RailAmerica posts Q2 loss

By: | at 08:00 PM | Intermodal  

Short-line railroad operator RailAmerica Inc reported a quarterly loss, hurt by higher expenses.

The company posted a net loss of $4.2 million, or 8 cents a share, compared with net income of $18.2 million, or 42 cents a share, a year ago.

Revenue rose 18 percent to $117.3 million.

Including charges of $8.5 million for the early retirement of debt and interest rate swap termination costs, the company posted a loss from continuing operations of $4.6 million.

Analysts on average expected the company to earn 6 cents per share, on revenue of $116.6 million, according to Thomson Reuters I/B/E/S.

Labor costs increased $5.6 million while fuel expense was up $3.3 million, with $2.6 million of the increase due to higher prices. (Reuters)


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