Union Pacific posts record quarterly results

Union Pacific posts record quarterly results    Union Pacific Corp., owners of Union Pacific Railroad, the largest North American railroad, today reported its best-ever quarterly revenue and income.
   The company had net income of $420 million in the third quarter, up 14 percent compared to $369 million a year ago.
   UP’s operating income was up 56 percent to $752 million, from $481 million in the same quarter 2005. Operating revenue improved 15 percent to $4 billion from $3.5 billion.
   “This quarter marks the sixth consecutive quarter of operating income growth,” said Jim Young, UP’s president and chief executive officer. “Unlike last year’s results, which were affected by hurricanes, this quarter we converted the demand for our services and greater operational efficiency into strong performance.”
   For the year to date, UP’s net income increased 54 percent to $1.1 billion from $730 million after nine months in 2005. Operating income improved 64 percent to $2.1 billion on a revenue gain of 17 percent to $11.6 billion.