KCS reports it earned $57.2 million

by Jim Repass
TRA Advisor
Founder of National Corridors Initiative

Kansas City Southern filed its annual report (Form 10-K) with the Securities and Exchange Commission (SEC), and released its final earning results for the year ended December 31, 2002.

On January 30, 2003, KCS released its financial earnings results for 2002, which included estimated equity earnings from Grupo TFM, its Mexican affiliate. The “10-K” filing “reflected an increase in net income to $57.2 million from $54.2 million reported earlier, and a corresponding increase in earnings per share of $.91 from $.87 for the year. The increase in earnings primarily resulted from additional U.S. generally accepted accounting principals deferred tax adjustments at Grupo TFM.

KCS is comprised of, among others, The Kansas City Southern Ry. Co., and equity investments in Grupo TFM, Southern Capital Corp., and Panama Canal Ry. Co.

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Used by Permission
Copyright 2003, NCI, Inc.
Reprint from Destination Freedom, Vol. 4, No. 14.