CSX’s First-Quarter Income Gains, Excluding Charges

April 19, 2006 1:00 PM, EDT

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astern freight rail line CSX Corp. Wednesday reported first-quarter net income of $245 million or $1.06 a share, down from last year’s $579 million or $2.56 a share, although excluding outstanding charges the earnings improved.

Not counting the $425 million or $1.88 per-share charges, income from continuing operations rose 56% year-over-year, CSX said.

Revenue reached a record $2.3 billion, from $2.1 billion last year.

Surface transportation operating income rose 39% to $487 million, also a record, the company said.