LAKE OSWEGO, Ore. (AP) - Railcar manufacturer Greenbrier Cos. said Tuesday its third-quarter profit dropped 38 percent, hurt by a dip in revenue in the company's manufacturing division. For the quarter ended May 31, net income fell to $8.1 million, or 49 cents per share, from $13 million, or 81 cents per share in the prior-year quarter. Analysts polled by Thomson Financial expected profit of 38 cents per share. Revenue fell 1 percent to $382.1 million from $386.6 million in the third quarter of 2007. Analysts predicted revenue of $352.9 million. Sales dropped 16 percent in the company's manufacturing division--its largest. Revenue in the company's refurbishment and parts business rose 29 percent. The company said weaker demand for new railcars and rising raw material costs have hurt its new railcar operations, which are...
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