American Commercial Lines Announces 2009 Fourth Quarter and Annual Results


JEFFERSONVILLE, IN--(Marketwire - February 9, 2010) - American Commercial Lines Inc. (NASDAQ: ACLI) ("ACL" or the "Company") today announced results for the fourth quarter and year ended December 31, 2009.

Fourth Quarter 2009 Results

Revenues for the quarter were $226.9 million, a 16.4% decrease compared with $271.6 million for the fourth quarter of 2008. The decrease in revenue in 2009 was primarily due to changes in the mix of commodities shipped by our transportation customers, decreased towing revenue, lower grain freight rates and lower fuel prices (which are generally passed through to our customers). Total ton-mile volume declined by 1.4% compared to the fourth quarter 2008.

Income from continuing operations for the quarter was $14.2 million or $1.09 per diluted share, compared to $22.9 million or $1.81 per diluted share for the fourth quarter of 2008. Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) from continuing operations for the fourth quarter of 2009 were $45.2 million with an EBITDA margin of 19.9%, compared to $54.5 million for the fourth quarter of 2008 with an EBITDA margin of 20.1%. The attachment to this press release reconciles net income to EBITDA.

The impact of non-comparable items on income from continuing operations in the respective quarters was insignificant. After-tax interest expense for the fourth quarter 2009 increased $2.1 million or $0.16 per diluted share despite lower average debt levels.

Net income for the fourth quarter 2009 was impacted by an after-tax loss of $4.8 million or $0.37 per diluted share on the previously announced sale of Summit Contracting. The results of operations and the sale of Summit Contracting are reflected as discontinued operations for all periods presented.

Full-Year 2009 Results

Revenues for the year ended December 31, 2009 were $846.0 million compared with $1,159.9 million for 2008, a 27.1% decrease, due primarily to lower transportation revenues largely attributable to the items noted in the quarter discussion above. Manufacturing revenues were also lower as 81 fewer barges were built in 2009. The loss from continuing operations for the year ended December 31, 2009 was $2.0 million or $0.16 per diluted share, compared to income from continuing operations of $47.4 million or $3.73 per diluted share for 2008. For the year ended December 31, 2009, EBITDA from continuing operations was $107.8 million compared to $154.1 million for the year ended December 31, 2008. EBITDA margin declined by 0.6 points to 12.7% in 2009.

For the year ended December 31, 2009, significant non-comparable items which impacted the loss from continuing operations included the following after-tax items: (i) debt retirement expenses of $11.3 million or $0.89 per diluted share related to the Company's third quarter debt refinancing, (ii) charges of $2.7 million or $0.21 per diluted share related to manufacturing segment contract disputes and settlements, (iii) non-cash charges related to the Houston office closure of $2.3 million or $0.18 per diluted share, (iv) severance charges of $2.0 million or $0.17 per diluted share and (v) charges of $0.4 million or $0.04 per diluted share related to the bankruptcy of a transportation customer. These charges were partially offset by an accrued vacation reversal due to a change in vacation policy of $1.0 million after-tax or $0.08 per diluted share.

For the full-year 2009, though average outstanding debt declined $42.6 million from the prior year levels, higher effective interest rates on outstanding balances drove after-tax interest expenses $9.1 million higher, negatively impacting 2009 compared to 2008 by $0.72 per diluted share. Full year 2009 results also benefitted from higher after-tax net gains from asset management actions of $4.9 million or $0.38 per diluted share as 2009 gains on asset sales exceeded the prior year, but were offset by lower 2009 income from scrapping surplus barges.

Net income for 2009 was additionally impacted by after-tax charges of $9.9 million or $0.78 per diluted share charge related to the sale of Summit Contracting in November 2009. These charges include the loss on the sale of Summit Contracting, the impairment charge recognized in the third quarter 2009 and Summit's operating losses in 2009. All of these items are reflected in discontinued operations in the Statement of Operations.

Full-year income from continuing operations for 2008 included after-tax debt retirement expenses of $1.5 million or $0.12 per diluted share on the June 2008 amendment of the Company's credit facility, after-tax severance related costs of $1.2 million or $0.10 per diluted share, an after-tax charge of $1.0 million or $0.08 per diluted share for refinancing costs unrelated to the Company's extension of its credit facility, an after-tax goodwill impairment charge of $0.5 million or $0.04 per diluted share, an after-tax charge of $0.3 million or $0.03 per diluted share related to a customer's bankruptcy and an after-tax benefit of $1.4 million or $0.11 per diluted share related to the reversal of the prior year charge for withdrawal from a multi-employer pension plan.

Commenting on fourth quarter and full year results, Michael P. Ryan, President and Chief Executive Officer, stated, "We are pleased with our fourth quarter results, finishing 2009 on a positive note after a second straight year of difficult economic conditions. Our earnings power was greatly impacted this year as our clients shipped less to their customers, and to their own production facilities. With the economy beyond our control, we focused on improving the fundamentals of our business. We aggressively improved our cost structure and productivity by realigning and reducing our assets and personnel. These actions will stabilize our program in the near term and position us to reap greater financial dividends in the coming years. Despite all the economic turmoil, we were still able to pay down debt in 2009 after successfully refinancing our bank loan facility. We continue to be well positioned to pursue our long term strategy of business mix improvement with aggressive cost control."

Transportation Results

The transportation segment's revenues were $177.5 million in the fourth quarter 2009, a decrease of 23.3% over the fourth quarter of the prior year. The revenue decrease was driven by 24.5% lower gross ton-mile pricing on affreightment contracts, 9.8% lower non-grain affreightment ton-mile volume, a 12.4% decline in towing ton-miles and $16.6 million in lower grain pricing that more than offset a 20% increase in grain ton-mile volume. Approximately three quarters of the overall affreightment rate decrease was attributable to lower fuel-neutral pricing on the current year mix of commodities when compared to the prior year. The remainder of the decline was attributable to fuel de-escalations under the Company's contracts. On average, compared to the fourth quarter of 2008, the fuel-neutral rate on dry freight business decreased 17.5% and the liquid freight business decreased 13.5%. Total volume measured in ton-miles declined slightly in the fourth quarter of 2009 to 9.7 billion from 9.8 billion in the same period of the prior year, a decrease of 1.4%. On average, 5.5% or 146 fewer barges operated in the fourth quarter of this year compared to the fourth quarter of last year.

Operating income in the transportation segment decreased 37.3%, or $16.8 million, to $28.3 million in the quarter ended December 31, 2009 compared to the fourth quarter 2008. The operating ratio, or the percentage of revenue that all operating costs represent, in the fourth quarter was 84.1%, a substantial improvement over the prior quarters of 2009 and a decrease of only 3.6 points from the 2008 quarter despite less favorable price/volume/mix. The decrease in operating income was primarily due to the $24.3 million margin impact of lower non-grain rate/volume/mix, $4.2 million in lower grain profitability as the 20% increase in grain volume did not offset the $16.6 million decline in grain pricing, and the $2.2 million incremental cost of relocating empty barges. These negative factors were partially offset by $5.3 million lower SG&A expenses and $8.6 million in improved boat and crewing productivity and other cost reductions. The lower SG&A is attributable to the lower salaried wage base in 2009 as a result of reduction in force actions, decreases in bonus accruals, decreased bank fees and less advertising spending. Fuel prices decreased 32% over fourth quarter 2008. The average cost of fuel in the fourth quarter 2009 was $1.95 per gallon.

The transportation segment's revenues were $621.6 million in 2009, a decrease of 30.8% over the prior year. The revenue decrease was driven by 30.0% lower gross ton-mile pricing on affreightment contracts, 17.2% lower non-grain affreightment ton-mile volume, a 24.9% decline in towing ton-miles and $56.4 million in lower grain pricing that more than offset a 34% increase in grain ton-mile volume. Approximately three quarters of the overall affreightment rate decrease was attributable to lower fuel-neutral pricing on the current year mix of commodities when compared to the prior year. The remainder of the decline was attributable to fuel de-escalations under the Company's contracts. On average, compared to 2008, the fuel-neutral rate on dry freight business decreased 21.9% and the liquid freight business decreased 2.0%. Total volume measured in ton-miles declined in 2009 to 37.1 billion from 39.5 billion in the prior year, a decrease of 6.0%. On average, 5.8% or 159 fewer barges operated during 2009 compared to 2008.

Operating income for the year ended December 31, 2009 in the transportation segment decreased 65.7%, or $60.6 million, to $31.6 million. The decline in operating income resulted primarily from an $84.9 million decline in non-grain price/volume/mix as higher margin commodity volumes continued to be weak throughout the year. The 34% increase in grain volume did not offset the $56.4 million decline in grain pricing, lowering margins by approximately $14.8 million. The incremental cost of relocating empty barges during 2009 was estimated to be $18.3 million. These negative impacts were partially offset by $37.3 million in improved boat productivity, $8.5 million lower SG&A spending, $7.5 million in gains from asset management transactions and $4.1 in other cost reductions. The lower SG&A is attributable to the lower salaried wage base in 2009 as a result of reduction in force actions, decreases in bonus accruals, decreased bank fees and less advertising spending offset by the cost of the Houston office closure and bad debt attributable to the bankruptcy of a customer. Fuel prices decreased 39% over 2008. The average cost of fuel in 2009 was $1.95 per gallon.

Manufacturing Results

Manufacturing revenues were $45.2 million in the fourth quarter of 2009 compared to $37.9 million during the same period last year. Manufacturing operating margin increased by $5.9 million or 14.5 points to 5.7% resulting in an operating income of $2.6 million in the quarter. The revenue increase was driven primarily by a change in mix of internal ACL barges and external customer barges between years. During the fourth quarter 2009 manufacturing sold to third parties 58 dry hopper barges, four tank barges and one special vessel compared to no dry cargo barges, 15 tank barges and one special vessel in the fourth quarter of 2008. The significant improvement in operating margin was primarily driven by the accrual for the $5.5 million loss on one special vessel still under construction during the fourth quarter of 2008.

Manufacturing revenues were $215.5 million for the full-year 2009 compared to $254.8 million for 2008. This decrease was driven by sales of 81 fewer barges and lower steel pricing. During the year manufacturing sold to third parties 130 dry cargo barges, 43 tank barges and four special vessels compared to 191 dry cargo barges, 53 tank barges, 10 hybrid barges and four special vessels during 2008. Manufacturing operating income was $21.4 million for the full-year. This translates to a 9.9% operating margin compared to 3.8% in 2008 as a result of improved pricing, productivity, improved safety and the prior year loss on the special vessel. Our manufacturing sales backlog was $49.4 million at December 31, 2009.

Cash Flow and Debt

At December 31, 2009, the Company had $354.6 million in total debt outstanding. In 2009, the Company generated $129.3 million of cash flow from operations, compared to $122.8 million in the prior year. The increase, on lower net income, was primarily due to working capital changes, mainly lower accounts receivable, lower inventory levels and higher accrued interest. At December 31, 2009, the Company had approximately $234 million in available liquidity under its revolver. During 2009 the Company had $37.7 million of capital expenditures and other investing activities, the cash flow impact of which was largely offset by $31.1 million in proceeds from the disposition of vessels and the sale of Summit Contracting. We reduced our total debt outstanding by $64.0 million. In addition, the Company paid debt costs related to our refinancing activities of $50.1 million, including the $9.6 million of original issue discount on its Senior Notes in July 2009.

Fourth Quarter and Full Year 2009 Earnings Conference Call

ACL will conduct a conference call to discuss the Company's quarter and year ended December 31, 2009 earnings on February 9, 2010 at 10:00 a.m. Eastern time. ACL's live webcast, featuring a slide presentation, may be accessed at www.aclines.com. The telephone numbers to access the conference call are: Domestic (866) 543-6403; International (617) 213-8896; and the Participant Passcode is 68613623. For those unable to participate in the live call or webcast, the ACL Conference Call will be archived at www.aclines.com within three hours of the conclusion of the live call and will remain available through April 9, 2010. The slide presentation will remain archived at www.aclines.com.

American Commercial Lines Inc., headquartered in Jeffersonville, Indiana, is an integrated marine transportation and service company operating in the United States Jones Act trades, with approximately $850 million in revenues and approximately 2,570 employees as of December 31, 2009. For more information about American Commercial Lines Inc., visit www.aclines.com.

Forward-Looking Statements

This release includes certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on management's present expectations and beliefs about future events. As with any projection or forecast, these statements are inherently susceptible to risks, uncertainty and changes in circumstance. Important factors could cause actual results to differ materially from those expressed or implied by the forward-looking statements and should be considered in evaluating the outlook of American Commercial Lines Inc. Risks and uncertainties are detailed from time to time in American Commercial Lines Inc.'s filings with the SEC, including the Form 10-K, as amended, for the year ended December 31, 2008 and our most recent Form 10-Q. American Commercial Lines Inc. is under no obligation to, and expressly disclaims any obligation to, update or alter its forward-looking statements, whether as a result of changes, new information, subsequent events or otherwise.

                      AMERICAN COMMERCIAL LINES INC.
              CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
        (Dollars in thousands, except shares and per share amounts)
                                (Unaudited)


                            Quarter Ended Dec. 31,    Year Ended Dec. 31,
                            ----------------------  ----------------------
                               2009        2008        2009        2008
                            ----------  ----------  ----------  ----------

Revenues
  Transportation and
   Services                 $  181,713  $  233,657  $  630,481  $  905,126
  Manufacturing                 45,198      37,904     215,546     254,794
                            ----------  ----------  ----------  ----------
    Revenues                   226,911     271,561     846,027   1,159,920
                            ----------  ----------  ----------  ----------

Cost of Sales
  Transportation and
   Services                    138,480     168,861     532,224     737,665
  Manufacturing                 42,068      40,868     189,565     242,309
                            ----------  ----------  ----------  ----------
    Cost of Sales              180,548     209,729     721,789     979,974
                            ----------  ----------  ----------  ----------

Gross Profit                    46,363      61,832     124,238     179,946

Selling, General  and
 Administrative Expenses        14,490      19,808      70,082      77,536
Goodwill Impairment                  -         855           -         855

                            ----------  ----------  ----------  ----------
Operating Income                31,873      41,169      54,156     101,555
                            ----------  ----------  ----------  ----------

Other Expense (Income)
  Interest Expense              10,129       6,664      40,932      26,829
  Debt Retirement Expenses           -           -      17,659       2,379
  Other, Net                      (408)       (764)     (1,259)     (2,279)
                            ----------  ----------  ----------  ----------
    Other Expenses               9,721       5,900      57,332      26,929
                            ----------  ----------  ----------  ----------

Income (Loss) from
 Continuing Operations
 before Income Taxes            22,152      35,269      (3,176)     74,626

Income Taxes (Benefit)           8,001      12,363      (1,148)     27,243
                            ----------  ----------  ----------  ----------

Income (Loss) from
 Continuing Operations          14,151      22,906      (2,028)     47,383

Discontinued Operations,
 Net of  Tax                    (4,811)        787     (10,030)        628

                            ----------  ----------  ----------  ----------
Net Income (Loss)           $    9,340  $   23,693  $  (12,058) $   48,011
                            ==========  ==========  ==========  ==========
Basic earnings (loss) per
 common share:
  Income (loss) from
   continuing operations    $     1.11  $     1.81  $    (0.16) $     3.76
  (Loss) income from
   discontinued operations,
   net of tax                    (0.38)       0.06       (0.79)       0.05
                            ----------  ----------  ----------  ----------
Basic earnings (loss) per
 common share               $     0.73  $     1.87  $    (0.95) $     3.81
                            ==========  ==========  ==========  ==========
Earnings (loss) per common
 share - assuming dilution:
  Income (loss) from
   continuing operations    $     1.09  $     1.81  $    (0.16) $     3.73
  (Loss) income from
   discontinued operations,
   net of tax                    (0.37)       0.06       (0.79)       0.05
                            ----------  ----------  ----------  ----------
Earnings (loss) per common
 share - assuming dilution  $     0.72  $     1.87  $    (0.95) $     3.78
                            ==========  ==========  ==========  ==========
Weighted Average Shares
 Outstanding:
Basic                       12,718,041  12,662,471  12,708,492  12,614,799
Diluted                     12,939,401  12,662,471  12,708,492  12,708,074







                      AMERICAN COMMERCIAL LINES INC.
                  CONDENSED CONSOLIDATED BALANCE SHEETS
        (Dollars in thousands, except shares and per share amounts)


                                                December 31,  December 31,
                                                    2009        2008 (1)
                                                ------------  ------------

                    ASSETS
Current Assets
     Cash and Cash Equivalents                  $      1,198  $      1,217
     Accounts Receivable, Net                         93,295       138,695
     Inventory                                        39,070        69,635
     Deferred Tax Asset                                3,791         5,173
     Assets Held for Sale                              3,531         4,577
     Prepaid and Other Current Assets                 23,879        39,002
                                                ------------  ------------
        Total Current Assets                         164,764       258,299
Properties, Net                                      521,068       554,580
Investment in Equity Investees                         4,522         4,039
Other Assets                                          42,635        22,333
                                                ------------  ------------
        Total Assets                            $    732,989  $    839,251
                                                ============  ============

                  LIABILITIES
Current Liabilities
     Accounts Payable                           $     34,163  $     67,719
     Accrued Payroll and Fringe Benefits              18,283        25,179
     Deferred Revenue                                 13,928        13,986
     Accrued Claims and Insurance Premiums            16,947        22,819
     Accrued Interest                                 13,098         1,237
     Current Portion of Long Term Debt                   114         1,420
     Customer Deposits                                 1,309         6,682
     Other Liabilities                                31,825        43,522
                                                ------------  ------------
        Total Current Liabilities                    129,667       182,564
Long Term Debt                                       354,518       418,550
Pension and Post Retirement Liabilities               31,514        44,140
Deferred Tax Liability                                40,133        30,389
Other Long Term Liabilities                            6,567         4,899
                                                ------------  ------------
        Total Liabilities                            562,399       680,542
                                                ------------  ------------

             STOCKHOLDERS' EQUITY
Common stock; authorized 50,000,000 shares at
 $.01 par value; 15,898,596 and 15,813,746
 shares issued and outstanding as of December
 31, 2009 and 2008, respectively                         159           158
Treasury Stock; 3,179,274 and 3,150,906 shares
 at December 31, 2009 and 2008, respectively        (313,328)     (312,886)
Other Capital                                        299,486       293,493
Retained Earnings                                    183,862       195,920
Accumulated Other Comprehensive Income (Loss)            411       (17,976)
                                                ------------  ------------
             Total Stockholders' Equity              170,590       158,709
                                                ------------  ------------
             Total Liabilities and
              Stockholders' Equity              $    732,989  $    839,251
                                                ============  ============


(1) The Consolidated Balance Sheet at December 31, 2008 has been derived
from the audited consolidated financial statements at that date, but does
not include all the information and footnotes required by generally
accepted accounting principles.







                      AMERICAN COMMERCIAL LINES INC.
                   NET INCOME TO EBITDA RECONCILIATION
                          (Dollars in thousands)
                                (Unaudited)

                            Quarter Ended Dec. 31,    Year Ended Dec. 31,
                            ----------------------  ----------------------
                               2009        2008        2009        2008
                            ----------  ----------  ----------  ----------

Net Income (Loss) from
 Continuing Operations      $   14,151  $   22,906  $   (2,028) $   47,383
Discontinued Operations,
 Net of Income Taxes            (4,811)        787     (10,030)        628
                            ----------  ----------  ----------  ----------
Consolidated Net Income
 (Loss)                     $    9,340  $   23,693  $  (12,058) $   48,011
                            ----------  ----------  ----------  ----------
Adjustments from Continuing
 Operations:
  Interest Income                  (54)        (61)        (66)       (148)
  Interest Expense              10,129       6,664      40,932      26,829
  Debt Retirement Expenses           -           -      17,659       2,379
  Depreciation and
   Amortization                 12,960      12,646      52,475      50,446
  Taxes                          8,001      12,363      (1,148)     27,243
Adjustments from
 Discontinued Operations:
  Interest Income                    -          (3)         (1)        (46)
  Interest Expense                   -          11          30          35
  Depreciation and
   Amortization                    214         470       1,363       1,430
  Taxes                         (2,728)        508      (5,611)        388

EBITDA from Continuing
 Operations                     45,187      54,518     107,824     154,132
EBITDA from Discontinued
 Operations                     (7,325)      1,773     (14,249)      2,435
                            ----------  ----------  ----------  ----------
Consolidated EBITDA         $   37,862  $   56,291  $   93,575  $  156,567
                            ==========  ==========  ==========  ==========

EBITDA from Continuing
 Operations by Segment:
Transportation Net Income
 (Loss)                     $   10,468  $   27,015  $  (24,761) $   38,015
  Interest Income                  (54)        (60)        (66)       (145)
  Interest Expense              10,129       6,654      40,932      26,788
  Debt Retirment Expenses            -           -      17,659       2,379
  Depreciation and
   Amortization                 11,993      11,778      48,615      47,255
  Taxes                          8,022      12,234      (1,148)     27,114
                            ----------  ----------  ----------  ----------
Transportation EBITDA       $   40,558  $   57,621  $   81,231  $  141,406
                            ==========  ==========  ==========  ==========

Manufacturing Net Income    $    2,610  $    2,879  $   21,582  $   16,577
  Depreciation and
   Amortization                    882         785       3,524       2,858
                            ----------  ----------  ----------  ----------
Total Manufacturing EBITDA       3,492       3,664      25,106      19,435
  Intersegment Profit                -      (6,299)          -      (6,839)
                            ----------  ----------  ----------  ----------
External Manufacturing
 EBITDA                     $    3,492  $   (2,635) $   25,106  $   12,596
                            ==========  ==========  ==========  ==========



Management considers EBITDA to be a meaningful indicator of operating
performance and uses it as a measure to assess the operating performance of
the Company's business segments. EBITDA provides us with an understanding
of one aspect of earnings before the impact of investing and financing
transactions and income taxes. EBITDA should not be construed as a
substitute for net income or as a better measure of liquidity than cash
flow from operating activities, which is determined in accordance with
generally accepted accounting principles ("GAAP"). EBITDA excludes
components that are significant in understanding and assessing our results
of operations and cash flows. In addition, EBITDA is not a term defined by
GAAP and as a result our measure of EBITDA might not be comparable to
similarly titled measures used by other companies.

However, the Company believes that EBITDA is relevant and useful
information, which is often reported and widely used by analysts, investors
and other interested parties in our industry. Accordingly, the Company is
disclosing this information to permit a more comprehensive analysis of its
operating performance.








                      AMERICAN COMMERCIAL LINES INC.
            Statement of Operating Income by Reportable Segment
                          (Dollars in thousands)
                                (Unaudited)



                 Reportable Segments
                ----------------------
                Transport-  Manufactu-  All Other  Intersegment
                  ation        ring      Segments   Elimination    Total
                ----------  ----------  ----------  ----------  ----------
Quarter ended
 December 31,
 2009
Total revenue   $  177,921  $   55,726  $    4,253  $  (10,989) $  226,911
Intersegment
 revenues              454      10,528           7     (10,989)          -
                ----------  ----------  ----------  ----------  ----------
Revenue  from
 external
 customers         177,467      45,198       4,246           -     226,911
Operating
 expense
  Materials,
   supplies and
   other            55,207           -           -           -      55,207
  Rent               5,381           -           -           -       5,381
  Labor and
   fringe
   benefits         29,506           -           -           -      29,506
  Fuel              30,700           -           -           -      30,700
  Depreciation
   and
   amortization     11,993           -           -           -      11,993
  Taxes, other
   than income
   taxes             3,564           -           -           -       3,564
  Gain on
   disposition
   of equipment        348           -           -           -         348
  Cost of goods
   sold                  -      42,068       1,781           -      43,849
                ----------  ----------  ----------  ----------  ----------
    Total cost
     of sales      136,699      42,068       1,781           -     180,548
  Selling,
   general &
   administrative   12,507         571       1,412           -      14,490
                ----------  ----------  ----------  ----------  ----------
    Total
     operating
     expenses      149,206      42,639       3,193           -     195,038
                ----------  ----------  ----------  ----------  ----------
Operating
 income         $   28,261  $    2,559  $    1,053  $        -  $   31,873
                ==========  ==========  ==========  ==========  ==========

Quarter ended
 December 31,
 2008
Total revenue   $  231,281  $   65,191  $    2,451  $  (27,362) $  271,561
Intersegment
 revenues                -      27,287          75     (27,362)          -
                ----------  ----------  ----------  ----------  ----------
Revenue  from
 external
 customers         231,281      37,904       2,376           -     271,561
Operating
 expense
  Materials,
   supplies and
   other            66,952           -           -           -      66,952
  Rent               5,637           -           -           -       5,637
  Labor and
   fringe
   benefits         32,394           -           -           -      32,394
  Fuel              48,389           -           -           -      48,389
  Depreciation
   and
   amortization     11,778           -           -           -      11,778
  Taxes, other
   than income
   taxes             3,473           -           -           -       3,473
  Gain on
   disposition
   of equipment       (310)          -           -           -        (310)
  Cost of goods
   sold                  -      40,868         548           -      41,416
                ----------  ----------  ----------  ----------  ----------
    Total cost
     of sales      168,313      40,868         548           -     209,729
  Selling,
   general &
   administrative   17,896         389       1,523           -      19,808
  Goodwill
   Impairment            -           -         855           -         855
                ----------  ----------  ----------  ----------  ----------
    Total
     operating
     expenses      186,209      41,257       2,926           -     230,392
                ----------  ----------  ----------  ----------  ----------
Operating
 income (loss)  $   45,072  $   (3,353) $     (550) $        -  $   41,169
                ==========  ==========  ==========  ==========  ==========







                      AMERICAN COMMERCIAL LINES INC.
            Statement of Operating Income by Reportable Segment
                          (Dollars in thousands)
                                (Unaudited)

                 Reportable Segments
                ----------------------
                Transport-  Manufactu-  All Other  Intersegment
                  ation        ring      Segments   Elimination    Total
                ----------  ----------  ----------  ----------  ----------
Year ended
 December 31,
 2009
Total revenue   $  621,611  $  239,885  $    9,715  $  (25,184) $  846,027
Intersegment
 revenues              751      24,339          94     (25,184)          -
                ----------  ----------  ----------  ----------  ----------
Revenue  from
 external
 customers         620,860     215,546       9,621           -     846,027
Operating
 expense
  Materials,
   supplies and
   other           225,647           -           -           -     225,647
  Rent              21,715           -           -           -      21,715
  Labor and
   fringe
   benefits        115,998           -           -           -     115,998
  Fuel             122,752           -           -           -     122,752
  Depreciation
   and
   amortization     48,615           -           -           -      48,615
  Taxes, other
   than income
   taxes            14,072           -           -           -      14,072
  Gain on
   disposition
   of equipment    (20,282)          -           -           -     (20,282)
  Cost of goods
   sold                  -     189,565       3,707           -     193,272
                ----------  ----------  ----------  ----------  ----------
    Total cost
     of sales      528,517     189,565       3,707           -     721,789
  Selling,
   general &
   administrative   60,740       4,579       4,763           -      70,082
                ----------  ----------  ----------  ----------  ----------
    Total
     operating
     expenses      589,257     194,144       8,470           -     791,871
                ----------  ----------  ----------  ----------  ----------
Operating
 income         $   31,603  $   21,402  $    1,151  $        -  $   54,156
                ==========  ==========  ==========  ==========  ==========

Year ended
 December 31,
 2008

Total revenue   $  897,272  $  284,274  $    8,617  $  (30,243) $1,159,920
Intersegment
 revenues                -      29,480         763     (30,243)          -
                ----------  ----------  ----------  ----------  ----------
Revenue  from
 external
 customers         897,272     254,794       7,854           -   1,159,920
Operating
 expense
  Materials,
   supplies and
   other           304,858           -           -           -     304,858
  Rent              23,345           -           -           -      23,345
  Labor and
   fringe
   benefits        118,737           -           -           -     118,737
  Fuel             227,489           -           -           -     227,489
  Depreciation
   and
   amortization     47,255           -           -           -      47,255
  Taxes, other
   than income
   taxes            14,855           -           -           -      14,855
  Gain on
   disposition
   of equipment       (954)          -           -           -        (954)
  Cost of goods
   sold                  -     242,309       2,080           -     244,389
                ----------  ----------  ----------  ----------  ----------
    Total cost
     of sales      735,585     242,309       2,080           -     979,974
  Selling,
   general &
   administrative   69,493       2,798       5,245           -      77,536
  Goodwill
   Impairment            -           -         855           -         855
                ----------  ----------  ----------  ----------  ----------
    Total
     operating
     expenses      805,078     245,107       8,180           -   1,058,365
                ----------  ----------  ----------  ----------  ----------
Operating
 income (loss)  $   92,194  $    9,687  $     (326) $        -  $  101,555
                ==========  ==========  ==========  ==========  ==========







                      AMERICAN COMMERCIAL LINES INC.
                 SELECTED FINANCIAL AND NONFINANCIAL DATA
                (Dollars in thousands except where noted)
                                (Unaudited)


                            Quarter Ended Dec. 31,    Year Ended Dec. 31,
                            ----------------------- -----------------------
                               2009        2008        2009        2008
                            ----------- ----------  ----------- -----------

Consolidated EBITDA         $    37,862 $   56,291  $    93,575 $   156,567


Transportation Revenue and
 EBITDA
Revenue                     $   177,467 $  231,281  $   620,860 $   897,272
EBITDA                           40,558     57,621       81,231     141,406


Manufacturing Revenue and
 EBITDA (External and
 Internal)
Revenue                     $    55,726 $   65,191  $   239,885 $   284,274
EBITDA                            3,492      3,664       25,106      19,435


Manufacturing External
 Revenue and EBITDA
Revenue                     $    45,198 $   37,904  $   215,546 $   254,794
EBITDA                            3,492     (2,635)      25,106      12,596




Average Domestic Barges
 Operated
  Dry                             2,156      2,278        2,202       2,347
  Liquid                            362        386          376         390
                            ----------- ----------  ----------- -----------
  Total                           2,518      2,664        2,578       2,737
                            =========== ==========  =========== ===========

Fuel Price (Average Dollars
 per gallon)                $      1.95 $     2.86  $      1.95 $      3.17

Capital Expenditures
 (including software)       $    15,847 $   43,115  $    36,007 $   100,067


Management considers EBITDA to be a meaningful indicator of operating
performance and uses it as a measure to assess the operating performance of
the Company's business segments. EBITDA provides us with an understanding
of the Company's revenues before the impact of investing and financing
transactions and income taxes. EBITDA should not be construed as a
substitute for net income or as a better measure of liquidity than cash
flow from operating activities, which is determined in accordance with
generally accepted accounting principles ("GAAP"). EBITDA excludes
components that are significant in understanding and assessing our results
of operations and cash flows. In addition, EBITDA is not a term defined by
GAAP and as a result our measure of EBITDA might not be comparable to
similarly titled measures used by other companies.

However, the Company believes that EBITDA is relevant and useful
information, which is often reported and widely used by analysts, investors
and other interested parties in our industry. Accordingly, the Company is
disclosing this information to permit a more comprehensive analysis of its
operating performance.

Contact Information: Contact: David T. Parker Vice President, Investor Relations and Corporate Communications (800) 842-5491