Norfolk Southern profit off 42%

Norfolk Southern profit off 42%

   Norfolk Southern Corp. reported third quarter net profit of $303 million, about 42 percent lower than the $520 million earned in the third quarter of 2008.

   Railway operating revenue fell 29 percent to $2.06 billion in the quarter ending Sept. 30. The company said this was primarily the result of a 20 percent reduction in traffic volume and lower fuel-related revenues.

   General merchandise revenue was $1.1 billion, 24 percent lower compared with the same period last year. Coal revenues declined 35 percent to $571 million. Intermodal revenue decreased 31 percent to $389 million.