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Rail News Home Financials

12/8/2005



Rail News: Financials

Florida East Coast expects more railway revenue, profits by year end


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Today, Florida East Coast Industries Inc. announced Florida East Coast Railway’s (FECR) 2005 revenue will be higher than originally estimated.

Revenue will range between $230 million and $235 million — an increase of up to 17 percent compared with 2004 — and operating profit will total between $59 million and $61 million, an increase of up to 29 percent compared with last year.

The new estimates also take into account impacts from Hurricana Wilma, which shut down the 351-mile regional for two weeks in fall. FECR’s fourth-quarter revenue is expected to decrease between $1.5 million and $2.5 million. The railroad will incur about $2.5 million to $3 million in incremental storm-related expenses, such as clean up, property damage, grade crossing operations and support, and additional crews.