Hensel Phelps Construction Co. awarded a $28 million design-build subcontract to Granite Construction Inc. to work on Sound Transit's planned light-rail operations and maintenance facility in Bellevue, Washington. Granite's scope of work includes site demolition, site grading, utilities installation, pedestrian-trail construction and asphalt paving. Construction is scheduled to begin in late 2017 and will wrap up by late 2020. The facility will provide storage and maintenance for 96 light-rail vehicles.
American Railcar Industries Inc. (ARI) reported third-quarter 2017 net income of $8.9 million, or 46 cents a share, compared with $7.7 million, or 40 cents a share, in the same period in 2016. Total revenue for the quarter fell 17 percent to $120.7 million versus $145 million last year. The drop resulted from decreased revenue in the manufacturing segment, partially offset by increased revenue in the rail-car leasing and services segments. During 2017's third quarter, ARI shipped 618 rail cars for direct sale and 338 rail cars for lease versus 855 units for direct sale and 322 cars for lease during the same period last year.
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