28 April 2010

Canadian Pacific Announces
First-Quarter Results

Calgary Alberta - Canadian Pacific Railway Limited announced its first-quarter results today. Net income in the first-quarter was $100 million, an increase of 74 percent from $57 million in first-quarter 2009 and diluted earnings per share were $0.59, up from $0.36 in first-quarter 2009.
 
"We put in a solid performance this quarter and our results reflect both improvements in the economy and CP's proven ability to rapidly adjust to changes in our customers' demands," said Fred Green, President and CEO.
 
"Our ongoing commitment to service reliability, safety, and managing our productivity objectives will continue to drive shareholder value."
 
FIRST-QUARTER 2010 COMPARED WITH FIRST-QUARTER 2009:
 
·  Total revenues were $1.2 billion, up five percent from $1.1 billion
 
·  Operating expenses were $962 million, down two percent from $977 million
 
·  Operating income increased to $205 million from $132 million, or 55 percent
 
·  Operating ratio improved 570 basis points to 82.4 percent
 
·  Diluted earnings per share increased to $0.59 from $0.36, or 64 percent
 
·  Adjusted diluted earnings per share increased to $0.60 from $0.32, or 88 percent
 
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