(Source: RailAmerica, Inc., press release, October 25, 2011)
JACKSONVILLE, Fla. — RailAmerica, Inc. reported financial results for the quarter ended September 30, 2011. Third quarter 2011 revenue increased 9% to $139.7 million from $128.3 million in the third quarter of 2010. Freight revenue increased 7% to $104.7 million with average revenue per car up 14% and carloads down 6%. Non-freight revenue increased 14% to $35.0 million.
Third quarter highlights:
• Revenue increased 9% versus third quarter 2010.
• Income from continuing operations of $0.17 per share.
• Adjusted income from continuing operations (1) of $0.24 per share.
RailAmerica President and Chief Executive Officer John Giles, said, “This was another strong quarter for us. Operating income excluding 45G credits, impairments and asset sales increased 10%. We achieved these results through our continuing focus on pricing, non-freight revenue and productivity. Our success in these areas allowed us to perform well despite lower carloads and the temporary disruption of service on our New England Central Railroad from Hurricane Irene.”
RailAmerica reported third quarter 2011 income from continuing operations of $9.1 million, or $0.17 per diluted share. This compares to $8.0 million, or $0.15 per diluted share in the third quarter of 2010.
Full press release: RailAmerica.com