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Wabash National Announces Strategic Realignment of Reporting Segments

LAFAYETTE, Ind., Feb. 27, 2015 (GLOBE NEWSWIRE) -- Wabash National Corporation (NYSE:WNC), a diversified industrial manufacturer and North America's leading producer of semi-trailers and liquid transportation systems, today announced a realignment of the Company's reporting segments to better leverage operational synergies across our businesses. The realignment includes transitioning Wabash Wood Products, our wood flooring operations, from its current positioning within the Diversified Products Group to inclusion within the Commercial Trailer Products segment. Wabash National will begin reporting this realignment effective with the 2014 Form 10-K filed with the Securities Exchange.

Dick Giromini, president and chief executive officer, stated, "This strategic realignment is being implemented to leverage the critical relationship between our wood flooring operations and our van trailer business, its primary customer, within Commercial Trailer Products. This revised organizational structure will help facilitate optimal decision making and ensure exceptional service for all of our customers."

For additional information on Wabash National's reporting segments see table following this release for unaudited quarterly operating performances as well as the Company's 2014 Form 10-K filed February 27, 2015.

About Wabash National Corporation

Headquartered in Lafayette, Indiana, Wabash National Corporation (NYSE:WNC) is a diversified industrial manufacturer and North America's leading producer of semi trailers and liquid transportation systems. Established in 1985, the Company specializes in the design and production of dry freight vans, refrigerated vans, platform trailers, liquid tank trailers, intermodal equipment, engineered products, and composite products. Its innovative products are sold under the following brand names: Wabash National®, Transcraft®, Benson®, DuraPlate®, ArcticLite®, Walker Transport, Walker Defense Group, Walker Barrier Systems, Walker Engineered Products, Brenner® Tank, Beall®, Garsite, Progress Tank, TST®, Bulk Tank International and Extract Technology®. To learn more, visit www.wabashnational.com.

Safe Harbor Statement

This press release contains certain forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements convey the Company's current expectations or forecasts of future events. All statements contained in this press release other than statements of historical fact are forward-looking statements. Any forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those implied by the forward-looking statements. Readers should review and consider the various disclosures made by the Company in this press release and in the Company's reports to its stockholders and periodic reports on Forms 10-K and 10-Q.

WABASH NATIONAL CORPORATION
SUPPLEMENTAL SEGMENT DISCLOSURES
(Dollars in thousands)
(Unaudited)
2014 2013 2012
Twelve Months Ended December 31, 2014 Twelve Months Ended December 31, 2013 Twelve Months Ended December 31, 2012
Commercial Trailer Products Diversified Products Retail Corporate & Eliminations Consolidated Commercial Trailer Products Diversified Products Retail Corporate & Eliminations Consolidated Commercial Trailer Products Diversified Products Retail Corporate & Eliminations Consolidated
New Trailer Shipments 53,550 3,550 3,450 (3,200) 57,350 43,800 3,050 3,000 (3,050) 46,800 43,700 2,000 2,800 (2,900) 45,600
Used Trailer Shipments 3,150 150 1,550 -- 4,850 4,300 100 1,300 -- 5,700 3,150 100 1,550 -- 4,800
Net Sales $ 1,294,164 $ 466,238 $ 190,080 $ (87,167) $ 1,863,315 $ 1,082,456 $ 458,653 $ 181,486 $ (86,909) $ 1,635,686 $ 1,064,591 $ 321,256 $ 157,646 $ (81,639) $ 1,461,854
Gross Profit 104,800 103,379 20,728 3,727 232,634 84,182 108,627 20,122 2,192 215,123 75,252 72,093 16,757 (279) 163,823
Gross Profit % 8.1% 22.2% 10.9% 12.5% 7.8% 23.7% 11.1% 13.2% 7.1% 22.4% 10.6% 11.2%
Income (Loss) from Operations 81,141 54,879 3,785 (17,419) 122,386 57,543 59,126 2,885 (16,363) 103,191 52,242 44,573 2,922 (29,253) 70,484
Operating Margin 6.3% 11.8% 2.0% 6.6% 5.3% 12.9% 1.6% 6.3% 4.9% 13.9% 1.9% 4.8%
Three Months Ended March 31, 2014 Three Months Ended March 31, 2013 Three Months Ended March 31, 2012
Commercial Trailer Products Diversified Products Retail Corporate & Eliminations Consolidated Commercial Trailer Products Diversified Products Retail Corporate & Eliminations Consolidated Commercial Trailer Products Diversified Products Retail Corporate & Eliminations Consolidated
New Trailer Shipments 9,250 800 800 (900) 9,950 7,950 650 600 (600) 8,600 10,350 -- 350 (450) 10,250
Used Trailer Shipments 1,700 50 400 -- 2,150 650 50 300 -- 1,000 600 -- 400 -- 1,000
Net Sales $ 227,951 $ 108,053 $ 45,636 $ (23,520) $ 358,120 $ 198,344 $ 101,582 $ 40,843 $ (16,540) $ 324,229 $ 243,847 $ 20,914 $ 25,120 $ (12,199) $ 277,682
Gross Profit 14,995 25,754 5,381 542 46,672 12,996 23,949 4,880 361 42,186 12,771 4,632 2,479 (153) 19,729
Gross Profit % 6.6% 23.8% 11.8% 13.0% 6.6% 23.6% 11.9% 13.0% 5.2% 22.1% 9.9% 7.1%
Income (Loss) from Operations 8,760 13,397 1,050 (3,742) 19,465 6,461 11,761 873 (4,239) 14,856 7,146 3,732 (75) (5,354) 5,449
Operating Margin 3.8% 12.4% 2.3% 5.4% 3.3% 11.6% 2.1% 4.6% 2.9% 17.8% -0.3% 2.0%
Three Months Ended June 30, 2014 Three Months Ended June 30, 2013 Three Months Ended June 30, 2012
Commercial Trailer Products Diversified Products Retail Corporate & Eliminations Consolidated Commercial Trailer Products Diversified Products Retail Corporate & Eliminations Consolidated Commercial Trailer Products Diversified Products Retail Corporate & Eliminations Consolidated
New Trailer Shipments 13,900 850 950 (750) 14,950 10,700 750 850 (900) 11,400 11,750 450 650 (750) 12,100
Used Trailer Shipments 1,150 50 550 -- 1,750 750 50 300 -- 1,100 650 50 450 -- 1,150
Net Sales $ 335,943 $ 119,344 $ 51,584 $ (20,850) $ 486,021 $ 266,214 $ 124,416 $ 48,136 $ (25,640) $ 413,126 $ 281,077 $ 63,470 $ 38,171 $ (20,310) $ 362,408
Gross Profit 27,963 26,377 5,748 1,525 61,613 23,531 29,434 5,519 369 58,853 20,863 14,852 4,131 (165) 39,681
Gross Profit % 8.3% 22.1% 11.1% 12.7% 8.8% 23.7% 11.5% 14.2% 7.4% 23.4% 10.8% 10.9%
Income (Loss) from Operations 22,022 14,175 1,281 (3,623) 33,855 16,795 17,120 1,261 (4,724) 30,452 15,512 7,737 1,027 (15,708) 8,568
Operating Margin 6.6% 11.9% 2.5% 7.0% 6.3% 13.8% 2.6% 7.4% 5.5% 12.2% 2.7% 2.4%
Three Months Ended September 30, 2014 Three Months Ended September 30, 2013 Three Months Ended September 30, 2012
Commercial Trailer Products Diversified Products Retail Corporate & Eliminations Consolidated Commercial Trailer Products Diversified Products Retail Corporate & Eliminations Consolidated Commercial Trailer Products Diversified Products Retail Corporate & Eliminations Consolidated
New Trailer Shipments 14,700 850 800 (750) 15,600 11,700 850 800 (750) 12,600 11,400 700 950 (950) 12,100
Used Trailer Shipments 200 50 350 -- 600 1,000 50 350 -- 1,400 950 50 400 -- 1,400
Net Sales $ 351,951 $ 115,838 $ 45,166 $ (21,258) $ 491,697 $ 293,679 $ 121,436 $ 45,996 $ (21,134) $ 439,977 $ 281,431 $ 101,899 $ 47,633 $ (25,046) $ 405,917
Gross Profit 30,994 24,691 4,896 1,047 61,628 25,428 29,945 5,225 899 61,497 21,777 22,995 5,256 46 50,074
Gross Profit % 8.8% 21.3% 10.8% 12.5% 8.7% 24.7% 11.4% 14.0% 7.7% 22.6% 11.0% 12.3%
Income (Loss) from Operations 25,166 13,071 859 (4,167) 34,929 18,934 17,367 743 (3,214) 33,830 15,906 13,837 1,400 (3,907) 27,236
Operating Margin 7.2% 11.3% 1.9% 7.1% 6.4% 14.3% 1.6% 7.7% 5.7% 13.6% 2.9% 6.7%
Three Months Ended December 31, 2014 Three Months Ended December 31, 2013 Three Months Ended December 31, 2012
Commercial Trailer Products Diversified Products Retail Corporate & Eliminations Consolidated Commercial Trailer Products Diversified Products Retail Corporate & Eliminations Consolidated Commercial Trailer Products Diversified Products Retail Corporate & Eliminations Consolidated
New Trailer Shipments 15,750 1,050 900 (850) 16,850 13,450 800 750 (800) 14,200 10,200 850 850 (800) 11,100
Used Trailer Shipments 100 50 250 -- 400 1,900 50 300 -- 2,250 900 -- 350 -- 1,250
Net Sales $ 378,319 $ 123,003 $ 47,694 $ (21,539) $ 527,477 $ 324,219 $ 111,219 $ 46,511 $ (23,595) $ 458,354 $ 258,236 $ 134,973 $ 46,722 $ (24,084) $ 415,847
Gross Profit 30,848 26,557 4,703 613 62,721 22,227 25,299 4,498 563 52,587 19,841 29,614 4,891 (7) 54,339
Gross Profit % 8.2% 21.6% 9.9% 11.9% 6.9% 22.7% 9.7% 11.5% 7.7% 21.9% 10.5% 13.1%
Income (Loss) from Operations 25,193 14,236 595 (5,887) 34,137 15,353 12,878 8 (4,186) 24,053 13,678 19,267 570 (4,284) 29,231
Operating Margin 6.7% 11.6% 1.2% 6.5% 4.7% 11.6% 0.0% 5.2% 5.3% 14.3% 1.2% 7.0%
Note: The sum of shipments by quarter may not equal full year shipments due to rounding.

CONTACT: Media Contact: Tom Rodak Vice President, Corporate Marketing (765) 771-5555 tom.rodak@wabashnational.com Investor Relations: Mike Pettit Vice President, Finance & Investor Relations (765) 771-5581 michael.pettit@wabashnational.com

Source:Wabash National Corporation