advertisement

---

• The South Australian government has ordered 22 three-car electric trains from Bombardier Transportation for $278 million. The vehicles, known as the A-City, will be built at the company’s plants in Victoria and Queensland. They will be the first rail vehicles in Australia to meet new stringent international crash standards, according to Bombardier.

• Bombardier reported financial results for the fourth-quarter and fiscal year ended Jan. 31, 2011. For the full year, the company reported net income of $769 million, or 42 cents per diluted share, compared with $707 million, or 39 cents per share, a year earlier. Consolidated revenue fell to $17.7 billion from $19.4 billion a year ago. "This past year has been challenging yet positive," said President and Chief Executive Officer Pierre Beaudoin in a prepared statement. "Our efforts to lean out our cost structure combined with our continued focus on operational excellence have enabled us to increase our profitability despite this year’s reduction in revenues." The transportation group landed a record number of new orders, which brought the company's backlog "to a record level of $33.5 billion at the end of the year," he said.

• Global Railway Industries Ltd. reported a net loss of $1.98 million, or 13 cents per diluted share, in the fourth quarter compared with a net loss of $3.9 million, or 25 cents per diluted share, in fourth-quarter 2009. Revenue increased to $12 million in FY2010 from $10.8 million a year ago. The company reported a loss from continuing operations of $1.8 million in the quarter vs. a loss of $4.3 million a year ago. For the full year, net income shot up to $16.7 million, or $1.09 per diluted share, compared with a net loss of $6.8 million, or 45 cents per share, in 2009. Revenue jumped to $45 million compared with $36 million in 2009.

• The Knorr-Bremse Group's sales rose to $5.2 billion in fiscal-year 2010 compared with $3.9 billion in FY2009. The company attributed its revenue growth in part to strong gains by its rail vehicle systems division in Asia, as well as worldwide recovery in commercial vehicle markets. The rail vehicle division increased sales to $2.8 billion in 2010 compared with $2.2 billion in 2009. In addition to regional growth, the division focused on joint ventures and acquisitions, such as Sigma Coachair Group in Australia and Heine Resistors in Dresden, to expand its market presence.

• On Thursday, the Greenbrier Cos. Inc. announced it increased the size of its previously announced offering of $200 million aggregate principal amount of convertible senior notes due in 2018 to $215 million. The notes are being offered in the United States only to qualified institutional buyers.