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Vol. 14, No. 38 Week of September 20, 2009
Providing coverage of Alaska and northern Canada's oil and gas industry

Arctic Directory: 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.”

The theme of this year’s report is “Blue and Gold make Green,” which recognizes the integration of ARRC business practices with Alaska’s environment. Environmental green is evidenced by examples such as an early corporate switch to ultra-low-sulfur diesel fuel well ahead of the 2010 deadline, using thermal imaging to detect and repair sources of energy loss in railroad facilities, and the only Leadership in Energy and Environmental Design-certified renovation of a historic building in Alaska.

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



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