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Article: Illinois Central Corporation Third Quarter Earnings Up 10 Percent
- Article from:
- PR Newswire
- Article date:
- October 14, 1996
CopyrightCOPYRIGHT 1996 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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CHICAGO, Oct. 14 /PRNewswire/ -- Illinois Central Corporation (NYSE: IC) today reported net income for the third quarter ended Sept. 30, 1996, of $32.1 million ($.52 per share) compared to third quarter 1995 net income of $29.2 million ($.47 per share).
Third quarter 1996 revenues were $167.9 million, up 4.1 percent compared to $161.3 million for 1995. Third quarter 1996 operating expenses of $106.4 million were down 1.7 percent resulting in an operating ratio of 63.4 percent, a 3.7 percentage-point improvement compared to third quarter 1995. Operating income for the 1996 third quarter of $61.5 million improved 15.8 percent compared to $53.1 million in ...