FreightCar America Inc. declared a regular cash dividend of $0.06 per share of common stock of the company. The dividend is payable on May 31, 2013, to shareholders of record at the close of business on May 24, 2013.

FreightCar America Inc. announced that its Board of Directors has confirmed a leadership transition with the appointment of current Chief Financial Officer Joseph (Joe) E. McNeely to the position of President and Chief Operating Officer, effective immediately. In this new role, Mr. McNeely will assume responsibility for managing the day-to-day business operations and executing the company's strategic plan. The company's executive leadership team will report directly to Joe in this capacity. Mr. McNeely has extensive railcar industry experience and has held the position of Vice President of Finance, Chief Financial Officer and Treasurer since 2010. Ed Whalen will continue in his role as Chief Executive Officer, overseeing the company's strategic initiatives and supporting Mr. McNeely's transition into his new role. Mr. Whalen will remain a member of the Board of Directors. Prior to joining FreightCar America, Mr. McNeely served in a range of managerial and leadership positions, which included responsibility for sales, marketing, and IT as well as finance. Mr. McNeely joined FreightCar America in 2010 from Mitsui Rail Capital, LLC., where, as Vice President Sales and Marketing, he focused on railcar leasing sales and marketing, business development, and diversification of their railcar product portfolio. Previously, Mr. McNeely held positions at GATX Corporation, including Vice President Finance for GATX Rail. Mr. McNeely will maintain responsibility for the finance function until a successor is appointed, with support from his capable finance team. The company has initiated the search for a new CFO and expects to appoint a successor in the third quarter of 2013. Both external and internal candidates will be considered.

FreightCar America Inc. reported unaudited consolidated earnings results for the first quarter ended March 31, 2013. The company reported results for the first quarter ended March 31, 2013, with revenues of $87.6 million and a net loss of $2.6 million, or $0.22 per diluted share. For the same quarter in 2012, the company reported revenues of $219.1 million and net income of $9.7 million, or $0.81 per diluted share. Operating income was $0.552 million against $15.98 million a year ago. The decrease in operating income versus prior periods was driven by a decrease in deliveries and the negative impact of lower volumes on operating efficiency and also product mix changes. Income before income tax was $0.468 million against $15.89 million a year ago. Net cash flows used in operating activities was $23.03 million against net cash flow generated from operating activities of $32.42 million a year ago. Purchases of property, plant and equipment was $13.35 million against $1.16 million a year ago. To date, the company has spent $12.5 million at Shoals facility The company expects capital spending on a consolidated basis for all of 2013 to be approximately $20 million.