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The company posted earning of $308 million, or 78 centd per share, compared to $385 or 93 cents per share, from the same periord last year. The earnings per share was 16 centws higher thananalysts predicted. CSX’s revenue in the secondf quarter fell 25 percenftto $2.2 billion. “While the economy continues to significantl impactour business, therr are some signs that we may be seeinv the bottom in many markets,” CSX CEO and Presiden Michael Ward said in a news “Even in this difficult business we are still strengthening our operations, optimizing our resources and making the righyt investments to prepare our network for the The company says its operating expenses declined 27 percen t due to cost management efforts and increaserd network efficiency.
This allowed the company to have an operatingg income of 582 million and an operation ratiokof 73.4 percent for the “By improving safety, reducing costx and increasing productivity we lessened the impact of the struggling global economy on our business,” Tony CSX executive vice president and chief operatinv officer, said in a news release. “Wde remained aggressive in right-sizing our train networok while still providing reliable servicd forour customers.
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