BOCA RATON, Fla. — RailAmerica, Inc., the world’s largest short line and regional railroad operator, today announced that total carloads (including intermodal units) for August 2002 increased 18.4% to 124,005, from 104,746 in 2001. Year-to-date through August 31, 2002, total carloads increased 16.7% to 955,308, from 818,279 in 2001. Total carloads for 2002 include the StatesRail and ParkSierra acquisitions. On a “same railroad” basis, August 2002 carloads were down 1.6% to 101,007, from 102,691 in 2001. Year-to-date through August 31, 2002, “same railroad” carloads decreased 1.6% to 789,641, from 802,426 in 2001.
North American Carloads
Total North America carloads for August 2002 were up 26.9% to 96,797, versus 76,294 in 2001. Year-to-date through August 31, 2002, total North American carloads increased 23.4% to 736,344, versus 596,739 in 2001. On a “same railroad” basis, August 2002 carloads of 73,799 were comparable to 2001 carloads of 74,239. Year-to-date through August 31, 2002, “same railroad” carloads decreased 10,209 carloads, or 1.8%, to 570,677, from 580,886 in 2001. For the year, Canadian “same railroad” traffic was down 12,738 cars, attributable to lower bridge traffic of 13,087 cars as previously announced. U.S. “same railroad” carloads were up 2,529 cars for the year.
International Carloads
For August 2002, international total and “same railroad” carloads were down 4.4% to 27,208, from 28,452 in 2001. In Chile, August 2002 traffic was up 1,716 carloads due primarily to increased shipments associated with its new copper ore contract, while Australian grain traffic was down 3,309 carloads due to previously announced drought conditions in the grain region served as compared with last year’s above average grain harvest. Year-to-date through August 31, 2002, international total and “same railroad” carloads decreased 1.2% to 218,964 compared to 221,540 in 2001. For the year, new copper traffic in Chile was offset by lower grain shipments in Australia.
Historically, the Company has found that carload information may be indicative of freight revenues on its railroads, but may not be indicative of total revenues, operating expenses, operating income or net income. Attached is a comparison of consolidated carloads by commodity group for the month and year-to-date as of August 31, 2002 and 2001, as well as carloads by country of origin for the month and year-to-date.
RailAmerica, Inc. (www.railamerica.com ), the world’s largest short line and regional railroad operator, owns 49 railroads operating approximately 12,800 route miles in the United States, Canada, Australia and Chile. In North America, the Company’s railroads operate in 27 states and six Canadian provinces. Internationally, the Company operates an additional 4,300 route miles under track access arrangements in Australia and Argentina. RailAmerica is a member of the Russell 2000® Index and in October 2001 was ranked 85th on Forbes magazine’s list of the 200 Best Small Companies in America.