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CSX Reports Improved Fourth-Quarter Income, Revenue
Eastern freight railroad CSX Corp. reported fourth-quarter earnings of $347 million or 75 cents a share, up from $237 million or 52 cents a year earlier.
The earnings included 18 cents per share recovered from insurance related to Hurricane Katrina in 2005, CSX said. Excludingthose gains, earnings were 57 cents per share.Revenue for the quarter rose 8% to a record $2.4 billion.The rail line expects “double-digit growth in operating income” this year, Chief Executive Officer Michael Ward said in a statement late Monday.For the full year 2006, comparable earnings per share from continuing operations were $2.22 per share, up from $1.70 in 2005, CSX said.