CN, Off the Tracks Again, but Revenues Are On Line

Tuesday, October 25, 2005 04:00 AM

E. Hunter Harrison, President and CEO of CN Rail, is expected to face questions surrounding the 10th rail derailment in the past three months on CN lines when he comes to the city today.

The latest derailment took place Monday morning when 10 empty lumber cars rolled off the track in the same area of the Cheakamus River were 40,000 liters of sodium hydroxide were dumped into the river in August, resulting in a major fish kill.

Meantime, revenues for the latest nine month period increased 11% to $5 billion, 354 million due mainly to freight rate increases and the performance of the newly acquired lines of Great Lakes Transportation and BC Rail.

Net income for the nine month period ended September 30th was $1 billion, 126 million, compared with a net income of $882 million in 2004.

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