Santa Fe Pacific Corp.: The railroad and...
From Times Staff and Wire Reports
Santa Fe Pacific Corp.: The railroad and minerals company reported a fourth-quarter loss from continuing operations of $31.2 million, compared to a $244.7-million loss in the same period in 1989. Revenue declined 4% to $572.1 million. For the full year, losses totaled $101.2 million, compared to a loss of $275.2 million in 1989. The 1989 results included a $389.6-million pretax restructuring charge at Santa Fe Railway. The results were restated to reflect real estate and energy activities as discontinued operations. Fourth-quarter operating income at the Chicago-based company’s main division, Santa Fe Railway, dropped 67% to $22.4 million due principally to a 1% decline in average revenue per carload.
