Trinity Industries has reported net income of $56.1m for the fourth quarter ended December 31, 2011.

The Dallas-based company said the results are reflective of higher deliveries of railcars and tank barges and an increased level of railcar sales from the leasing portfolio.

Included in the results for the fourth quarter of 2011 was a pre-tax gain of $17.0m related to the final settlement on a disposition of insured flood-damaged property, plant, and equipment. Net income for the same quarter of 2010 was $17.3m, which included a pre-tax charge of $5.9m related to the redemption of the company's senior notes. Revenues for the fourth quarter of 2011 were $941.5m compared to revenues of $636.0m for the same quarter of 2010.

The company reported an operating profit of $139.0m in the fourth quarter of 2011, a 72% increase compared to an operating profit of $81.0m for the same quarter last year. For the year ended December 31, 2011, the company reported net income of $142.2m, compared to $67.4m in 2010. Revenues for the year ended December 31, 2011 were $3.1bn, a 43% increase compared to revenues of $2.2bn in 2010.

During the fourth quarter of 2011, the Railcar Leasing and Management Services Group reported leasing and management revenues of $127.5m compared to $118.2m in the fourth quarter of 2010 due to continued growth in the lease fleet and higher lease rates.

Operating profit for this group was $75.9m for the fourth quarter of 2011 compared to operating profit of $56.7m during the fourth quarter of 2010.

"Our companies are responding well as economic conditions change," said Timothy R. Wallace, Trinity's chairman, CEO and president. "Our Rail Group achieved operating leverage associated with higher shipment volumes during the fourth quarter, while our Railcar Leasing and Management Services Group was successful in selling railcars from its lease fleet due to strong secondary market demand."

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