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Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
Revenues:        
Manufacturing (including revenues from affiliates of zero for both the three and six months ended June 30, 2018 and $137 for both of the same periods in 2017) $ 89,440 $ 55,087 $ 153,581 $ 115,813
Railcar leasing (including revenues from affiliates of $404 and $816 for the three and six months ended June 30, 2018, respectively, and $223 and $447 for the same periods in 2017) 34,804 33,717 68,925 67,552
Railcar services (including revenues from affiliates of $15 and $17 for the three and six months ended June 30, 2018, respectively, and $4,425 and $10,572 for the same periods in 2017) 22,284 20,216 40,260 40,336
Total revenues 146,528 109,020 262,766 223,701
Cost of revenues:        
Manufacturing (84,207) (51,121) (142,390) (105,680)
Other operating (loss) income 57 1,033 44 1,064
Railcar leasing (13,387) (11,617) (26,380) (23,676)
Railcar services (18,429) (16,146) (34,005) (33,536)
Total cost of revenues (115,966) (77,851) (202,731) (161,828)
Gross profit 30,562 31,169 60,035 61,873
Selling, general and administrative (9,743) (9,019) (18,356) (17,821)
Net gains on disposition of leased railcars 96 0 277 13
Asset Impairment Charges (3,554) 0 (3,554) 0
Earnings from operations 17,361 22,150 38,402 44,065
Interest income (including income from related parties of $192 and $412 for the three and six months ended June 30, 2018, respectively, and $306 and $642 for the same periods in 2017) 496 368 915 741
Interest expense (5,296) (5,488) (10,636) (11,019)
Other income 1 1,867 1 1,921
Earnings from joint ventures 535 796 1,878 1,346
Earnings before income taxes 13,097 19,693 30,560 37,054
Income tax expense (3,905) (8,794) (8,377) (15,587)
Net earnings $ 9,192 $ 10,899 $ 22,183 $ 21,467
Net earnings per common share—basic and diluted (in dollars per share) $ 0.48 $ 0.57 $ 1.16 $ 1.12
Weighted average common shares outstanding—basic and diluted (in shares) 19,084 19,084 19,084 19,084
Cash dividends declared per common share (in dollars per share) $ 0.40 $ 0.40 $ 0.80 $ 0.80