Short-line railroad operator RailAmerica Inc reported a quarterly loss, hurt by higher expenses.
The company posted a net loss of $4.2 million, or 8 cents a share, compared with net income of $18.2 million, or 42 cents a share, a year ago.
Revenue rose 18 percent to $117.3 million.
Including charges of $8.5 million for the early retirement of debt and interest rate swap termination costs, the company posted a loss from continuing operations of $4.6 million.
Analysts on average expected the company to earn 6 cents per share, on revenue of $116.6 million, according to Thomson Reuters I/B/E/S.
Labor costs increased $5.6 million while fuel expense was up $3.3 million, with $2.6 million of the increase due to higher prices. (Reuters)