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• L.B. Foster Co. reported second-quarter 2009 net sales decreased 27.8 percent to $93.8 million compared with $129.8 million for the same 2008 period; rail sales were down 27.2 percent. The company earned net income of $2.7 million, a 65 percent drop compared with the $7.7 million earned in 2Q 2008. At 13.7 percent, Q2’s gross profit margin was down 320 basis points from the same 2008 period primarily as a result of a $1.1 million warranty charge taken to recognize a revised number of concrete ties that failed in track as well as $2.6 million of unfavorable gross profit adjustments, the company said. “We are beginning to see areas of opportunity generated from the recent stimulus legislation in our transit and piling businesses and expect further increases in activity as funding progresses, but this activity will not compensate for the shortfalls created by the current economic downturn,” President and CEO Stan Hasselbusch said in a prepared statement.

• FreightCar America Inc. revealed that it had identified historical accounting errors in accounts payable — the account was overstated in a range of $10 million to $14 million as of March 31, the company estimates. FreightCar America officials also are reviewing the extent to which the errors resulted in the understatement of net earnings since fourth-quarter 2007. On July 27, the board of directors’ audit committee concluded the company’s previously issued audited consolidated financial statements as of and for the fiscal years ended Dec. 31, 2008, and Dec. 31, 2007, and related auditors’ report, and unaudited interim consolidated financial statements as of and for the quarterly periods ended March 31, 2009, Dec. 31, 2008, Sept. 30, 2008, June 30, 2008, March 31, 2008, and Dec. 31, 2007 “should no longer be relied upon because of these errors in the financial statements,” according to a prepared statement. The company plans to restate the financial statements. “This issue has not, and will not, affect our ability to successfully run the business and achieve our long-term strategic goals,” said President and CEO Christian Ragot. Meanwhile, the company also announced a few preliminary financial metrics for second-quarter 2009: revenue is expected to be $104 million; the company received 694 rail-car orders; and the backlog of unfilled orders was 1,472 units as of June 30, 2009.

• Pacer International Inc. has entered into an agreement to sell “certain assets” to Universal Truckload Services Inc. and UTS Leasing Inc. (UTSI), according to a prepared statement. The assets include customer, contractor and agent lists, and owned trailers of Pacer Transport, a specialized heavy-haul trucking operation. As part of the deal, UTSI also will assume two real property leases and equipment leases for tractors and trailers used in the operation. The deal is expected to close in August.

• A consortium comprising Thales and Alcatel-Lucent Shanghai Bell was selected by the Chinese cities of Wuhan and Guangzhou to provide turnkey signaling solutions for a range of metro projects. Wuhan Metro Group selected the consortium to provide an end-to-end signaling solution for the Wuhan Metro Line 1 Phase II project. The project is scheduled to be completed by June 2010. The Phase II extension covers 12 miles and includes 17 new stations. Guangzhou Metro Corp. awarded the consortium a project that covers 19.2 miles and includes 11 stations, and is scheduled for completion by October 2010. For both Wuhan and Guangzhou projects, Thales will provide its SelTrac communications-based train control system. Alcatel-Lucent Shanghai Bell will be responsible for project management and network integration service, as well as maintenance of this multi-vendor solution.

• In June 2009, Loram Maintenance of Way Inc. celebrated a two-and-one-half-year stretch — more than 4 million man hours — without a lost-time injury, and the streak continued through July, the company reported late last week. “Loram recognizes that this safety record is a company-wide effort, reflecting a culture incorporated in the way our machines are designed, built and operated,” according to a prepared statement. In addition, Loram also received the 2009 Minnesota Governor’s Award for Safety — an award the company’s received 13 of the past 14 years.