CSX Corp.’s 1988 net income rose 7%...
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CSX Corp.’s 1988 net income rose 7% from last year to $147 million. Revenue increased 9% to $7.6 billion. The Richmond, Va., holding company said the results were due in part to a gain on the sale of CSX Oil & Gas. The firm noted that it had a second-quarter special charge of $778 million relating to separation payments to rail workers and certain litigation claims that lowered earnings. In the fourth quarter, the company also repurchased 57.1 million shares of common stock.
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