April 29, 2010 / 11:21 AM / 8 years ago

UPDATE 1-Genesee & Wyoming Q1 profit beats Street

* Q1 EPS $0.39 vs est. $0.34

* Revenue $145.6 mln vs est. $141.9 mln

April 29 (Reuters) - Genesee & Wyoming Inc (GWR.N), which owns and operates short-line and regional railroads, posted a quarterly profit that beat market expectations, helped an increase in non-freight revenue.

For the first quarter, the company reported net income of $16 million, or 39 cents a share, compared with $13.9 million, or 38 cents a share, a year earlier.

Revenue rose 5 percent to $145.6 million.

During the first quarter of 2010, the non-freight revenue increased by almost 14 percent to $56 million.

Analysts on an average were expecting earnings of 34 cents a share on revenue of $141.9 million, according to Thomson Reuters I/B/E/S.

Shares of the company closed at $37.70 Wednesday on the New York Stock Exchange. (Reporting by Megha Mandavia in Bangalore; Editing by Saumyadeb Chakrabarty)

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