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Rail News: Financials

Providence and Worcester's revenue and expenses rise


Yesterday, Providence and Worcester Railroad Co. (PWRR) reported first-quarter revenue of $6.6 million, a 17.1 percent increase compared with first-quarter 2005.

Carload and container traffic increases helped offset a decrease in average revenue per carload. In addition, contractual rate increases provided a boost to intermodal revenue.

The 545-mile regional also reported a quarterly net loss of $252,000 compared with $255,000 net loss in first-quarter 2005.

However, quarterly operating expenses of $7.2 million rose 15.4 percent primarily because of a $252,000 increase in fuel costs and $275,000 increase in health and welfare expenses.

PWRR moves traffic over lines in New York, Connecticut, Massachusetts and Rhode Island, and operates two intermodal yards in Worcester, Mass.