CN Reports Higher 4Q Profit

Canadian National Railway Co. said its fourth-quarter net income rose to C$582 million, or $1.23 per share, from C$573 million or C$1.21 per share a year earlier.

Revenue fell 14.5% to C$1.88 billion, the railroad said in a statement late Tuesday.

CN said that it saw traffic levels increase from the third quarter of 2009, and an “easing” in year-over-year volume comparisons.

For the full 2009 year, income fell to C$1.85 billion, or C$3.92 per share, compared with C$1.9 billion, or C$3.95, in 2008.

Revenue fell 13% in the year to C$7.4 billion.