Norfolk Southern’s net income up 38% in record 3rd quarter

Norfolk SouthernÆs net income up 38% in record 3rd quarter    Norfolk Southern Corp., parent of Norfolk Southern Railway Co., Wednesday reported best-ever third quarter results after revenue gains in all but one of its markets.
   “All markets, with the exception of automotive, posted significant revenue gains, and several set new revenue highs,” Norfolk Southern said in a statement.
   Third quarter net income jumped 38 percent to $416 million, from $301 million in the year prior quarter.
   Income from railway operations was $715 million, a 35 percent increase compared to $528 million in the year-earlier period. Total railway operating revenue improved 11 percent to $2.39 billion, from $2.16 billion.
   After nine months, Norfolk Southern's net income was a best-ever $1.1 billion, a 19 percent increase compared to $919 million during the same period a year earlier. Income from railway operations improved 28 percent to $1.94 billion, from $1.52 billion after three quarters in 2005. Total railway operating revenue increased 13 percent to $7.08 billion from $6.27 billion.
   The railway and its subsidiaries operate about 21,200 route miles in 22 U.S. states, the District of Columbia and Ontario, Canada.