JOC Staff | Nov 05, 2012 3:49PM EST
Short line and regional freight railroad company Genesee & Wyoming today reported a net loss of $19.6 million in the third quarter, compared with net income of $32.9 million in the third quarter of 2011.
The quarterly net loss was primarily because of expenses related to the company’s acquisition of RailAmerica. Adjusted net income in the third quarter of 2012 was $32.0 million, compared with adjusted net income of $30.8 million in the third quarter of 2011.
Profit in the first nine months of 2012 was $39.0 million, compared with $86.2 million during the same period last year.
Quarterly revenue was $222.7 million, up from last year’s third-quarter revenue of $217.2 million.