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On Friday, the Alaska Railroad Corp. (ARRC) released its 2010 annual report, which shows the railroad earned $13.4 million in net income and generated total revenue of $167.1 million last year compared with $13.9 million and $169.4 million, respectively, in 2009.
 
The report also chronicles ARRC’s efforts to incorporate technology in operating practices, such as a new method to complete a coal run over the mountains in one pass instead of two so train trips are safer and faster.

“This contributed to greatly increased profitability and efficiency on coal runs to Seward at a time when the global market for coal was rising,” ARRC officials said in a prepared statement.
 
In addition, the report reviews several capital projects completed in 2010 that improved infrastructure and expanded services for the passenger division, which completed the year $2.5 million ahead of revenue projections. ARRC completed a freight shed renovation project that met Leadership in Energy and Environmental Design, or LEED, standards and soon will house such tenants as the U.S. Forest Service and Alaska Humanities Forum.
 
“We’ve been working diligently towards a leaner business model, and it is proving successful considering the tough global economy and other challenges we face,” said ARRC President and Chief Executive Officer Chris Aadnesen. “We will continue to make calculated, informed business decisions that benefit our customers and Alaskans, while ensuring the corporation remains financially sound.”