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Rail News: Financials

Updates from Wi-Tronix, BNSF Logistics, Bombardier, L.B. Foster, Railpower, AirBoss and Tideworks

Here are the latest developments from seven rail industry suppliers and service providers:

• New Mexico's Rail Runner Express will deploy a combined locomotive video and event recorder monitoring system jointly developed by Railhead Vision Systems® and Wi-Tronix® L.L.C. Comprising Wi-Tronix's Wireless Processing Units (Wi-PU) and Railhead's digital video recorders, the system can generate a single downloadable file containing both video and data extracted from an applied event recorder, and provide real-time, wireless access to download video and event recorder information.

• MachineryLink contracted BNSF Logistics L.L.C. to provide equipment utilization services for agricultural-related fleet operations and manage surge capacity for seasonal demand. BNSF Logistics will help MachineryLink identify and facilitate optimal backhaul moves for its fleet and minimize deadhead miles. BNSF Logistics also will provide additional specialized capacity when agricultural demand peaks.

• The number of Bombardier Transportation Advanced Rapid Transit (ART) rail vehicles in operation or on order now exceeds 600 units. The company eclipsed the mark after Vancouver's SkyTrain exercised an option from a November 2006 contract for 14 new ART MK II vehicles. The latest order brings the total number of ART vehicles in service or on order to 610.

• L.B. Foster Co.'s board has authorized the repurchase of up to $25 million of common shares until June 30, 2010. The timing and volume of the repurchases will be made at management's discretion.

• Railpower Technologies Corp. reported first-quarter revenue of $3.3 million vs. $25.1 million in first-quarter 2007. The company delivered three locomotives and kits (one six-axle road switcher locomotive to Union Pacific Railroad and two locomotive kits to Norfolk Southern Railway) compared with 24 locomotives and kits last year. Railpower also reported a net loss of $7.6 million vs. first-quarter 2007's $8.4 million.

• AirBoss of America Corp. reported first-quarter net sales of $59 million, down 1.1 percent compared with first-quarter 2007 sales. Net income dropped from $1.1 million to $972,000. AirBoss supplies fastening and other products to the transportation, military and industrial sectors.

• Terminal management and planning software provider Tideworks Technology® Inc. has unveiled the latest version of Terminal View, a three-dimensional tool designed to enable port and intermodal operators to zoom into any area of their terminal and monitor operations in real time. Terminal View is a part of the company's Traffic Control™ system, which provides tools to control container-handling equipment and electronically dispatch work instructions.

Contact Progressive Railroading editorial staff.

More News from 5/13/2008