GREENBRIER POSTS FISCAL PROFIT DESPITE 4TH-QUARTER LOSS
The Greenbrier Cos. reported a fiscal fourth-quarter net loss of $623,000, compared to a record $5.4 million gain in the fourth quarter of 2000.
Revenues were $135 million, down 17 percent, for the Lake Oswego, Ore.-based supplier of transportation equipment and services to the North American railroad industry.
For the fiscal year ended Aug. 31, the company recorded net income of $1.1 million, down 92 percent. Revenue was $594 million, down 4 percent.
'Market conditions in the North American rail supply industry remain depressed and we have, as of yet, not seen signs of recovery,' said William A Furman, president and chief executive officer. 'Industry-wide, new orders are at levels of less than half of a year ago and are at a third of industry deliveries in 1999.'