JACKSONVILLE, Fla., Jan. 15 /PRNewswire-FirstCall/ -- RailAmerica, Inc. (NYSE: RA) today reported its freight carloads for the month ended December 31, 2009. Total carloads for December 2009, excluding Ottawa Valley Railway (OVR), were 67,707, up 6.4% from 63,642 in December 2008.
The Company had increased shipments in December 2009 in eight out of twelve commodity groups compared to December 2008. Much of the increase was due to shipments of Agricultural Products, Motor Vehicles and Chemicals. Agricultural Products were favorably impacted by the delayed harvest in the Midwest. Motor Vehicles and Chemicals were positively impacted by a general increase in demand. Continued softness in construction contributed to fewer carloads in the Forest Products commodity group. Reduced demand for Metallic Ores and Metals accounted for fewer carloads in this commodity group.
RailAmerica announced in December 2009 that the Company was terminating its lease of the OVR. The OVR carloads were 738 and 4,307 for December 2009 and December 2008 respectively. In the second quarter of 2009, the Company restructured the OVR contract, which resulted in the Company recording most of the revenue derived from that contract as non-freight revenue instead of freight revenue and carloads.
RailAmerica, Inc. owns and operates short line and regional freight railroads in North America, operating a portfolio of 40 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," "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, 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 prospectus filed with the Commission on October 13, 2009. 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.
Carload Comparisons by Commodity Group
Month / Quarter to Date Ended December 31, 2009 and 2008
Non-Metallic Minerals & Products
Pulp, Paper & Allied Products
Waste & Scrap Materials
Food or Kindred Products
Metallic Ores & Metals
TOTAL (excluding OVR)
TOTAL (including OVR)
* RailAmerica announced in December 2009 that the Company was terminating its lease of the OVR. In the second quarter of 2009, the Company restructured the OVR contract, which resulted in the Company recording most of the revenue derived from that contract as non-freight revenue instead of freight revenue and carloads.
SOURCE RailAmerica, Inc.