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News Summary: CSX 4Q profit declines 5 percent

News Summary: CSX 4Q profit declines 5 percent as weak coal demand continues to hurt results

The Associated Press

DISAPPOINTING DELIVERY: CSX railroad said its fourth-quarter profit declined 5 percent to $426 million, or 42 cents per share.

CONTINUED COAL CONCERN: CSX says coal revenue slid another 9 percent to $679 million in the fourth quarter. Demand for coal has remained weak for the past couple years largely because of cheap natural gas prices.

PROMISING GROWTH: Even with the declining coal shipments, CSX said its overall volume increased 6 percent. Shipments of agricultural products, chemicals and intermodal shipping containers all grew strongly.