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Microcap & Penny Stocks : Tokyo Joe's Cafe / Anything goes -- Ignore unavailable to you. Want to Upgrade?

To: Joe Copia who wrote (17415)	5/13/1998 2:27:00 PM
From: PitBull	Respond to of 34592

Great Play for today.. Wednesday May 13, 2:04 pm Eastern Time Company Press Release RailAmerica, Inc. Reports Record First Quarter 1998 Results Revenues Increase 65% Operating Income Rises 103% BOCA RATON, Fla.--(BUSINESS WIRE)--May 13, 1998--RailAmerica, Inc. (Nasdaq/NNM:RAIL - news) today announced its financial results for the first quarter ended March 31, 1998. The Company reported record first quarter revenues, carloadings, operating income, income from continuing operations and net income. Operating revenues for the first quarter of 1998 were $14.4 million, up 65% from the $8.7 million reported in the first quarter of 1997. Operating income increased 103% to $2.0 million, from $1.0 million in 1997. Income from continuing operations for the 1998 first quarter rose to $667,878, or $.07 per basic share, on 9.2 million weighted average common shares, versus $112,668, or $.01 per basic share, on 7.5 million weighted average common shares in the 1997 quarter. Net income for the first quarter of 1998, after the loss from discontinued operations of the Company's motor carrier segment, was $602,637, or $.07 per basic share, an increase of $550,000 over the $50,988, or $.01 per basic share, reported in the comparable 1997 period. Revenues from rail operations for the quarter rose 30% to $5.6 million, from $4.3 million in 1997. Rail freight carloadings totaled 19,878 in the first quarter of 1998, a 42% increase over the 13,952 reported in the first quarter of 1997. The growth in carloadings was primarily attributable to the inclusion of the Company's railroad in Chile acquired in February of 1997.