Minus the tax benefit, the results fell short of Wall Street estimates. Analysts surveyed by Thomson Financial expected 46 cents per share on $155.3 million in revenue. Minus the $6.5 million benefit from the retroactive extension of a U.S. short-line tax credit, and other items, freight revenue increased 16% to $95.2 million, the company said. Freight revenue from existing railroads fell by $6.7 million.
For the full year, GWI said its earnings rose to $72.2 million, or $1.99 per share, from $55.2 million, or $1.41 per share, in 2007.