July 27, 2005 1:15 PM, EDT

Norfolk Southern Reports Record 2Q Earnings, Revenue

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astern freight railroad Norfolk Southern Corp. reported Wednesday that it earned a record $424 million or $1.04 a share in the second quarter, compared with $213 million or 54 cents a year earlier.

The results included two previously announced items — the effects of Ohio tax legislation and settlement of two coal-related cases — totaling $120 million or 29 cents a share. The railroad said that without those items, net income would have been $304 million or 75 cents a share.

Railway operating revenue rose to $2.15 billion, the highest in the company’s history and 19% over last year, the company said in a statement.

Intermodal revenue rose 18% to $428 million and was 21% higher than last year for the first six months of 2005.

The railroad said it was the sixth straight quarter in which intermodal showed double-digit growth. Container volume rose by 10%, or 51,000 units, in the quarter.