Greenbrier vows additional sell-offs as net income falls

Apr 05, 2013 | 08:48 AM | Frank Haflich

Tags  Greenbrier, rail cars, Timken, William A. Furman, earnings results, Frank Haflich

LOS ANGELES — Greenbrier Cos. saw its quarterly net income fall sharply, and the rail car manufacturer has vowed to sell off additional assets in order to "liberate" capital.

The Lake Oswego, Ore.-based company posted net income of $13.84 million for the three months ended Feb. 28, down 21.7 percent from $17.67 million in the same period a year earlier on revenue that fell 7.6 percent to $423.17 million. For the fiscal first half, net income fell 24.6 percent to $24.27 million from $32.19 million a year earlier on revenue that dipped....

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