CSX’s 4th quarter profit up 5%

CSX’s 4th quarter profit up 5% Jacksonville, Fla.-based CSX Corp. on Tuesday reported fourth quarter 2007 net income of $365 million, up 5.2 percent from $347 million in the same period in 2006.
   CSX's quarterly consolidated operating income was $609 million, a 20.1 percent increase compared to the $507 million posted in the prior-year quarter. Operating revenue for the three months was up 7.5 percent to $2.58 billion, from $2.40 billion a year before.
   For the full year, CSX posted a net income of $1.34 billion, up 2 percent from $1.31 billion in 2006. Annual operating income improved 5.5 percent to $2.26 billion with revenue showing a 4.9 percent jump to $10.03 billion.
   “Once again, CSX delivered outstanding financial gains for our shareholders through strong improvements in safety, service and productivity,” said Michael Ward, CSX's chairman, president and chief executive officer. “These improvements reflect the value we are delivering for our customers, the continued momentum in our business and the strong fundamentals of our industry in an evolving transportation marketplace.”
   CSX’s transportation network spans about 21,000 miles with service to 23 eastern states and the District of Columbia, and connects to more than 70 ocean, river and lake ports.