Greenbrier posts net loss on $72M charge
Jul 03, 2013 | 04:27 PM
| Corinna Petry
CHICAGO Greenbrier Cos. Inc. has fallen sharply into the red. The rail car and barge builder posted a net loss of $56.03 million in its fiscal third quarter ended May 31 in contrast to net income of $19.12 million in the same period last year on revenue that fell 14.6 percent to $433.66 million.
Results were negatively affected by a goodwill impairment charge of $71.8 million related to the companys wheels, repair and parts business. The Lake Oswego, Ore.-based company, which said it will make improvements at six of its 38 facilities and close or sell eight underperforming repair shops, has appointed a new manager to turn around the troubled facilities, which employ more than a third of the segments workforce and....
To access AMM's full content, please log in below. If you do not have an AMM account, we invite you to take a free trial or subscribe below.
Already a registered amm.com user?
Access to amm.com editorial content is granted only to paid subscribers and trialists. If you do not have an active account in your own name, please either subscribe or take a trial and you will have instant access to amm.com content. Sharing your login credentials with individuals who are not subscribers represents a violation of AMM copyright.
Every morning, every minute no matter how often you follow the markets, there's an AMM subscription to fit your needs.
Not sure if you are ready to invest in a subscription right now? Take a free, no-obligation trial. Start your free trial today.