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Despite an “unprecedented year in terms of the economy,” the Alaska Railroad Corp. (ARRC) registered 2008 total revenue of $180.4 million and net income of $12.6 million, according to the railroad’s annual report. In 2007, ARRC generated total revenue of $169.3 million and earned net income of $16.3 million.

Annual freight revenue totaled $96.3 million, up 5 percent, and passenger-rail revenue totaled $24.6 million, up 5 percent compared with 2007 totals. The railroad carried 542,167 passengers, down 3 percent.
                                    
“The board of directors saw the downhill trend coming and made sure the railroad was on sound economic footing to handle the uncertainty we encountered in 2008,” said ARRC Chariman John Binkley in a prepared statement. “Not only did we ride out a strong and turbulent business climate, we managed to keep the Alaska Railroad positioned and on course for dealing with what’s ahead — more uncertainty.”

An electronic copy of the annual report is available online at http://www.akrr.com/arrc190.html.