Norfolk Southern’s second quarter profits nearly double

Norfolk Southern’s second quarter profits nearly double

   Norfolk Southern Corp. said Wednesday that strong revenue improvement helped to almost double its second quarter net income to $424 million, up from $213 million for the year-earlier period.

   The latest quarter saw Norfolk Southern post record net income, its highest railway operating revenues, and its best ever income from railway operations, exceeding the $500 million mark for the first time in any quarter.

   Norfolk Southern’s income from railway operations was $592 million, a 39 percent increase compared to $425 million posted in the same quarter last year. Operating revenues increased 18 percent to $2.15 billion from to $1.81 billion.

   For the first six months, net income was a record $618 million, an increase of 67 percent compared with $371 million during the same period a year earlier. Income from railway operations was $995 million, up 29 percent over the $771 million recorded after the first six months in 2004. Railway operating revenues set a six-month record, increasing 17 percent to $4.1 billion from $3.5 billion.