WISCONSIN CENTRAL SEES DIP IN FIRST-QUARTER EARNINGS
Wisconsin Central Transportation Corp. said its first quarter net income was $12.6 million, down from $13.7 million for the year-earlier period, due to increases in fuel expenses.
The company's North America operating income for the first quarter, ended March 31, was a record $91.9 million, up 4 percent from a year earlier. Operating expenses were up 5 percent, to $73.8 million, due to labor-related expenses and a 36-percent increase in fuel expense.
The company's international operations in Great Britain and New Zealand, reported net income of $4.5 million, compared to $5.2 million for the first quarter of 1999.