Please wait while we load the requested 10-K report or click the link below:
For release: November 3, 2011, 6:00 a.m. EDT
Greenbrier Reports Strong Fiscal Fourth Quarter; Growing Backlog
EPS, excluding one-time charges, increases to $0.52; backlog continues to grow to 15,400
units valued at $1.2 billion
Lake Oswego, Oregon, November 3, 2011 The Greenbrier Companies (NYSE: GBX) today reported results for its fiscal fourth quarter and fiscal year ended August 31, 2011.
Fourth Quarter Highlights
Revenues for the fourth quarter of 2011 were a record $442.7 million, up from $178.8 million in the prior years fourth quarter.
Adjusted EBITDA for the quarter was $39.1 million, or 8.8% of revenue, compared to $15.5 million, or 8.7% of revenues in the fourth quarter of 2010.
Net earnings attributable to Greenbrier (net earnings) for the quarter were $12.6 million, or $.42 per diluted share, compared to net earnings of $7.7 million, or $.33 per diluted share, in the prior years fourth quarter.
Results for the quarter include a loss on extinguishment of debt of $5.7 million pre-tax, $3.4 million after-tax, for costs associated with the repayment in full of a $72 million term loan. Excluding these charges, net earnings were $16.0 million, or $.52 per diluted share.
Net earnings for the prior years fourth quarter included earnings of $11.9 million, both pre- and net of tax, or $.50 per diluted share, related to a special non-cash item for the release of the liability related to the 2008 deconsolidation of the Companys former subsidiary, TrentonWorks. Excluding this item, net loss for the prior years fourth quarter was $4.2 million, or $0.17 per diluted share.
Fiscal 2011 Highlights
New railcar deliveries in the fourth quarter of 2011 were a record 4,000 units, compared to 700 units in the fourth quarter of 2010. Total new railcar deliveries were 9,400 units in fiscal 2011, compared to 2,500 units in fiscal 2010.
New railcar orders for 5,300 units were received during the quarter; orders for 19,500 units were received during the full fiscal year.
Greenbriers new railcar manufacturing backlog as of August 31, 2011 was 15,400 units with an estimated value of $1.23 billion, compared to 13,600 units with a value of $1.05 billion as of May 31, 2011, and 5,300 units valued at $420 million as of August 31, 2010.
The following information was filed by Greenbrier Companies Inc (GBX) on Thursday, November 3, 2011 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.
View differences made from one year to another to evaluate Greenbrier Companies Inc's financial trajectory
Compare this 10-K Annual Report to its predecessor by reading our highlights to see what text and tables were
removed , and by Greenbrier Companies Inc.