Genesee & Wyoming Inc. Reports Traffic for April 2010

GREENWICH, Conn., May 13, 2010 /PRNewswire-FirstCall/ -- Genesee & Wyoming Inc. (GWI) (NYSE: GWR) today reported traffic volumes for April 2010.

GWI's traffic in April 2010 was 72,023 carloads, an increase of 9,979 carloads, or 16.1 percent, compared with April 2009.

The table below sets forth carloading information for April 2010 and April 2009:

Metals traffic grew 3,557 carloads primarily due to increased steel shipments in GWI's New York/Ohio/Pennsylvania and Southern Regions. Traffic in GWI's Other commodity group grew 2,595 carloads primarily due to increased overhead shipments in GWI's New York/Ohio/Pennsylvania Region. Coal, coke & ores traffic grew 1,584 carloads primarily due to increased coal shipments in GWI's New York/Ohio/Pennsylvania Region. All other traffic increased by a net 2,243 carloads.

On June 15, 2009 GWI announced its intent to discontinue operations of its Huron Central Railway (HCRY) in the fourth quarter of 2009. GWI now operates HCRY under a temporary service contract through August 14, 2010. Starting in August 2009 HCRY carloads are no longer included in this carloadings press release due to the structure of this temporary contract. To facilitate comparison to the prior year, GWI has excluded 826 total HCRY carloads from April 2009 in this press release. However, carloads reported in GWI's Form 10-Q will include HCRY traffic through July 2009.    

Historically, GWI has found that carload information may be indicative of freight revenues on its railroads, but may not be indicative of total revenues, operating expenses, operating income or net income.

GWI owns and operates short line and regional freight railroads in the United States, Canada, Australia and the Netherlands. Operations currently include 62 railroads organized in nine regions, with approximately 6,000 miles of owned and leased track and approximately 3,400 additional miles under track access arrangements. GWI provides rail service at 16 ports in North America and Europe and performs contract coal loading and railcar switching for industrial customers.

SOURCE Genesee & Wyoming Inc.