(RTTNews) - Transportation holding company Kansas City Southern (KSU: News ) Thursday reported a sharp decline in profit for the third quarter of fiscal 2009, hurt mainly by lower revenues across all business segments. However, earnings per share beat Street estimates by three cents.

For the quarter, the Kansas City, Missouri-based company's net income available to shareholders was $25.8 million or $0.27 per share compared with $48.9 million or $0.52 per share in the previous-year period. On an average, eight analysts polled by Thomson Reuters expected Kansas to earn $0.24 per share for the quarter. Analysts' estimates typically exclude special items.

Revenues for the period plummeted to $386.1 million from $491.5 million in the third quarter of fiscal 2008. Analysts expected the company to generate revenues of $392.90 million for the quarter.

On a segmental basis, revenues from chemical and petroleum segment were $88.6 million versus $92.3 million, revenues from industrial and consumer products plunged to $86.4 million from $138.5 million, and agriculture and minerals segment generated revenues of $93.8 million as compared with $115.8 million a year earlier.

Revenues from coal were $49.2 million versus $57.3 million, and intermodal segment revenues fell to $38.3 million from $43.3 million in the 2008-year period. Automotive segment generated revenues of $14.2 million compared to $25.1 million, and other revenues slipped to $15.6 million from $19.2 million last year.

During the three-month period, total operating expenses incurred by Kansas were $301.7 million versus $380.5 million in the 2008-year period. Interest expenses for the period rose to $41.2 million from $35.5 million in the prior year. The company's operating ratio for the quarter was 78.1% compared with 77.4% in the third quarter of 2008.
Commenting on the results, the company's chairman said, "The impact of a gradually improving business environment was further strengthened by consistently strong operations and across-the-board expense controls."

In the preceding second quarter, Kansas had reported a net income available to shareholders of $6.7 million or $0.07 per share, down from $50.5 million or $0.56 per share in the same quarter last year. Revenues for the second quarter had declined to $341.3 million from $486.2 million in the second quarter of fiscal 2008.

For the nine-month period, net earnings available to shareholders were $25.0 million or $0.27 per share as compared with $132.3 million or $1.46 per share in the same period last year. Year-to-date revenues slumped to $1.07 billion from $1.43 billion in the 2008-year period.

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