UP: 2010 æsomewhat more favorableÆ
Union Pacific Railroad's parent company had fourth quarter net income of $551 million, 17 percent less than in the same 2008 period.
Revenue in the quarter was $3.75 billion, down 12 percent from the same 2008 period.
'Union Pacific's fourth quarter earnings reflected the continued impact of the recession that began in 2008,' said Jim Young, Union Pacific chairman and chief executive officer.
'Although still uncertain, the economic picture for 2010 looks somewhat more favorable than it did a year ago,' he added.
The company said fourth quarter freight revenue declines were:
' Automotive down 1 percent.
' Intermodal, 3 percent.
* Agricultural, 7 percent.
* Chemicals, 7 percent.
* Energy, 22 percent.
* Industrial products, 28 percent.