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Rail News: Rail Industry Trends

Updates from FreightCar America and RailComm


• FreightCar America Inc. reported third-quarter revenue of $41.3 million, a 25 percent decline compared with revenue recorded during the same 2009 period. The freight-car builder also posted a net loss of $4.7 million compared with net income of $1.1 million in 3Q 2009. FreightCar America delivered 600 new rail cars during the quarter, compared with 614 during the second quarter and 695 during third-quarter 2009. The builder received 17 orders during the third quarter compared with 14 during the second quarter and 0 during 3Q 2009. As of Sept. 30, FreightCar America's backlog was 2,417 units compared with 3,000 as of June 30 and 777 as of Sept. 30, 2009. "Our sales and order volume for the third quarter of 2010 reflects the continuation of challenging market conditions and resultant low level of demand for coal-carrying rail cars," said President and Chief Executive Officer Ed Whalen in a prepared statement. "The results for the third quarter, as compared to last quarter, reflect the impact of ongoing competitive price pressures, the influence of sales mix, and additional administrative expenses incurred to support our strategic growth efforts.”

• RailComm was listed on the "Rochester (N.Y.) Top 100," a ranking of privately held companies based on their three most recent years of revenue growth. Companies must generate at least $1 million in revenue during each of those three years; the ranking takes into account dollar and percentage growth. Fairport, N.Y.-based RailComm provides machine-to-machine technology solutions for freight and passenger railroads, and industrial operations.

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More News from 11/4/2010