JACKSONVILLE, Fla., Sept. 12, 2011 /PRNewswire/ -- RailAmerica, Inc. (NYSE: RA) today reported that its total freight carloads for the month ended August 31, 2011 were 72,697, down 0.3% from 72,927 in August 2010. Lower coal shipments were the main reason for the decline. Excluding coal, carloads were up 3.9%.
The Company increased shipments in August 2011 in seven out of twelve commodity groups compared to August 2010. The largest increases were in Pulp, Paper & Allied Products, Forest Products, and Food or Kindred Products. Pulp, Paper & Allied Products were up primarily due to higher shipments in the Southeast and Central regions. Forest Products strengthened primarily due to increased shipments in the Northeast and Central regions. Food or Kindred Products increased primarily due to stronger shipments in the Southeast, West and Central regions.
The largest declines were in Coal and Agricultural Products. Coal carloads primarily reflect decreased shipments due to source shifts affecting the Indiana Southern Railroad. Agricultural carloads were down primarily due to fewer shipments in the West and Midwest.
August 2011 carloads include 383 carloads from the acquisition of three railroads in Alabama. On a "same railroad" basis, carloads declined 0.8%.
RailAmerica, Inc. owns and operates short-line and regional freight railroads in North America, operating a portfolio of 43 individual railroads with approximately 7,400 miles of track in 27 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 August 31, 2011 and 2010
Non-Metallic Minerals and Products
Pulp, Paper & Allied Products
Metallic Ores and Metals
Waste & Scrap Materials
Food or Kindred Products
Less TNHR, WGCR & COEH*
* Three Notch Railroad (TNHR), Wiregrass Central Railroad (WGCR), and Conecuh Valley Railroad (COEH)
SOURCE RailAmerica, Inc.