FreightCar America, Inc. Reports First Quarter 2017 Results

Highlights
First quarter revenue of $139.5 million on deliveries of 1,525 units
First quarter net income of $0.6 million, or $0.05 per diluted share
Diversified backlog totaling 2,802 railcars valued at $285 million
Total cash, cash equivalents, marketable securities and restricted cash of $114.8 million at March 31, 2017
Full year 2017 delivery range increased to be between 4,200 and 4,400 railcars
 
CHICAGO, May 03, 2017 - FreightCar America, Inc. (NASDAQ:RAIL) today reported results for the first quarter ended March 31, 2017, with net income of $0.6 million, or $0.05 per diluted share, compared to net income of $12.7 million, or $1.03 per diluted share, in the same period last year. First quarter 2017 results included pre-tax restructuring charges of $1.8 million, of which $0.4 million were non-cash expenses, while first quarter 2016 results included a gain on a settlement of retiree benefit plan obligations of $14.3 million.
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Kelso Technologies Inc.: Distribution Agreement With MGM

VANCOUVER, BRITISH COLUMBIA and DOWNERS GROVE, ILLINOIS--(Apr 4, 2016) - Kelso Technologies Inc. (KLS.TO)(NYSE MKT:KIQ) ("Kelso" or the "Company") is pleased to announce that it has entered into a products distribution agreement with Metal Goods Manufacturing Company, Inc. ("MGM"), headquartered in Bartlesville, Oklahoma. MGM, established in 1938, designs and manufactures check valves, fittings, magnetic gauging devices and control valves used in the rail, pipeline and natural gas industries.

Buz McAbery, President of MGM, comments that, "MGM is very pleased to establish this close relationship with Kelso because Kelso is an experienced designer, manufacturer and marketer of AAR approved products with an established high quality brand in railroad. They understand the regulatory complexities associated with being a rail supplier. We look forward to growing with Kelso and working with them to identify additional innovative product development opportunities."

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Kelso Technologies Inc.: AAR Approves Field Trials For New Bottom Outlet Valve

VANCOUVER, BRITISH COLUMBIA and DOWNERS GROVE, ILLINOIS--(Aug 18, 2015) - Kelso Technologies Inc. (the "Company" or "Kelso") (KLS.TO)(NYSE MKT:KIQ) -The Company is pleased to report that the Association of American Railroads (AAR) has approved Kelso's new bottom outlet valve (BOV) design for commercial field trial testing.

Bottom outlet valves are utilized on rail tank cars for the primary purpose of unloading the contents of the tank. The BOV must be a low-profile design as it is positioned at the lowest point of the tank so that a full discharge of the tank can be achieved. They are widely used in the transport of hazardous commodities such as crude oil, ethanol, chemicals, petrochemicals and minerals such as molten sulfur as well as many non-hazardous commodity applications.

The development of our patent pending BOV has been driven by customers' demand for a better performing BOV due to chronic performance problems with current products in use in the market today.

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Kelso Technologies Inc.: AAR Approves Field Trials for New Vacuum Relief Valve

VANCOUVER, BRITISH COLUMBIA and DOWNERS GROVE, ILLINOIS--(Marketwired - Jun 23, 2015) - Kelso Technologies Inc. (The "Company" or "Kelso") (KLS.TO)(NYSE MKT:KIQ) - The Company is pleased to report that the Association of American Railroads (AAR) has approved Kelso's new vacuum relief valve (VRV) design for commercial field trial testing. The VRV is a low pressure device specifically designed to protect rail tank cars from the effect of an excessive vacuum preventing the implosion of the tank car.

The development of our patent pending VRV has been driven by customers' demand for a better performing VRV due to high failure rates of current products in use in the market today. Kelso is dedicated to the development of best available safety technologies that deliver long term reliable high performance. Our new innovative VRV design features our patented constant force pressure springs and meets the new DOT-117 tank car specifications to be implemented on October 1, 2015.

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Kelso Technologies Inc.: AAR Approves New JS165H High-Flow Pressure Relief Valve

VANCOUVER, BRITISH COLUMBIA and DOWNERS GROVE, ILLINOIS--(Dec 4, 2014) - Kelso Technologies Inc. ("the Company" or "Kelso") (KLS.TO)(NYSE MKT:KIQ) reports that the Association of American Railroads (AAR) has approved our new JS165H high-flow pressure relief valve (PRV) for commercial applications after completing its required two year field trial.

The JS165H has been designed for use on general service rail tank cars carrying hazardous and non-hazardous non-flammable chemicals that require a pressure specification of 165PSI. Rail tank cars requiring this technology are primarily DOT-111 tank cars that represent approximately two-thirds of the total DOT-111 fleet in North America.

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