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January 29, 2013 8:15 AM, EST

Canadian Pacific’s 4Q Net Income Drops

Canadian freight railroad Canadian Pacific’s fourth-quarter net income fell to C$15 million, or 8 Canadian cents per share, from C$221 million, or C$1.31, a year earlier, on restructuring charges.

Revenue rose to C$1.5 billion for the quarter ended Dec. 31, from $1.41 billion, the rail line said in a statement.

Intermodal revenue rose to C$340 million from C$332 million, CP said.

The railroad said it expects revenue growth in 2013 to be in the “high single digits.”