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RAIL EMPLOYMENT & NOTICES



Rail News Home Financials

11/6/2008



Rail News: Financials

Updates from ARI, Greenbrier, Invensys and EnerTeck


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• American Railcar Industries Inc. (ARI) reported third-quarter revenue of $217.2 million and net earnings of $7.4 million vs. $139.9 million and $4.9 million, respectively, in third-quarter 20007. The company attributes the revenue gain to increased car sales and rising tank-car prices resulting from increased steel costs, partially offset by competitive hopper car pricing. During the quarter, ARI delivered 2,116 cars — the second-highest number of car shipments in the company’s history — vs. 1,276 cars in third-quarter 2007.

• For its fiscal fourth quarter, which ended Aug. 31, The Greenbrier Cos. reported revenue of $362 million compared with $351 million in the same period from fiscal year 2007. However, net earnings dropped from $13.2 million in the previous fiscal fourth quarter to $7.4 million. Rail-car deliveries in the quarter totaled 1,800 units vs. 2,400 units in FY2007’s fourth quarter. In addition, deliveries fell from 8,600 units to 7,300 units. On Aug. 31, Greenbrier’s backlog stood at 16,200 units valued at $1.4 billion compared with 17,500 units valued at $1.5 billion on May 31.

• Invensys plc reported that first-half orders rose 16 percent compared with first-half 2007’s total primarily because of strong rail group and process system sales. Operating profit increased 12 percent and basic earnings per share jumped 37 percent. The Invensys Rail Group comprises Safetran Systems Corp., Dimetronic, Westinghouse Rail Systems Ltd., Westinghouse Rail Systems Australia and Westinghouse Rail Systems India.

• EnerTeck Corp. subsidiary EnerTeck Chemical Corp. has obtained European Community Regulating Authority approval to market EnerBurn® in the European Union. A diesel combustion catalyst, EnerBurn is designed to lower carbon's combustion temperature and accelerate oxidation to increase the fuel burn rate in diesel engines. The catalyst can reduce fuel usage between 8 percent and 15 percent, and cut emissions between 10 percent and 20 percent.


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