RailAmerica says could make an acquisition in next 4-5 months

* Eyes railroads & rail-related businesses in North America

* Not seeing a quick recovery in market

BANGALORE, Nov 12 (Reuters) - Short-line railroad operator RailAmerica Inc (RA.N) said it could make an acquisition over the next four-five months as it was encouraged by current lucrative opportunities in the market.

"We believe there are numerous railroads out there that are not run to their potential and this presents an attractive opportunity for us," Chief Executive John Giles said Thursday on a conference call with analysts.

He said the company's focus will be on acquiring railroads and rail-related businesses in North America.

The North American short line and regional railroad industry is highly fragmented, with about 550 short line and regional railroads operating nearly 45,800 miles of track.

Recently, Warren Buffett's Berkshire Hathaway (BRKa.N) made an offer to buy out No. 2 U.S. railroad Burlington Northern Santa Fe (BNI.N).

On Wednesday, RailAmerica reported its first quarterly results as a public company and said profit rose 21 percent, helped by lower expenses. [ID:nBNG490847]

Florida-based RailAmerica, which is owned by private equity funds managed by a unit of Fortress Investment Group LLC (FIG.N), went public this October raising about $150 million.

On the call, the company also noted that it was not seeing a quick recovery, though quarterly carloads did improve sequentially.

RailAmerica's shares were trading at $12.55 Thursday -- well below their IPO price of $15 -- on the New York Stock Exchange. (Reporting by A.Ananthalakshmi in Bangalore; Editing by Maju Samuel)