Exhibit 99.1
American Commercial Lines Announces Results for Quarter and Nine Months Ended September 30, 2010
JEFFERSONVILLE, IN, October 28, 2010 — American Commercial Lines Inc. (NASDAQ: ACLI) (“ACL” or the “Company”) today announced results for the quarter and nine months ended September 30, 2010.
Third Quarter 2010 Results
Revenues for the quarter were $207.3 million, a 0.3% decrease compared with $207.9 million for the third quarter of 2009. Transportation revenues increased by $21.6 million or 15.2% on higher grain pricing and improved sales mix, while manufacturing revenue fell $22.7 million or 35.3% primarily due to lower volumes. The Company’s current quarter income from continuing operations of $5.1 million, or $0.39 per diluted share, compared to a loss from continuing operations of $8.8 million or $0.69 per share for the third quarter of 2009. The improved year-over-year quarterly income from continuing operations was driven by stronger transportation segment results and lower interest costs on lower outstanding debt balances, partially offset by lower gains from asset management actions and manufacturing segment results. Results for the third quarter of 2009 included after-tax debt retirement expenses of $11.3 million or $0.89 per share and after-tax manufacturing segment customer contract dispute charges of $1.5 million or $0.12 per share.
Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) from continuing operations for the quarter was $31.7 million with an EBITDA margin of 15.3%, compared to $27.5 million for the third quarter of 2009 with an EBITDA margin of 13.2%. The attachment to this press release reconciles net income to EBITDA.
Commenting on third quarter results, Michael P. Ryan, President and Chief Executive Officer, stated, “The third quarter’s 23.5% comparative improvement in grain pricing, and a modest return of our volumes in bulk commodities and in liquid shipments, helped drive a $10.8 million improvement in our transportation operating income. This improvement also includes $10.1 million in lower net asset management gains than in the prior year quarter. For the last two and a half years we have executed our strategic initiatives, focused on improving our products and services while reducing costs. We have made significant operating improvements resulting in

 


The following information was filed by American Commercial Lines Inc. on Thursday, October 28, 2010 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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