CSX Corp. reported a profit of $65...

CSX Corp. reported a profit of $65 million for the first quarter, compared to $85 million for the 1987 quarter. However the Richmond, Va., company noted that the year-ago results have been restated to reflect a change in the liability method of accounting for income taxes. Including the cumulative effect of the accounting change, the firm reported a loss of $294 million for the first quarter of last year. Operating revenue totaled $2.1 billion for the first quarter of 1988, up 11% from the same period last year. The company said the results reflect stronger transportation results.