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Rail News: Passenger Rail
4/2/2003
Rail News: Passenger Rail
Alaska Railroad: Annual report shows increased net earnings, cost savings from fewer personnel injuries
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Alaska Railroad Corp. (ARRC) recently released its 2002 annual report, showing net earnings had doubled.
The railroad reported net earnings of $8.9 million and total revenue of $105.7 million, compared with net earnings of $6.6 million and revenue of $107.3 million in 2001. ARRC slightly increased passenger-service and real estate revenue to help offset a decrease in freight revenue.
ARRC also improved productivity, reduced lost-time costs and lowered workers’ compensation costs by achieving its best-ever personnel safety record, according to a prepared statement.
The railroad reported net earnings of $8.9 million and total revenue of $105.7 million, compared with net earnings of $6.6 million and revenue of $107.3 million in 2001. ARRC slightly increased passenger-service and real estate revenue to help offset a decrease in freight revenue.
ARRC also improved productivity, reduced lost-time costs and lowered workers’ compensation costs by achieving its best-ever personnel safety record, according to a prepared statement.
