FILM NUMBER:		181151089

	BUSINESS ADDRESS:	
		STREET 1:		TWO NORTH RIVERSIDE PLAZA
		STREET 2:		SUITE 1300
		CITY:			CHICAGO
		STATE:			IL
		ZIP:			60606
		BUSINESS PHONE:		(800) 458-2235

	MAIL ADDRESS:	
		STREET 1:		TWO NORTH RIVERSIDE PLAZA
		STREET 2:		SUITE 1300
		CITY:			CHICAGO
		STATE:			IL
		ZIP:			60606

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	FCA Acquisition Corp.
		DATE OF NAME CHANGE:	20050316
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>f8k_103118.htm
<DESCRIPTION>FORM 8-K
<TEXT>
<html><head><title></title></head><body><div style="margin-top: 3pt; margin-bottom: 12pt;"><div style="font-size: 1pt; border-top: Black 2.5pt solid; border-bottom: Black 1.1pt solid; width: 100%;"><font style="font-size: 10pt;">&#160;</font></div></div><p style="text-align: center;"><font style="font-size: 14pt;"><strong>UNITED STATES</strong><br /><strong>SECURITIES AND EXCHANGE COMMISSION</strong><br /><strong>Washington, D.C. 20549</strong><br />_____________________</font></p><p style="text-transform: uppercase; text-align: center;"><font style="font-size: 14pt;"><strong>Form 8-K</strong><br />_____________________</font></p><p style="text-align: center;"><font style="font-size: 12pt;"><strong>CURRENT REPORT</strong></font></p><p style="text-align: center;"><font style="font-size: 12pt;"><strong>Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934</strong></font></p><p align="center"><font style="font-size: 10pt;">Date of Report (Date of earliest event Reported): <!--October 31, 2018-->October 31, 2018 &#160;</font></p><p align="center"><font style="font-size: 12pt;"><strong>FREIGHTCAR AMERICA, INC.</strong></font><br /><font style="font-size: 10pt;">(Exact Name of Registrant as Specified in Charter)</font></p><table style="width: 100%;" border="0" cellspacing="0" cellpadding="0"><tr valign="top"><td align="center" width="33%"><font style="font-size: 10pt;"><strong>Delaware</strong></font></td><td align="center" width="34%"><font style="font-size: 10pt;"><strong>000-51237</strong></font></td><td align="center" width="33%"><font style="font-size: 10pt;"><strong>25-1837219</strong></font></td></tr><tr valign="top"><td align="center" width="33%"><font style="font-size: 10pt;">(State or Other Jurisdiction of Incorporation)</font></td><td align="center" width="34%"><font style="font-size: 10pt;">(Commission File Number)</font></td><td align="center" width="33%"><font style="font-size: 10pt;">(I.R.S. 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</TEXT>
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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>exh_991.htm
<DESCRIPTION>PRESS RELEASE
<TEXT>
<!DOCTYPE HTML PUBLIC "-//W3C//DTD HTML 4.0 Transitional//EN"><html lang="en-US"><head><title>EdgarFiling</title><meta content="text/html; charset=windows-1252" ><meta name="GENERATOR" content="MSHTML 8.00.7601.18094" ></head><body bgcolor="#ffffff"><p style="text-align: right;"><strong>EXHIBIT 99.1</strong></p><p style="text-align: center;"><strong>FreightCar America, Inc. Reports Third Quarter 2018 Results</strong></p><p style="text-align: center;" ></p><p>
             <p align="left"><em>Pricing, product mix and steel costs impact results for the quarter; Company reaffirms full year delivery estimates and targeted savings guidance from &#8216;Back to Basics&#8217; program</em><br ></p>              <p>CHICAGO, Oct.  31, 2018  (GLOBE NEWSWIRE) -- FreightCar America, Inc. (NASDAQ: RAIL) today reported results for the third quarter ended September 30, 2018.</p>              <p><strong>Highlights for the Quarter</strong></p>              <ul type="disc"><li>Third quarter revenue of $79.0 million on deliveries of 888 units</li><li>Third quarter net loss of $6.2 million, or $0.50 per diluted share</li><li>Total cash, cash equivalents, restricted cash equivalents, marketable securities and restricted certificates of deposit of $65.6 million at September 30, 2018</li><li>Backlog now totals 1,911 railcars with an aggregate value of approximately $167 million</li><li>Announced Dan Wallace as Vice President and General Manager, Leasing</li><li>Company reaffirms guidance to reduce cost of goods sold per railcar by $4,000 to $5,000 by year end and deliver 4,250 to 4,500 railcars for fiscal 2018</li></ul>              <p align="justify">"While we continue to be very encouraged by the progress we are making in our &#8216;Back to Basics&#8217; business transformation, we experienced several challenges this quarter,&#8221; said Jim Meyer, President and Chief Executive Officer of FreightCar America. "More specifically, the quarter was impacted by industry pricing that remains extremely challenging, combined with material supply constraints and higher costs. In addition, our productivity levels were temporarily impacted by major line changeovers and planned upgrades at our Shoals facility.&#8221; <br ></p>    <p align="justify">Meyer concluded, &#8220;As we continue to accelerate the operational and cost reduction components of &#8216;Back to Basics&#8217;, we are also placing significant effort on refining and enhancing our product portfolio to more fully participate in the market. This kind of holistic transformation may generate uneven performance in the near term, but we strongly believe in the steps we are taking to position ourselves for long term success."</p>              <p><strong>Third Quarter Results</strong></p>              <ul type="disc"><li>Consolidated revenues were $79.0 million in the third quarter of 2018 compared to $72.0 million in the same quarter of 2017. The Company delivered 888 railcars in the third quarter of 2018, which included 498 new railcars and 390 rebuilt railcars. This compares to 829 railcars delivered in the third quarter of 2017, all of which were new railcars.<br ><br ></li><li>The Company had a diversified backlog totaling 1,911 railcars at September 30, 2018, valued at approximately $167 million.<br ><br ></li><li>Consolidated operating loss for the third quarter of 2018 was $8.7 million compared to an operating loss of $18.7 million for the third quarter of 2017.<br ><br ></li><li>Net loss in the third quarter of 2018 was $6.2 million, or $0.50 per diluted share, compared to a net loss of $11.6 million, or $0.94 per diluted share, in the third quarter of 2017.<br ><br ></li><li>Cash, cash equivalents, restricted cash equivalents, marketable securities and restricted certificates of deposit were $65.6 million as of September 30, 2018, compared to $136.4 million as of December 31, 2017. The decrease in cash was primarily driven by Company-funded deliveries of leased railcars into its short-term lease fleet and higher accounts receivable due to deliveries near the end of the third quarter. &#160;</li></ul>              <p><strong>Third Quarter 2018 Conference Call &amp; Webcast Information</strong></p>              <p>The Company will host a conference call and live webcast on Thursday, November 1, 2018 at 11:00 a.m. (Eastern Daylight Time) to discuss the Company&#8217;s third quarter 2018 financial results. To participate in the conference call, please dial (800) 288-8976, Confirmation Number 455937.&#160; Interested parties are asked to dial in approximately 10 to 15 minutes prior to the start time of the call. The live audio-only webcast can be accessed at:</p>              <p>Event URL: https://im.csgsystems.com/cgi-bin/confCast<br >Conference ID#: 455937</p>              <p>If you need technical assistance, call the toll-free AT&amp;T Conference Casting Support Help Line at (888) 793-6118. Please note that the webcast is listen-only and webcast participants will not be able to participate in the question and answer portion of the conference call.&#160; An audio replay of the conference call will be available beginning at 1:00 p.m. (Eastern Daylight Time) on November 1, 2018 until 11:59 p.m. (Eastern Standard Time) on December 1, 2018.&#160; To access the replay, please dial (800) 475-6701.&#160; The replay pass code is 455937.&#160; An audio replay of the call will be available on the Company&#8217;s website within two days following the earnings call.</p>              <p><strong>About FreightCar America, Inc.</strong></p>              <p>FreightCar America, Inc. manufactures a wide range of railroad freight cars, supplies railcar parts and leases freight cars through its JAIX Leasing Company subsidiary. FreightCar America designs and builds high-quality railcars, including coal cars, bulk commodity cars, covered hopper cars, intermodal and non-intermodal flat cars, mill gondola cars, coil steel cars and boxcars. It is headquartered in Chicago, Illinois and has facilities in the following locations: Cherokee, Alabama; Grand Island, Nebraska; Johnstown, Pennsylvania; Roanoke, Virginia; and Shanghai, People&#8217;s Republic of China. More information about FreightCar America is available on its website at www.freightcaramerica.com.</p>              <p><strong>Forward Looking Statements</strong></p>              <p>This press release may contain statements relating to our expected financial performance and/or future business prospects, events and plans that are &#8220;forward-looking statements&#8221; as defined under the Private Securities Litigation Reform Act of 1995. Forward-looking statements represent our estimates and assumptions only as of the date of this press release. Our actual results may differ materially from the results described in or anticipated by our forward-looking statements due to certain risks and uncertainties. These potential risks and uncertainties include, among other things: risks relating to the Shoals facility, including the facility not meeting internal assumptions or expectations and unforeseen liabilities from Navistar; the cyclical nature of our business; adverse economic and market conditions; fluctuating costs of raw materials, including steel and aluminum, and delays in the delivery of raw materials; our ability to maintain relationships with our suppliers of railcar components; our reliance upon a small number of customers that represent a large percentage of our sales; the variable purchase patterns of our customers and the timing of completion, delivery and customer acceptance of orders; the highly competitive nature of our industry; the risk of lack of acceptance of our new railcar offerings by our customers; and the additional risk factors described in our filings with the Securities and Exchange Commission. 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text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">)</td><td style="vertical-align: bottom;   text-align: right;   white-space: nowrap;   border-bottom: double black 2.5pt; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&#160;</td><td style="vertical-align: bottom;   text-align: right;   white-space: nowrap;   border-bottom: double black 2.5pt; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">$</td><td style="vertical-align: bottom;   text-align: right;   white-space: nowrap;   border-bottom: double black 2.5pt; vertical-align: bottom ; ">(1.20</td><td style="vertical-align: bottom;   text-align: right;   white-space: nowrap;   border-bottom: double black 2.5pt; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">)</td><td style="vertical-align: bottom;   text-align: right;   white-space: nowrap;   border-bottom: double black 2.5pt; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">$</td><td style="vertical-align: bottom; 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vertical-align: bottom ; ">&#160;</td><td style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">&#160;</td><td style="text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&#160;</td><td style="text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&#160;</td><td style="text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&#160;</td><td style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">&#160;</td><td style="text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&#160;</td><td style="text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&#160;</td><td style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">&#160;</td><td style="vertical-align: bottom ; ">&#160;</td></tr><tr><td style="vertical-align: bottom;   text-align: left;   padding-left: 10.0px; vertical-align: bottom ; ">basic</td><td style="vertical-align: bottom;   text-align: right; 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vertical-align: bottom ; ">&#160;</td><td style="vertical-align: bottom;   text-align: right;   white-space: nowrap;   border-bottom: double black 2.5pt; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&#160;</td><td style="vertical-align: bottom;   text-align: right;   white-space: nowrap;   border-bottom: double black 2.5pt; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&#160;</td><td style="vertical-align: bottom;   text-align: right;   white-space: nowrap;   border-bottom: double black 2.5pt; vertical-align: bottom ; ">12,316,497</td><td style="vertical-align: bottom;   text-align: right;   white-space: nowrap;   border-bottom: double black 2.5pt; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&#160;</td><td style="vertical-align: bottom;   text-align: right;   white-space: nowrap;   border-bottom: double black 2.5pt; text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&#160;</td><td style="vertical-align: bottom; 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vertical-align: bottom ; ">&#160;</td><td style="text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&#160;</td><td style="text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&#160;</td><td style="text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&#160;</td><td style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">&#160;</td><td style="text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&#160;</td><td style="text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&#160;</td><td style="text-align: right ;  vertical-align: bottom; vertical-align: bottom ; ">&#160;</td><td style="vertical-align: bottom ; ">&#160;</td></tr><tr><td style="vertical-align: bottom;   text-align: left;   padding-left: 10.0px; vertical-align: bottom ; ">diluted</td><td style="vertical-align: bottom;   text-align: right;   white-space: nowrap;   border-bottom: double black 2.5pt; text-align: left ; 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text-align: left ;  vertical-align: bottom; vertical-align: bottom ; ">&#160;</td></tr><tr><td style="vertical-align: bottom ; ">&#160;</td><td colspan="3" style="vertical-align: bottom ; ">&#160;</td><td colspan="3" style="vertical-align: bottom ; ">&#160;</td></tr></table>       <p><br ></p>       <table style="width:425.85pt; border-collapse:collapse !important;;border-collapse: collapse; "><tr><td style="width:189pt;;vertical-align: bottom ; ">INVESTOR &amp; MEDIA CONTACT</td><td style="width:232.35pt;;vertical-align: bottom ; ">Matthew S. Kohnke</td></tr><tr><td style="width:189pt;;vertical-align: bottom ; ">TELEPHONE</td><td style="width:232.35pt;;vertical-align: bottom ; ">(800) 458-2235</td></tr></table></p><p ></p></body></html>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
