Roanoke Times
                 Copyright (c) 1995, Landmark Communications, Inc.

DATE: THURSDAY, April 26, 1990                   TAG: 9004260104
SECTION: BUSINESS                    PAGE: C5   EDITION: METRO 
SOURCE: 
DATELINE:                                 LENGTH: Short

NS INCOME SETS RECORD FOR QUARTER

It was the second year in a row that NS, the Roanoke Valley's biggest employer, reported record earnings for the first quarter.

Net income increased 4.8 percent from the $133.8 million during the first quarter of 1989 and earnings per share were up 12 percent from 75 cents per share last year.

Total revenues from the company's transportation business during the quarter was $1.14 billion, up 2.4 percent from $1.11 billion last year. Total rail operating revenues were $954.1 million, up 3.4 percent from the same period last year.

Revenues from coal, coke and iron ore traffic - the railroad's top money-making commodity - were up 11.1 percent during the first quarter, offsetting a 1.3 percent decline in merchandise revenues and a 2.4 percent decline in revenues from North American Van Lines.

NS said revenues also increased in agriculture, 7 percent; chemicals, 5.4 percent; intermodal (combination of rail and other transportation modes), 3.9 percent; and paper, 2.6 percent.

Transportation expenses in the quarter were $934.7 million, a 2 percent increase over last year's $916.3 million. Railway expenses were up 2.4 percent to $744.3 million. - Staff report