04:11 PM EST - Canadian Pacific Railway Ltd. : announced first-quarter net income of $62.5 million, down from $90.7 million last year. Earnings per share declined to $0.39, from $0.59 in the prior year. Excluding items, net income was $54 million or $0.34 per share, compared to $116 million or $0.75 per share in the previous-year quarter. On a pro forma basis, total revenues for the quarter decreased 13 per cent to $1.07 billion from $1.23 billion a year ago. Revenues for the quarter were $1.1 billion compared to $1.15 billion in the year-ago period. On average, analysts polled by Thomson Reuters expected the company to earn $0.37 per share on revenue $942.92 million. Analysts' estimates typically exclude special items. Canadian Pacific Railway Ltd.
shares T.CP are trading up $0.26 at $42.26.
