(The Associated Press circulated the following on March 28, 2010.)
WORCESTER, Mass. — Providence and Worcester Railroad Co. said on Friday that it lost $957,000 for 2009, after earning $166,000 in 2008.
The loss worked out to 20 cents per share, compared with a profit of 3 cents per share in 2008.
Revenue was $23.3 million, down 22 percent from $29.7 million in 2008. Freight revenue fell because of lower traffic volume across all the commodities it hauls. The biggest drops were in shipments of ethanol and coal. Container traffic volume dropped by half.
The company’s shares last traded at $12.29.