Press Releases

Highlights - First quarter 2003 results from continuing North American operations were nearly break-even on revenues of $97 million. This compares to a loss of $.8 million on revenues of $71 million from North American operations in the first quarter of 2002. - Enhanced performance in North America and Europe in the first quarter of fiscal 2003 led to improved bottom line results. A net loss of $.7 million, or $.05 per share, was realized for the quarter. This compares to a net loss of $5 million, or $.36 per share, in the first quarter of fiscal 2002. - The Company received new orders for 1,700 freight cars in its first quarter of fiscal 2003, with a value of approximately $115 million. - New railcar manufacturing backlog in North America and Europe continued to rise to 5,700 units valued at $310 million at November 30, 2002, compared to 5,200 units valued at $280 million at August 31, 2002. - The Company continues to maintain strong liquidity. After debt paydowns of $7 million, first quarter 2003 cash balances were virtually unchanged at nearly $60 million; unused lines of credit approached $110 million in North America. - Subsequent to November 30, 2002, Greenbrier received a U.S. tax refund of nearly $15 million in cash related to tax benefits recorded in 2002.