CN’s 4th quarter net income up 16%

CNÆs 4th quarter net income up 16% Canadian National Railway Co. Wednesday reported fourth quarter net income of C$499 million ($422 million) up 16 percent from C$430 million posted in the same period 2005.
   Quarterly operating income was up 5 percent to C$756 million ($640 million) while revenue increased 3 percent to C$1.94 billion ($1.64 billion).
   After 12 months, CN reported net income of C$2.1 billion ($1.8 billion), up 34 percent compared to C$1.55 billion in 2005. CN's operating income improved 15 percent to C$3 billion ($2.6 billion). CN's annual revenue increased 7 percent to C$7.7 billion ($6.5 billion).
   'These accomplishments were achieved in the face of some severe weather conditions during the fourth quarter of the year that disrupted our main lines and the operations of key customers in western Canada,' said E. Hunter Harrison, CN's president and chief executive officer.
   'The strength of 2006 positions CN well for 2007. The year ahead is one of opportunity for the company, and we’ll have the people, network capacity, locomotives and freight cars in place to take advantage of new traffic.'