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Rail News: Financials
A decrease in container traffic meant less revenue for Providence and Worcester Railroad Co. (PWRR) in the third quarter.
Yesterday, the 545-mile regional reported quarterly operating revenue of $7.3 million, a 6.3 percent decline compared with third-quarter 2006's total. A larger portion of container traffic from Asia now is being transported to the U.S. East Coast by ship, meaning fewer containers are moving by rail from the West Coast to East Coast, PWRR said.
The regional also reported a large drop in net income year over year, from $909,000 to $181,000.
PWRR operates lines in Rhode Island, New York, Connecticut and Massachusetts, and operates two intermodal yards in Worcester, Mass.
11/15/2007
Rail News: Financials
Providence and Worcester's revenue and income reflect weak container traffic
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A decrease in container traffic meant less revenue for Providence and Worcester Railroad Co. (PWRR) in the third quarter.
Yesterday, the 545-mile regional reported quarterly operating revenue of $7.3 million, a 6.3 percent decline compared with third-quarter 2006's total. A larger portion of container traffic from Asia now is being transported to the U.S. East Coast by ship, meaning fewer containers are moving by rail from the West Coast to East Coast, PWRR said.
The regional also reported a large drop in net income year over year, from $909,000 to $181,000.
PWRR operates lines in Rhode Island, New York, Connecticut and Massachusetts, and operates two intermodal yards in Worcester, Mass.
