Canadian Pacific Railway Limited (CP.TO) said its fourth-quarter net income increased to C$194.1 million from C$188.1 million last year. However, earnings per share for the quarter declined to C$1.15 from C$1.21 a year ago.
Excluding these items, adjusted earnings per share were C$0.94, down 12% from C$1.07 in fourth-quarter 2008.
Revenues for the fourth quarter of 2009 decreased 16% to C$1.12 billion from restated C$1.30 billion in the year earlier quarter. CP plans to spend in the range of $680 million - $730 million on capital programs in 2010.
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