CN’s Profit Falls in 4Q, Grows in Year

Canadian National Railway Co. said its fourth-quarter net income fell 13.6% to C$503 million, or C$1.08 per share, from C$582 million or C$1.23 per share, a year earlier.

Comparing the results to the previous year’s adjusted net income, profit increased 19%, CN said.

Revenue increased 12% to C$2.12 billion, the Montreal-based railroad said Tuesday.

For 2010, income grew 13.5% to C$2.1 billion, or C$4.48 per share, compared with C$1.9 billion, or C$3.92, in 2009.

Revenue grew in all commodity groups in the quarter, led by a 22% increase in coal shipment revenue. Intermodal revenue gained 17%.

Revenue ton-miles increased 11% in the quarter and freight revenue per revenue ton-mile gained 1%.