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RailAmerica posts higher profit
July 25, 2012 / 11:29 AM / 5 years ago

RailAmerica posts higher profit

July 25 (Reuters) - RailAmerica Inc, which agreed to be bought by bigger rival Genesee & Wyoming Inc for $1.39 billion, posted a higher quarterly profit as it shipped more goods at a higher price.

The short-line railroad operator said second-quarter net income rose to $11.4 million, or 23 cents per share, from $8.7 million, or 17 cents per share, a year earlier.

RailAmerica said the second-quarter profit includes several charges and gains from acquisitions, early retirement of debt and tax credits.

Revenue rose 12 percent to $156.1 million.

Carloads and average revenue per railcar rose 4 percent. (Reporting by A. Ananthalakshmi in Bangalore; Editing by Supriya Kurane)

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