(The following appeared on The Journal of Commerce website on April 28, 2011.)
Short line operator RailAmerica swung to a $4.1 million net gain in the first quarter from a $2.5 million loss in the 2010 period, another in a string of rebounding financial reports as the rail industry continues to strengthen.
The company that runs 40 small railroads covering 7,300 track miles in the U.S. and Canada saw overall shipment volume shrink 1 percent, but freight receipts grew 3 percent and overall revenue increased 9 percent to $125 million. RailAmerica said increases in freight rates and fuel surcharges, an improved mix of cargoes and non-freight revenue more than offset the modest decline in volume.
Full story: www.joc.com