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Rail News: Financials
On Friday, Providence and Worcester Railroad Co. (PWRR) reported second-quarter operating revenue of $6.6 million, a 1.5 percent increase compared with second-quarter 2004.
However, net income of $207,000 dropped 6.7 percent and operating expenses of $6.4 million rose 2.3 percent compared with the same 2004 period. A $218,000 increase in fuel costs drove up quarterly expenses, PWRR officials said in a prepared statement.
During the year’s first half, operating revenue of $12.2 million increased 7 percent and operating expenses of $12.6 million rose 4 percent compared with the same 2004 period. The regional reported a $48,000 net loss compared a $240,000 net loss in first-half 2004.
Formed in 1973, the 545-mile PWRR operates lines in New York, Connecticut, Massachusetts and Rhode Island.
8/15/2005
Rail News: Financials
Providence and Worcester's second-quarter revenue rises, earnings fall
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On Friday, Providence and Worcester Railroad Co. (PWRR) reported second-quarter operating revenue of $6.6 million, a 1.5 percent increase compared with second-quarter 2004.
However, net income of $207,000 dropped 6.7 percent and operating expenses of $6.4 million rose 2.3 percent compared with the same 2004 period. A $218,000 increase in fuel costs drove up quarterly expenses, PWRR officials said in a prepared statement.
During the year’s first half, operating revenue of $12.2 million increased 7 percent and operating expenses of $12.6 million rose 4 percent compared with the same 2004 period. The regional reported a $48,000 net loss compared a $240,000 net loss in first-half 2004.
Formed in 1973, the 545-mile PWRR operates lines in New York, Connecticut, Massachusetts and Rhode Island.
