JACKSONVILLE, Fla., May 10, 2012 /PRNewswire/ -- RailAmerica, Inc. (NYSE: RA) today reported that its total freight carloads in April 2012 were 71,936 compared with 72,081 in April 2011.
The Company increased shipments in April 2012 in eight out of twelve commodity groups compared to April 2011. The largest increases were in Motor Vehicles, Petroleum and Other. Motor Vehicles were up primarily due to increased carloads in the Midwest region. Petroleum was higher primarily due to increased shipments in the Midwest and West regions. Other increased primarily due to higher shipments in the Northeast and Central regions.
The largest declines were in Coal and Metallic Ores and Metals. Coal decreased primarily due to lower shipments in the Central region. Metallic Ores and Metals were lower primarily due to fewer shipments in the Northeast region.
April 2012 carloads include 1,414 carloads from the acquisition of three railroads in Alabama and the Wellsboro and Corning Railroad (WCOR). RailAmerica completed its acquisition of a 70% interest in the WCOR on April 9, 2012. All of the carloads moved by the WCOR from April 9th are included in RailAmerica's consolidated carload numbers. On a "same railroad" basis, carloads decreased 2.2%.
RailAmerica, Inc. owns and operates short-line and regional freight railroads in North America, operating a portfolio of 45 individual railroads with approximately 7,500 miles of track in 28 U.S. states and three Canadian provinces.
Cautionary Note Regarding Forward-Looking Statements
Certain items in this press release and other information we provide from time to time may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 including, but not necessarily limited to, statements relating to future events and financial performance. Words such as "anticipates," "expects," "intends," "plans," "projects," "believes," "appears," "may," "will," "would," "could," "should," "seeks," "estimates" and variations on these words and similar expressions are intended to identify such forward-looking statements. These statements are based on management's current expectations and beliefs and are subject to a number of factors that could lead to actual results materially different from those described in the forward-looking statements. RailAmerica, Inc. can give no assurance that its expectations will be attained. Accordingly, you should not place undue reliance on any forward-looking statements contained in this press release. Factors that could have a material adverse effect on our operations and future prospects or that could cause actual results to differ materially from RailAmerica, Inc.'s expectations include, but are not limited to, prolonged capital markets disruption and volatility, general economic conditions and business conditions, our relationships with Class I railroads and other connecting carriers, our ability to obtain railcars and locomotives from other providers on which we are currently dependent, legislative and regulatory developments including rulings by the Surface Transportation Board or the Railroad Retirement Board, strikes or work stoppages by our employees, our transportation of hazardous materials by rail, rising fuel costs, goodwill assessment risks, acquisition risks, competitive pressures within the industry, risks related to the geographic markets in which we operate; and other risks detailed in RailAmerica, Inc.'s filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K and our Quarterly Reports on Form 10-Q. In addition, new risks and uncertainties emerge from time to time, and it is not possible for RailAmerica, Inc. to predict or assess the impact of every factor that may cause its actual results to differ from those contained in any forward-looking statements. Such forward-looking statements speak only as of the date of this press release. RailAmerica, Inc. expressly disclaims any obligation to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in its expectations with regard thereto or change in events, conditions or circumstances on which any statement is based.
RailAmerica, Inc. Carload Comparisons by Commodity Group Month Ended April 30, 2012 and 2011, respectively
Non-Metallic Minerals and Products
Metallic Ores and Metals
Pulp, Paper & Allied Products
Waste & Scrap Materials
Food or Kindred Products
Less TNHR, WGCR, COEH and WCOR*
* Three Notch Railroad (TNHR), Wiregrass Central Railroad (WGCR), Conecuh Valley Railroad (COEH) and Wellsboro and Corning Railroad (WCOR). Represents 100% of WCOR carloads.
SOURCE RailAmerica, Inc.