UPDATE 1-RailAmerica 2nd-qtr net off 16 pct on revamp costs

Newswire

(Adds details, company comment) CHICAGO, July 27 (Reuters) - U.S. short-line railroad operator RailAmerica Inc. said on Thursday that second-quarter profit fell more than 16 percent, citing costs from its reorganization plan, including severance payments. The Boca Raton, Florida, company reported net income dropped to $7.8 million, or 20 cents a share, from $9.3 million, or 24 cents a share, a year earlier. Sales rose 13 percent to $116.8 million from $103.4 million. RailAmerica ...

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