Genesee & Wyoming Inc., which owns and operates short-line and regional railroads, posted a quarterly profit that beat market expectations, helped an increase in non-freight revenue.

For the first quarter, the company reported net income of $16 million, or 39 cents a share, compared with $13.9 million, or 38 cents a share, a year earlier.

Revenue rose 5 percent to $145.6 million.

During the first quarter of 2010, the non-freight revenue increased by almost 14 percent to $56 million. (Reuters)