Financials
JAXPORT earned a record $50.6 million in fiscal year 2010 in operating revenues, a 7 percent increase over FY2009 and the Port's tenth consecutive year of operating revenue growth. JAXPORT reduced operating expenses from $33 million in FY2009 to just under $32 million in FY2010. At the same time, operating income rose to $18.6 million in FY2010 from $14.3 million in FY2009 due to increased activity at the port. JAXPORT’s revenue growth is fueled by the variety of cargoes handled, the ever-growing number of trade lanes served and the healthy balance between imports and exports.
In 2010, Moody’s Investors Service assigned JAXPORT a financial rating of "A2" while Fitch Ratings assigned JAXPORT a rating of "A." Both agencies noted that despite challenging economic conditions, JAXPORT maintained its competitive position as a container port, its status as the nation’s second largest vehicle processing center, and its diverse revenue streams supported by long-term contracts with private tenants.
Read more in JAXPORT's FY10 Annual Report, or call us at (904) 357-3080 to request a high resolution copy bound and printed on recycled paper.
