RailAmerica reports $7.7 million 3rd quarter net income

RailAmerica reports $7.7 million 3rd quarter net income    Boca Raton, Fla.-based RailAmerica Monday reported third quarter net income of $7.7 million, compared to a net loss of $33.1 million in the same quarter 2004.
   RailAmerica is a holding company for 47 short-line railroads operating approximately 8,900 miles in the United States and Canada.
   RailAmerica’s operating income for the quarter soared 285 percent to $13.3 million, from $3.4 million in the year earlier period. Revenue jumped 12.5 percent to $112.5 million, from $99.9 million.
   The company said its average fuel price increased to $1.84 per gallon in the third quarter, compared to $1.40 per gallon in the third quarter of 2004.
   For the year to date, RailAmerica posted net income of $23.1 million, compared to a net loss of $30.2 million after nine months last year. Operating income improved 33.4 percent to $39.9 million, from $29.9 million. Revenue increased 14.1 percent to $333 million from $292 million.