The Alaska Railroad Corporation has released its 2011 annual report today, with audited financial statements showing $13.4 million net income on total revenues of $185.7 million.
Despite a decline in some lines of business, freight train revenue increased 12.7% thanks to expanded coal exports and a 3% volume increase in interline (barge-rail) railcar traffic from Seattle and Canada.
Likewise, passenger revenue rose by 7.7% as ridership grew from 405,000 in 2010 to 413,000 in 2011.
Beyond train operations, ARRC real estate leasing and permitting provided net income of $8.5 million, which remains crucial to meeting the ARRC mandate to remain
While owned by the State of Alaska, ARRC receives no state money to support operations. Net income is used to fund capital investments, match federal dollars, and support workforce programs.