Latest News Continued
Caltrain said Thursday it expects to select a new service operator by June 30, when its current contract with Amtrak ends. The Amtrak contract can be extended on a month-by-month basis for up to one year. ...

SteveBarger, director, Industrial Manufacturers, KeyBanc Capital Markets Inc., said the results “support our positive view on the shares and the railcar cycle.”

Said William A. Furman, president and chief executive officer of The Greenbrier Cos., “Our quarterly results are in line with previously disclosed expectations. We continue to benefit from a recovery in the demand for new railcars. Since August 31, we have received orders for 6,000 new railcars, with an aggregate value of approximately $400 million, demonstrating our ability to capture business as the new cycle begins.

“This new demand is driven in part by an ongoing improvement in new rail traffic,” Furman said. “According to the Association of American Railroads, calendar 2010 North American general freight car loadings were up 9.4% and intermodal loadings were up 14.7% compared to 2009. To address new orders and our growing backlog, we will ramp up production rates beginning this month and plan to open an additional production line in June of 2011. Currently, we anticipate delivering about 9,000 – 10,000 new railcars in fiscal 2011.”

Furman concluded, “In fiscal 2011, we will continue to focus on improving gross margins, executing on operational efficiencies, managing for cash flow and liquidity, leveraging our integrated business model and returning to sustained profitability. Our recent successful stock offering further strengthens our balance sheet and liquidity and positions us to participate in the market upturn while continuing to de-leverage the company.”

 

--> The Greenbrier Cos. Friday reported a net loss for its fiscal first quarter of $2.3 million, or 11 cents per diluted share, compared with a loss of $3.2 million, or 19 cents per diluted share, in the comparable 2010 quarter. Revenue for the first quarter was $201.4 million, up from $171.7 million ...
Robert G. Lewis, publisher of Railway Age from 1956 until not long before he retired from the company in 1995, died Wednesday evening, January 5, in Ormond-by-the-Sea, Fla., at the age of 94. ...
Robert L. Doty, Director of the Peninsula Rail Program, a partnership between Caltrain and the California High Speed Rail Authority, has been appointed Vice President and Director of High Speed Rail Programs by engineering firm HNTB, effective Jan. 21.Doty, 64, has more than 40 years of ex ...
Los Angeles Metro Board Chairman Don Knabe announced Wednesday that “Metro has received welcome news from the Federal Transit Administration that it can proceed with preliminary engineering for the subway extension to Westwood and the Regional Connector underground light rail line that will co ...
U.S. freight carload traffic for the final week of 2010, ending Jan. 1, 2011, was up 5.6% from the comparable week in 2009, the Association of American Railroads reported Thursday. U.S. intermodal traffic for the same week rose 11.9% over one year ago. ...
The Laird Group PLC, a British-based company offering security products and services, has acquired Cattron Group International, Inc. for $90 million. The purchase expands the scope of Laird Technologies’ wireless machine-to-machine (M2M) product offering and the markets those produ ...
A pilot version of the highly anticipated CTA Train Tracker will be launched this month via a dedicated website. Customers using desktop computers or mobile web-enabled devices, such as iPhones, BlackBerries or smartphones, will be able to access estimated arrival times for trains on all eight rail ...
Improvements to the track used by Amtrak’s Crescent (New York-New Orleans) service will result in a temporary schedule change from January 10 through February 17, with trains not operating between Atlanta and New Orleans Monday through Thursday of each week. ...
06 January 2011

Brooklyn

MTA New York City Transit is set to begin repairs and improvements to Brooklyn’s Culver Line, including the rebuilding of the viaduct structure and the renewal of its tracks, signals and switches. It will also rehabilitate the Smith-9th station and restore platforms, canopies, and the histo ...
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