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Article: Illinois Central Corporation Reports First Quarter Earnings
- Article from:
- PR Newswire
- Article date:
- April 15, 1997
CopyrightCOPYRIGHT 1997 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, April 15 /PRNewswire/ -- Illinois Central Corporation (NYSE: IC) today reported net income for the first quarter ended March 31, 1997, of $33.9 million ($.55 per share) compared to first quarter 1996 net income of $33.1 million ($.54 per share).
First quarter 1997 revenues were $172.1 million compared to $162.6 million for 1996. Total freight carloads of 257,880 were up 12 percent, primarily reflecting inclusion of CCP Holdings, Inc., which was acquired June 13, 1996. The 12-percent traffic increase produced a six-percent increase in revenues as the weak demand for high-revenue export grain caused a negative revenue mix.
First quarter ...