RailAmerica, Inc. recently reported its freight carloads for the month ended April 30, 2005.
Total carloads for April 2005 were 111,993, up 9.8% from 102,035 in April
2004. The acquisitions of the Midland Subdivision and the Chicago Fort Wayne
& Eastern Railroad, net of the impact of the sale of the Arizona Eastern
Railway in 2004, accounted for 4,869 of the carload increase. On a “same railroad” basis, April 2005 carloads increased 5.0% to 106,441, from 101,352 in 2004. The 5,089 carload increase in 2005 was driven by bridge traffic which accounted for 3,033 of the increase. The increase in bridge traffic, which is lower margin business, was partially offset by lower auto shipments and intermodal traffic. On a “same railroad” basis, shipments in nine out of fourteen commodity groups increased.
For the four months ended April 30, 2005, total carloads increased 9.5% to 441,872, from 403,576 in 2004. On a “same railroad” basis for the same period, carloads were 419,689, up 4.7% from 400,947 in 2004. “Same railroad” totals exclude carloads associated with railroads, or portions of railroads, sold or acquired by the Company after January 1, 2004.
Historically, the Company has found that carload information may be indicative of freight revenue on its railroads, but may not be indicative of total revenue, operating expenses, operating income or net income. Attached is a comparison of North America carloads by commodity group for the periods ended April 30, 2005 and 2004.