(RailAmerica issued the following news release on September 10.)
BOCA RATON, Fla. — RailAmerica, Inc. today reported its freight carloads (including intermodal units) for August 2003.
Consolidated Carloads
Consolidated carloads for August 2003 decreased 4.3% to 118,059, from 123,326 in August 2002. Year-to-date through August 31, 2003, total carloads were 941,219, down 1.2% from 952,771 in 2002. Both month and year-to-date consolidated carloads continue to be significantly impacted by the Australian drought.
North American Carloads
Total North American carloads for August 2003 were 95,354, down 0.8% from 96,118 in August 2002. On a “same railroad” basis, August 2003 carloads decreased 3.9% to 92,411, from 96,118 in 2002. For the month, strong agricultural products, metallic ores and lumber shipments were offset by lower auto, intermodal and bridge traffic carloads. Year-to-date through August 31, 2003, total North American carloads were 745,259, up 1.6% from 733,807 in 2002. On a “same railroad” basis, year-to-date carloads increased 1.1% to 737,508, from 729,797 in 2002. “Same railroad” totals exclude carloads associated with railroads, or portions of railroads, sold or acquired by the Company after January 1, 2002.
International Carloads
For August 2003, international carloads were 22,705, down 16.6% from 27,208 in August 2002. For the month, traffic in Chile was up 13.2%, or 1,309 carloads, due to increased metallic/non-metallic ores and petroleum carloads, while Australia traffic was down 33.6%, or 5,812 carloads, due to the severe drought affecting grain shipments. Australia’s August 2003 agricultural shipments were 2,025 carloads, 67.8% lower than the 6,295 carloads in August 2002. Year-to-date through August 31, 2003, total international carloads were 195,960, down 10.5% from 218,964 in 2002.
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 and segment carloads by commodity group for the month and year-to-date ended August 31, 2003 and 2002.
RailAmerica, Inc. (NYSE:RRA) is the world’s largest short line and regional railroad operator with 50 railroads operating approximately 17,700 miles in the United States, Canada, Australia, Chile and Argentina, including track access arrangements. The Company is a member of the Russell 2000(R) Index. Its website may be found at http://www.railamerica.com.