Exhibit 99.1

FOR IMMEDIATE RELEASE

RailAmerica, Inc. Reports Fourth Quarter and Full Year 2010 Results and
Announces Share Repurchase Program

Fourth Quarter Highlights

	•		Carloads up 4% and revenue up 17% versus fourth quarter 2009.
	•		Income from continuing operations of $0.33 per share.
	•		Adjusted income from continuing operations1 of $0.38 per share.
	•		45G tax credits contribute $0.20 per share.
	•		Board of Directors approves $50 million stock repurchase program.

JACKSONVILLE, FL, February 23, 2011 — RailAmerica, Inc. (NYSE: RA) today reported financial results for the quarter and year ended December 31, 2010. Fourth quarter 2010 revenue increased 17% to $127.6 million from $109.2 million in the fourth quarter of 2009. Freight revenue increased 13% to $98.0 million with carloads up 4%. Non-freight revenue increased 34% to $29.6 million. Excluding the acquisition of Atlas Railroad Construction Company and the new Ottawa Valley Railway operating agreement, non-freight revenue increased 18% versus fourth quarter 2009.

John Giles, RailAmerica’s President and Chief Executive Officer, said “We had a strong finish to 2010 and are well positioned for further progress as we move into 2011. Our fourth quarter operating income was up 35% excluding the impacts of 45G tax credits, asset sales and last year’s IPO-related charges. We intend to build on this solid base during 2011 as we continue to leverage a slow, but improving economy, continuous improvements in productivity, and the effective deployment of capital.”

     “Given our strong cash position and cash flow, we have announced a $50 million share repurchase program. We see repurchasing our shares as an excellent investment, which complements our focus on building shareholder value through organic growth and acquisitions.”

RailAmerica reported fourth quarter 2010 income from continuing operations of $17.9 million, or $0.33 per diluted share. This compares to a loss from continuing operations of $6.9 million, or $0.13 per diluted share in the fourth quarter of 2009. Noteworthy items impacting the fourth quarters of 2010 and 2009 include:

•

45G tax credits: Congress extended the credits in December 2010 resulting in the full-year income statement amount of $17.6 million benefiting the fourth quarter of 2010. In 2009, credits totaling $16.7 million were recognized in the income statement throughout the year with $3.9 million occurring in the fourth quarter. In addition to the income statement impact, a portion of the 45G tax credit was recognized as credits to capital expenditures in 2010 and 2009.

	•		Gain on asset sales: The Company recorded a $26.8 million pre-tax gain in the fourth quarter of 2009 for the termination of the Ottawa Valley Railway lease. Income tax expense included a provision for the gain and repatriation of proceeds.
	•		Amortization of swap termination costs: Non-cash charges of $4.3 million and $6.6 million were recorded in interest expense during the fourth quarter of 2010 and 2009, respectively, due to the June 2009 termination of an interest rate swap agreement.
	•		Debt retirement costs: The early retirement of $74.0 million of senior notes in the fourth quarter of 2009 resulted in charges of $6.9 million, which are reflected in other income (loss) for that quarter.
	•		IPO-related charges: In connection with the fourth quarter 2009 initial public offering (IPO), the company recorded for that quarter a $6.3 million non-cash charge in labor and benefits for the expiration of a restricted stock repurchase feature.

		For the Three Months Ended December 31,
		2010								2009
($ in thousands except EPS)		Pre Tax				EPS				Pre Tax				EPS
45G tax credits		$	17,589			$	0.20			$	3,864			$	0.05
Net gain on asset sales / lease termination			474				0.01				26,694				0.08
Amortization of swap termination costs			(4,309	)			(0.05	)			(6,590	)			(0.08	)
Debt retirement costs			—				—				(6,906	)			(0.08	)
IPO costs			—				—				(6,261	)			(0.08	)

Note: Effective tax rates of 39% and 35% for 2010 and 2009 respectively. OVRR pre tax gain of $26.8 million resulted in $22.7 million of tax expense for the gain and earnings repatriation.

The company reported operating income of $43.8 million in the fourth quarter of 2010 compared to $43.3 million in the fourth quarter of 2009. Fourth quarter operating income and expenses were impacted by 45G tax credits, gains on asset sales and the IPO-related charge discussed above. Other fourth quarter 2010 operating expenses were up due to increased business levels, higher fuel prices and the inclusion of Atlas Railroad Construction Company. Operating income excluding the impact of the 45G tax credits, asset sales and IPO-related charges is shown below.

		For the Three Months Ended
		December 31,
($ in thousands)		2010				2009
Operating revenue		$	127,636			$	109,154
Operating expense			83,881				65,866
Operating income, reported			43,755				43,288
Less: Benefit from 45G tax credit monetization			(17,589	)			(3,864	)
Operating income before 45G Benefit 1			26,166				39,424
Less net gain on sale of assets			(474	)			(26,694	)
Addback IPO charge			—				6,261
Operating income before 45G Benefit, Asset sales & IPO Charge 1		$	25,692			$	18,991

For the full year of 2010, operating revenue increased 15% to $490.3 million from $425.8 million in 2009. Full year 2010 income from continuing operations was $19.1 million, or $0.35 per diluted share. This compares to income from continuing operations of $2.9 million, or $0.07 per diluted share for the full year of 2009.

RailAmerica announced today that its board of directors authorized the repurchase of up to $50 million of the Company’s common stock. Under the program, the Company may purchase common stock from time to time in the open market or in privately negotiated transactions. The amount and timing of the purchase will depend on a number of factors including the price and availability of the Company’s shares, trading volume and general market conditions.

As previously announced, RailAmerica, Inc. will present its fourth quarter earnings on Thursday, February 24, 2011 at 8:30 a.m. Eastern Time via live teleconference and webcast. Those interested in participating via teleconference may dial (877) 756-2088. Callers outside the U.S. may dial (574) 941-1456. The conference ID number is 37000651. Participants should dial in no later than 10 minutes prior to the call. Presentation materials and access to the live webcast will be available in the Investors section of RailAmerica’s website (www.railamerica.com). Following the earnings call, a webcast replay will be archived on the Company’s website. A telephone replay will be available through March 10, 2011 beginning approximately two hours after the call. The recording can be accessed by dialing (800) 642-1687 or (706) 645-9291. The conference ID number is 37000651.

RailAmerica, Inc. owns and operates short line and regional freight railroads in North America, operating a portfolio of 40 individual railroads with approximately 7,300 miles of track in 27 U.S. states and three Canadian provinces.

Cautionary Note Regarding Forward-Looking Statements

Certain items in this press release and other information we provide from time to time may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 including, but not necessarily limited to, statements relating to future events and financial performance. Words such as “anticipates,” “expects,” “intends,” “plans,” “projects,” “believes,” “appears,” “may,” “will,” “would,” “could,” “should,” “seeks,” “estimates” and variations on these words and similar expressions are intended to identify such forward-looking statements. These statements are based on management’s current expectations and beliefs and are subject to a number of factors that could lead to actual results materially different from those described in the forward-looking statements. RailAmerica, Inc. can give no assurance that its expectations will be attained. Accordingly, you should not place undue reliance on any forward-looking statements contained in this press release. Factors that could have a material adverse effect on our operations and future prospects or that could cause actual results to differ materially from RailAmerica, Inc.’s expectations include, but are not limited to, prolonged capital markets disruption and volatility, general economic conditions and business conditions, our relationships with Class I railroads and other connecting carriers, our ability to obtain railcars and locomotives from other providers on which we are currently dependent, legislative and regulatory developments including rulings by the Surface Transportation Board or the Railroad Retirement Board, strikes or work stoppages by our employees, our transportation of hazardous materials by rail, rising fuel costs, goodwill assessment risks, acquisition risks, competitive pressures within the industry, risks related to the geographic markets in which we operate; and other risks detailed in RailAmerica, Inc.’s filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K and our Quarterly

Reports on Form 10-Q. In addition, new risks and uncertainties emerge from time to time, and it is not possible for RailAmerica, Inc. to predict or assess the impact of every factor that may cause its actual results to differ from those contained in any forward-looking statements. Such forward-looking statements speak only as of the date of this press release. RailAmerica, Inc. expressly disclaims any obligation to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in its expectations with regard thereto or change in events, conditions or circumstances on which any statement is based.

###

INVESTOR CONTACT
Ira Berger
Office: 904.538.6332

MEDIA CONTACT
Donia Crime
Office: 904.645.6200
Cell: 404.271.1437

RAILAMERICA, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited)

		For the quarters ended December 31,								For the years ended December 31,
		2010				2009				2010				2009
		(In thousands, except per share data)
Operating revenue		$	127,636			$	109,154			$	490,291			$	425,774
Operating expenses:
Labor and benefits			39,612				42,388				153,993				143,604
Equipment rents			8,262				8,651				34,119				35,978
Purchased services			9,913				7,791				37,971				30,914
Diesel fuel			11,794				10,005				43,316				33,290
Casualties and insurance			4,319				2,830				17,574				16,795
Materials			5,026				3,261				19,607				11,399
Joint facilities			2,122				2,120				8,667				6,942
Other expenses			9,064				8,204				35,226				33,037
Track maintenance expense reimbursement			(17,589	)			(3,864	)			(17,589	)			(16,656	)
Net gain on sale of assets			(474	)			(26,694	)			(2,191	)			(25,839	)
Depreciation and amortization			11,832				11,174				45,091				42,105
Total operating expenses			83,881				65,866				375,784				311,569
Operating income			43,755				43,288				114,507				114,205
Interest expense, including amortization costs			(19,183	)			(24,108	)			(83,775	)			(86,878	)
Other income (loss)			418				(6,721	)			(4,759	)			(8,117	)
Income from continuing operations before income taxes			24,990				12,459				25,973				19,210
Provision for income taxes			7,106				19,327				6,856				16,299
Income (loss) from continuing operations			17,884				(6,868	)			19,117				2,911
Discontinued operations:
Gain on disposal of discontinued business (net of income taxes of $0, $0, $0, and $12,006, respectively)			—				—				—				12,931
Net income (loss)		$	17,884			$	(6,868	)		$	19,117			$	15,842
Dividends declared and paid per common share		$	—			$	—			$	—			$	0.46
Basic earnings (loss) per common share:
Continuing operations		$	0.33			$	(0.13	)		$	0.35			$	0.07
Discontinued operations			—				—				—				0.28
Net income (loss)		$	0.33			$	(0.13	)		$	0.35			$	0.35
Diluted earnings (loss) per common share:
Continuing operations		$	0.33			$	(0.13	)		$	0.35			$	0.07
Discontinued operations			—				—				—				0.28
Net income (loss)		$	0.33			$	(0.13	)		$	0.35			$	0.35
Weighted average common shares outstanding:
Basic			54,864				52,849				54,793				45,979
Diluted			54,864				52,849				54,793				45,979

RAILAMERICA, INC. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS
(Unaudited)

		December 31,
		2010				2009
		(In thousands, except share data)
ASSETS
Current assets:
Cash and cash equivalents		$	152,968			$	190,218
Accounts and notes receivable, net of allowance of $6,767 and $4,557, respectively			74,668				66,619
Current deferred tax assets			12,769				12,697
Other current assets			15,200				21,958
Total current assets			255,605				291,492
Property, plant and equipment, net			981,622				952,527
Intangible assets			140,546				136,654
Goodwill			212,495				200,769
Other assets			13,385				17,187
Total assets		$	1,603,653			$	1,598,629
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Current maturities of long-term debt		$	403			$	669
Accounts payable			66,258				53,948
Accrued expenses			36,913				34,675
Total current liabilities			103,574				89,292
Long-term debt, less current maturities			2,147				3,013
Senior secured notes			571,161				640,096
Deferred income taxes			202,985				185,002
Other liabilities			19,037				21,895
Total liabilities			898,904				939,298
Commitments and contingencies
Stockholders’ equity:
Common stock, $0.01 par value, 400,000,000 shares authorized; 54,859,261 shares issued and outstanding at December 31, 2010; and 54,364,306 shares issued and outstanding at December 31, 2009			549				544
Additional paid in capital and other			636,757				630,653
Retained earnings			65,503				46,386
Accumulated other comprehensive income (loss)			1,940				(18,252	)
Total stockholders’ equity			704,749				659,331
Total liabilities and stockholders’ equity		$	1,603,653			$	1,598,629

RAILAMERICA, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited)
(In thousands)

		Year Ended				Year Ended
		December 31,				December 31,
		2010				2009
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income		$	19,117			$	15,842
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization, including amortization of debt issuance costs classified in interest expense			49,847				52,340
Amortization of swap termination costs			20,891				16,616
Net gain on sale or disposal of properties			(2,191	)			(26,765	)
Foreign exchange gain on debt			—				(1,160	)
Swap termination costs			—				(55,750	)
Loss on extinguishment of debt			8,357				9,499
Equity compensation costs			7,534				10,712
Deferred income taxes and other			2,765				21,057
Changes in operating assets and liabilities, net of acquisitions and dispositions:
Accounts receivable			(2,435	)			10,873
Other current assets			7,512				(3,093	)
Accounts payable			7,574				(3,183	)
Accrued expenses			1,268				(16,677	)
Other assets and liabilities			(3,070	)			(20,771	)
Net cash provided by operating activities			117,169				9,540
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of property, plant and equipment			(62,710	)			(47,789	)
NECR government grant reimbursements			4,884				—
Proceeds from sale/disposition of assets			4,108				90,340
Deferred acquisition/disposition costs and other			—				(355	)
Acquisition, net of cash acquired			(23,926	)			—
Net cash (used in) provided by investing activities			(77,644	)			42,196
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from issuance of senior secured notes			—				709,830
Principal payments on long-term debt			(622	)			(625,898	)
Repurchase of senior secured notes			(76,220	)			(76,220	)
Sale of common stock			(106	)			143,123
Dividends paid to common stockholders			—				(19,485	)
Deferred financing costs paid			(224	)			(20,175	)
Net cash (used in) provided by financing activities			(77,172	)			111,175
Effect of exchange rates on cash			397				356
Net (decrease) increase in cash			(37,250	)			163,267
Cash, beginning of period			190,218				26,951
Cash, end of period		$	152,968			$	190,218

RAILAMERICA, INC. AND SUBSIDIARIES

SELECTED FINANCIAL INFORMATION
(Amounts in thousands)
(Unaudited)

		Years Ended December 31,
		2010								2009
Operating revenue		$	490,291				100.0	%		$	425,774				100.0	%
Operating expenses:
Labor and benefits			153,993				31.4	%			143,604				33.7	%
Equipment rent			34,119				7.0	%			35,978				8.5	%
Purchased services			37,971				7.7	%			30,914				7.3	%
Diesel fuel			43,316				8.8	%			33,290				7.8	%
Casualties and insurance			17,574				3.6	%			16,795				3.9	%
Materials			19,607				4.0	%			11,399				2.7	%
Joint facilities			8,667				1.8	%			6,942				1.6	%
Other expenses			35,226				7.2	%			33,037				7.8	%
Track maintenance expense reimbursement			(17,589	)			-3.6	%			(16,656	)			-3.9	%
Net gain on sale of assets			(2,191	)			-0.5	%			(25,839	)			-6.1	%
Depreciation and amortization			45,091				9.2	%			42,105				9.9	%
Total operating expenses			375,784				76.6	%			311,569				73.2	%
Operating income			114,507				23.4	%			114,205				26.8	%

		Quarters Ended December 31,
		2010								2009
Operating revenue		$	127,636				100.0	%		$	109,154				100.0	%
Operating expenses:
Labor and benefits			39,612				31.0	%			42,388				38.8	%
Equipment rent			8,262				6.5	%			8,651				7.9	%
Purchased services			9,913				7.8	%			7,791				7.1	%
Diesel fuel			11,794				9.2	%			10,005				9.2	%
Casualties and insurance			4,319				3.4	%			2,830				2.6	%
Materials			5,026				3.9	%			3,261				3.0	%
Joint facilities			2,122				1.7	%			2,120				2.0	%
Other expenses			9,064				7.1	%			8,204				7.5	%
Track maintenance expense reimbursement			(17,589	)			-13.8	%			(3,864	)			-3.5	%
Net gain on sale of assets			(474	)			-0.4	%			(26,694	)			-24.5	%
Depreciation and amortization			11,832				9.3	%			11,174				10.2	%
Total operating expenses			83,881				65.7	%			65,866				60.3	%
Operating income			43,755				34.3	%			43,288				39.7	%

RAILAMERICA, INC. AND SUBSIDIARIES
Railroad Freight Revenue, Carloads and Average Freight Revenue
Per Carload
Comparison by Commodity Group
(Unaudited)

		Year ended December 31, 2010												Year ended December 31, 2009
										Average Freight												Average Freight
		Freight								Revenue per				Freight								Revenue per
		Revenue				Carloads				Carload				Revenue				Carloads				Carload
		(In thousands, except carloads and average freight revenue per carload)
Agricultural Products		$	63,999				132,952			$	481			$	56,458				126,683			$	446
Chemicals			59,038				96,105				614				47,475				82,083				578
Coal			39,880				178,735				223				36,914				178,028				207
Metallic Ores and Metals			37,825				66,626				568				23,819				41,602				573
Pulp, Paper and Allied Products			37,379				65,308				572				32,339				62,816				515
Non-Metallic Minerals and Products			34,646				80,376				431				31,622				75,766				417
Food or Kindred Products			28,027				56,812				493				25,386				52,298				485
Forest Products			27,017				47,048				574				26,698				46,999				568
Waste and Scrap Materials			23,765				57,121				416				20,232				53,706				377
Petroleum			19,542				41,952				466				19,433				41,960				463
Other			10,937				29,883				366				17,737				49,613				358
Motor Vehicles			6,694				11,553				579				6,454				17,458				370
Total		$	388,749				864,471			$	450			$	344,567				829,012			$	416

		Quarter Ended December 31, 2010												Quarter Ended December 31, 2009
										Average Freight												Average Freight
		Freight								Revenue per				Freight								Revenue per
		Revenue				Carloads				Carload				Revenue				Carloads				Carload
		(In thousands, except carloads and average freight revenue per carload)
Agricultural Products		$	17,418				35,248			$	494			$	16,542				38,199			$	433
Chemicals			15,109				24,197				624				12,339				21,106				585
Coal			10,219				44,593				229				8,576				41,687				206
Pulp, Paper and Allied Products			9,571				16,258				589				8,233				15,639				526
Non-Metallic Minerals and Products			8,641				19,752				437				7,002				16,896				414
Metallic Ores and Metals			8,627				15,412				560				6,964				11,683				596
Food or Kindred Products			7,206				14,195				508				6,168				13,102				471
Forest Products			6,331				10,957				578				6,139				10,995				558
Waste and Scrap Materials			5,844				13,760				425				5,441				13,944				390
Petroleum			5,051				10,946				461				5,045				10,700				471
Other			2,602				7,785				334				2,211				6,434				344
Motor Vehicles			1,368				2,351				582				2,300				6,053				380
Total		$	97,987				215,454			$	455			$	86,960				206,438			$	421

RECONCILIATION OF NON-GAAP FINANCIAL MEASURES TO GAAP MEASURES

     Adjusted income from continuing operations is a supplemental measure of profitability that is not calculated or presented in accordance with U.S. generally accepted accounting principles (“GAAP”). We use non-GAAP financial measures as a supplement to our GAAP results in order to provide a more complete understanding of the factors and trends affecting our business. However, Adjusted income from continuing operations has limitations as an analytical tool. It is not a measurement of our profitability under GAAP and should not be considered as an alternative to Income (loss) from continuing operations as a measure of profitability.

     Adjusted income from continuing operations assists us in measuring our performance and profitability of our operations without the impact of foreign exchange loss (gain) on debt and transaction costs related to debt extinguishment, acquisitions and swap termination. The following table sets forth the reconciliation of Adjusted income from continuing operations.

		2010
		Q1									Q2									Q3									Q4									Q4 YTD
(In thousands, except per share data)		After Tax				Per Share					After Tax				Per Share					After Tax				Per Share					After Tax				Per Share					After Tax				Per Share
Income (loss) from continuing operations		$	(2,514	)		$	(0.05	)			$	(4,221	)		$	(0.08	)			$	7,968			$	0.15				$	17,884			$	0.33				$	19,117			$	0.35
Add:
Amortization of swap termination costs			3,644				0.07					3,437				0.06					2,973				0.05					2,628				0.05					12,683				0.23
Loss on extinguishment of debt			—				—					5,098				0.09					—				—					—				—					5,098				0.09
Acquisition (income) expense			—				—					159				0.00					(1,043	)			(0.02	)				91				0.00					(793	)			(0.01	)
Adjusted income from continuing operations		$	1,130			$	0.02				$	4,473			$	0.08				$	9,898			$	0.18				$	20,603			$	0.38				$	36,104			$	0.66
Weighted Average common shares outstanding (dilluted)			54,568									54,869									54,872									54,864									54,793
		2009
		Q1									Q2									Q3									Q4									Q4 YTD
(In thousands, except per share data)		After Tax				Per Share					After Tax				Per Share					After Tax				Per Share					After Tax				Per Share					After Tax				Per Share
Income (loss) from continuing operations		$	809			$	0.02				$	5,467			$	0.13				$	3,503			$	0.08				$	(6,868	)		$	(0.13	)			$	2,911			$	0.07
Add:
Amortization of swap termination costs			—				—					583				0.01					5,432				0.12					4,284				0.08					10,299				0.22
Foreign exchange loss (gain) on debt			698				0.02					(1,394	)			(0.03	)				—				—					—				—					(696	)			(0.02	)
Loss on extinguishment of debt			—				—					1,556				0.04					—				—					4,489				0.08					6,045				0.13
Acquisition costs			—				—									—					—				—					—				—					—				—
Adjusted income from continuing operations		$	1,507			$	0.03				$	6,212			$	0.15				$	8,935			$	0.20				$	1,904			$	0.04				$	18,559			$	0.41
Weighted Average common shares outstanding (dilluted)			43,604									43,740									43,721									52,849									45,979

Note: Numbers may not add due to rounding

RECONCILIATION OF NON-GAAP FINANCIAL MEASURES TO GAAP MEASURES

     Operating Income Before 45G Benefit, Operating Ratio Before 45G Benefit, Operating Income Before 45G Benefit, Asset sales and IPO Charge and Operating Ratio Before 45G Benefit, Asset sales and IPO Charge are supplemental measures of profitability that are not calculated or presented in accordance with U.S. generally accepted accounting principles (“GAAP”). We use non-GAAP financial measures as a supplement to our GAAP results in order to provide a more complete understanding of the factors and trends affecting our business. However, Operating Income Before 45G Benefit, Operating Ratio Before 45G Benefit, Operating Income Before 45G Benefit, Asset sales and IPO Charge and Operating Ratio Before 45G Benefit, Asset sales and IPO Charge have limitations as an analytical tool. They are not measurements of our profitability under GAAP and should not be considered as an alternative to Operating Income or Operating Ratio as a measure of profitability.

     Operating Income Before 45G Benefit and Operating Ratio Before 45G Benefit assists us in measuring our performance and profitability of our operations without the impact of monetizing the 45G Tax Benefit. Operating Income Before 45G Benefit, Asset sales and IPO Charge and Operating Ratio Before 45G Benefit, Asset sales and IPO Charge assists us in measuring our performance and profitability of our operations without the impact of monetizing the 45G Tax Benefit, asset sales and IPO charges. The following table sets forth the reconciliation of Operating Income Before 45G Benefit from our Operating Income, Operating Ratio Before 45G Benefit from our Operating Ratio, Operating Income Before 45G Benefit, Asset sales and IPO Charge from our Operating Income and Operating Ratio Before 45G Benefit, Asset sales and IPO charge from our Operating Ratio.

		2010
($ in thousands)		Q1									Q2									Q3									Q4									FY
Operating revenue		$	114,941								$	119,457								$	128,257								$	127,636								$	490,291
Operating expense			95,740									96,397									99,766									83,881									375,784
Operating income, reported			19,201									23,060									28,491									43,755									114,507
Operating ratio Reported							83.3	%								80.7	%								77.8	%								65.7	%								76.6	%
Less: Benefit from 45G tax credit monetization			—				0.0	%				—				0.0	%				—				0.0	%				(17,589	)			13.8	%				(17,589	)			3.6	%
Operating income before 45G Benefit			19,201									23,060									28,491									26,166									96,918
Operating ratio before 45G Benefit							83.3	%								80.7	%								77.8	%								79.5	%								80.2	%
Net (gain) loss on sale of assets			(34	)			0.0	%				25				0.0	%				(1,708	)			1.3	%				(474	)			0.4	%				(2,191	)			0.4	%
Addback IPO charge			—				0.0	%				—				0.0	%				—				0.0	%				—				0.0	%				—				0.0	%
Operating income before 45G Benefit, Asset sales & IPO Charge		$	19,167								$	23,085								$	26,783								$	25,692								$	94,727
Operating ratio, before 45G Benefit, Asset sales & IPO Charge							83.3	%								80.7	%								79.1	%								79.9	%								80.7	%

     Note: Numbers may not add due to rounding

		2009
($ in thousands)		Q1									Q2									Q3									Q4									FY
Operating revenue		$	103,218								$	103,265								$	110,137								$	109,154								$	425,774
Operating expense			81,423									79,751									84,529									65,866									311,569
Operating income, reported			21,795									23,514									25,608									43,288									114,205
Operating ratio Reported							78.9	%								77.2	%								76.7	%								60.3	%								73.2	%
Less: Benefit from 45G tax credit monetization			(4,124	)			4.0	%				(4,129	)			4.0	%				(4,539	)			4.1	%				(3,864	)			3.5	%				(16,656	)			3.9	%
Operating income before 45G Benefit			17,671									19,385									21,069									39,424									97,549
Operating ratio before 45G Benefit							82.9	%								81.2	%								80.9	%								63.9	%								77.1	%
Net (gain) loss on sale of assets			(454	)			0.4	%				1,468				-1.4	%				(159	)			0.1	%				(26,694	)			24.5	%				(25,839	)			6.1	%
Addback IPO charge			—				0.0	%				—				0.0	%				—				0.0	%				6,261				-5.7	%				6,261				-1.5	%
Operating income before 45G Benefit, Asset sales & IPO Charge		$	17,217								$	20,853								$	20,910								$	18,991								$	77,971
Operating ratio, before 45G Benefit, Asset sales & IPO Charge							83.3	%								79.8	%								81.0	%								82.6	%								81.7	%

Note: Numbers may not add due to rounding