Friday, Greenbrier Companies (GBX) said its first-quarter net loss attributable to controlling interest narrowed to $3.24 million from $3.89 million in the year-ago period. Net loss for the quarter reduced to $3.36 million from $4.46 million in the prior year period. Loss per share for the quarter was $0.19 per share, narrower than $0.23 per share in the previous year. On average, 4 analysts polled by Thomson Reuters expected the company to report a loss of $0.12 per share for the quarter.
Net loss for the quarter includes non cash charges of $1.2 million, net of tax, or $0.07 per diluted share for warrant amortization expense and amortization of convertible debt discount, the company said.
Revenues for the quarter dipped to $171.7 million from $256.1 million in the comparable period. Two analysts estimated revenues of $187.50 million for the quarter.
The company expects 2010 revenues to be lower compared to 2009.
For comments and feedback: editorial@rttnews.com