ROANOKE TIMES
Copyright (c) 1997, Roanoke Times
DATE: Thursday, January 30, 1997 TAG: 9701300024
SECTION: BUSINESS PAGE: B-6 EDITION: METRO
SOURCE: JEFF STURGEON
Norfolk Southern Corp. ended 1996 in record territory - again.
The railroad said its trains hauled more vehicles, coal, chemicals and containers, cost controls defused higher fuel prices and sales grew a couple of percentage points.
The company's financial report touted a favorable drop in the percentage of revenues spent running the railroad - called the operating ratio - which stood at 70.5 percent in the fourth quarter, down from 71.6 percent for the 1995 quarter.
Earnings rose for the 16th consecutive quarter. That benchmark stood at $1.60 per share, up 17 percent from the 1995 quarter, NS said.
NS hauled 31,651 tons of coal, coke and iron ore, up 2 percent in the quarter, and 130,216 tons in 1996, up 4 percent.
The report ranks NS in the middle of three railroads embroiled in a merger dispute. Richmond-based CSX Corp., the largest with 1996 sales of $10.54 billion, is trying to buy Philadelphia-based Conrail, the smallest with sales of $3.71 billion. NS had 1996 sales of $4.77 billion.
The Norfolk-based company has its largest concentration of employees in Roanoke: 3,106 in 1996, about 60 more than in 1995, said spokesman Bob Auman. The average annual wage was $44,500.
LENGTH: Short : 34 lines ILLUSTRATION: GRAPHIC: Chart by staff: Norfolk Southern Corp. color. KEYWORDS: MGRby CNB