January 30, 2007 8:30 AM, EST

Canadian Pacific Reports Higher Fourth-Quarter Income

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Canadian freight railroad Canadian Pacific’s fourth-quarter net income was C$145.6 million or 92 cents a share, up from $137.1 million or 86 cents a year earlier.Freight revenue rose to C$1.15 billion from C$1.12 billion for the quarter, CP said Tuesday.For the full year, the rail line earned C$796 million or C$5.02 a share, up from C$543 million or C$3.39 in 2005. Freight revenue rose to C$4.43 billion from C$4.23 billion.CP projected it would earn C$4.30 to C$4.45 this year, a 9% to 13% gain over 2006.