Oil Patch Bits: Alaska Railroad releases 2008 annual report

The Alaska Railroad Corp. said April 8 that it has released its 2008 annual report with audited financial statements showing earnings of $12.6 million on total revenues of $180.4 million.

“2008 was unprecedented in terms of the economy,” noted ARRC Board of Directors Chairman John Binkley. “After peaking in 2007, 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. I am happy to report not only did we ride out a strong 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 at www.akrr.com/arrc190.html.