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October 28, 2008 4:45 PM, EDT

Canadian Pacific’s 3Q Income Slips

Canadian Pacific Railway’s third-quarter net income fell to C$173 million, or C$1.11 a share, from C$219 million, or C$1.41, a year ago.

The decrease was due primarily to foreign exchange impacts on long-term debt in 2007, CP said in a statement. Revenue rose 7% to C$1.26 billion.

CP confirmed its outlook for adjusted diluted earnings per share in the range of $4 to $4.20 for the full year.