Wabtec Corporation had a strong first quarter, with the company reporting record sales and income from operations. Based on these results, the company increased its guidance for the year, saying it expected earnings per diluted share to be between $3.20 and $3.30, and revenues to be up about 15%, according to RailResource.com.

Wabtec’s first quarter sales were $455 million, 25% higher than the first quarter of 2010; the company attributed the rise chiefly to strong growth in its Freight Group. Income from operations was $66 million, or 14.6% of sales, compared to 14.1% in the equivalent quarter last year. Earnings per diluted share also set a record, at 85 cents, 35% higher than earnings for the first quarter of 2010.

The company’s backlog at the end of the first quarter was $1.5 billion, another record the company said, and 39% higher than the backlog at the end of 2010.

“The company’s performance in the quarter was strong, and we’re optimistic about the rest of the year. Freight rail traffic volumes continue to increase, which is driving growth in all segments of that market,” said Albert J. Neupaver, Wabtec’s president and CEO in the company’s release. “Our transit business has remained stable, as we expected.”