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Article: Illinois Central Corporation Reports Third Quarter Earnings Up 8 Percent
- Article from:
- PR Newswire
- Article date:
- October 13, 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, Oct. 13 /PRNewswire/ -- Illinois Central Corporation (NYSE: IC) today reported net income for the third quarter ended September 30, 1997, of $34.6 million ($.56 per share) compared to third quarter 1996 income of $32.1 million ($.52 per share).
Third quarter 1997 carloads were essentially unchanged while revenues of $173.6 million were up 3 percent compared to 1996. Third quarter 1997 operating expenses of $111.6 million resulted in an operating ratio of 64.3 percent compared to 63.4 percent in third quarter 1996. Operating income for the 1997 third quarter of $62.0 million compared to $61.5 million in third quarter 1996. Other income included a ...