|
|
Article: Illinois Central Transportation announces first-quarter results.
- Article from:
- PR Newswire
- Article date:
- May 11, 1989
CopyrightCOPYRIGHT 1989 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)
|
ILLINOIS CENTRAL TRANSPORTATION ANNOUNCES FIRST QUARTER RESULTS
CHICAGO, May 11 /PRNewswire/ -- Illinois Central Transportation Co. (NYSE: IC) today announced a net loss of $51.3 million or $2.39 per share for the quarter ended March 31 on operating revenues of $148.5 million. The results include a special charge of $76.2 million for merger and restructuring expenses for the quarter.
In the first quarter of the prior year, Illinois Central reported net income of $38.6 million on operating revenues of $145.4 million. The 1988 results included a charge for restructuring of $35 million and income from the cumulative effect of a change in accounting ...