JOC Staff | Jan 10, 2013 9:13AM EST
Lake Oswego, Ore.-based railroad equipment supplier The Greenbrier Companies reported its profit in the first quarter of its fiscal year 2013, ending Nov. 30, 2012, was $10.4 million, increasing 40.5 percent from $7.4 million in the fourth quarter of fiscal year 2012.
Greenbrier said in its financial report that the increase was mainly because of a lower tax rate in the first quarter.
Quarterly revenue was $415.4 million, dropping 6.3 percent from $443.5 million in the previous quarter, primarily because of lower new railcar deliveries with a higher average sales price.
Based on current business trends and industry forecasts, management anticipates that Greenbrier’s new railcar deliveries in 2013 to be about 13,000 units. Since the beginning of the fiscal year, the company has received orders for 4,200 new railcar units in North America and Europe.
