Business Services Industry
Florida East Coast Industries Sees Earnings Rise in First Quarter.
Knight Ridder/Tribune Business News, April, 2004
By Mark Basch, The Florida Times-Union, Jacksonville Knight Ridder/Tribune Business News
Apr. 30--Florida East Coast Industries Thursday reported higher first-quarter earnings, due mainly to a gain from the sale of a building by its commercial real estate unit. But the St. Augustine-based company also said its railroad's revenues grew better than expected, so it is increasing its revenue and earnings outlook for the rest of the year.
Florida East Coast said first-quarter earnings were $8.3 million, or 22 cents per diluted share, up from $6.9 million, or 19 cents a share, the previous year.
"Both the railway and Flagler [its commercial real estate subsidiary] delivered solid financial performance," said Chairman and Chief Executive...
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