09:53 AM EST - Canadian National Railway Co. : reported an increase in profit for the first quarter mainly on better freight volumes and gain from a rail-line sale. The Montreal-based company's net income for the first quarter increased to $511 million or $1.08 per share from $424 million or $0.90 per share in the year-ago quarter. Results for the quarter also included an after-tax gain of $131 million or $0.28 per share, from a rail-line sale to a Toronto-area transit agency. Adjusted net income for the quarter was $380 million or $0.80 per share, compared with an adjusted net income of $302 million or $0.64 per share a year earlier. Revenues for the first quarter increased 6% to $1.96 billion from $1.85 billion last year. Canadian National Railway Co.
shares T.CNR are trading down $1.25 at $62.47.
