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News Summary: CSX railroad's 4Q profit down 3 pct

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The Associated Press | January 22, 2013 06:50 PM EST | AP


COAL CONCERNS: CSX railroad says coal revenue fell 18 percent in the fourth-quarter, but growth in intermodal and merchandise shipments nearly offset that. CSX says net income declined 3 percent to $443 million, or 43 cents per share.

BEATING THE STREET: The railroad's results beat what Wall Street expected. Analysts surveyed by FactSet had predicted earnings of 39 cents per share.

HOPEFUL HAULER: CSX Chairman, CEO and President Michael Ward said the results show the railroad can respond well to challenging conditions. He'll provide details on a conference call Wednesday morning.