"Fourth Quarter HighlightsCarloads up 4% and revenue up 17% versus fourth quarter 2009.Income from continuing operations of $0.33 per share.Adjusted income from continuing operations(1) of $0.38 per share.45G tax credits contribute $0.20 per share.Board of Directors approves $50 million stock repurchase program.RailAmerica, Inc. (NYSE: RA) today reported financial results for the quarter and year ended December 31, 2010. Fourth quarter 2010 revenue increased 17% to $127.6 million from $109.2 million in the fourth quarter of 2009. Freight revenue increased 13% to $98.0 million with carloads up 4%. Non-freight revenue increased 34% to $29.6 million. Excluding the acquisition of Atlas Railroad Construction Company and the new Ottawa Valley Railway operating agreement, non-freight revenue increased 18% versus fourth quarter 2009.John Giles, RailAmerica's President and Chief Executive Officer, said "We had a strong finish to 2010 and are well positioned for further progress as we move into 2011. Our fourth quarter operating income was up 35% excluding the impacts of 45G tax credits, asset sales and last year's IPO-related charges. We intend to build on this solid base during 2011 as we continue to leverage a slow, but improving economy, continuous improvements in productivity, and the effective deployment of capital.""Given our strong cash position and cash flow, we have announced a $50 million share repurchase program. We see repurchasing our shares as an excellent investment, which complements our focus on building shareholder value through organic growth and acquisitions..."link:http://investor.railamerica.com/phoenix.zhtml?c=66000&p=...John
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