advertisement

---

Healthy coal, steel ingot, ethanol and automotive traffic helped drive up Providence and Worcester Railroad Co.'s (PWRR) revenue in the second quarter.

The 545-mile regional reported operating revenue of $8.1 million, a 16.1 increase compared with second-quarter 2007's total. Conventional freight revenue jumped 23.9 percent, helping to offset a 45.9 percent decline in container freight revenue. Container volume has continued to dwindle since mid-2007, the railroad said.

The regional also reported net income of $320,000 vs. $347,000 in second-quarter 2007. The railroad registered traffic decreases in construction aggregates, chemicals, building products and other commodities affected by the economic slow-down, PWRR officials said in a prepared statement.

Fuel costs increased by $618,000 (a 103.5 percent jump) — the primary reason operating expenses increased 13 percent year over year to $7.8 million.

During the first half, operating revenue rose 16 percent to $14.1 million and PWRR incurred a net loss of $602,000 vs. first-half 2007's net loss of $814,000.

Formed in 1973, PWRR operates lines in Massachusetts, Rhode Island, Connecticut and New York, and operates two intermodal yards in Worcester, Mass.