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Article: NORFOLK SOUTHERN STILL ON TRACK EARNINGS STRONG DESPITE DEBT.(BUSINESS)
- Article from:
- The Virginian-Pilot (Norfolk, VA)
- Article date:
- July 24, 1997
- Author:
CopyrightCOPYRIGHT 1997 The Virginian Pilot-Ledger Star. All rights reserved. Reproduced with the permission of the Dialog Corporation by Gale Group. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: CHRISTOPHER DINSMORE, STAFF WRITER
The acquisition of Conrail Inc. stopped Norfolk Southern's earnings growth in its tracks, but the Norfolk-based railroad's operation continues to set records.
After several years of steady earnings increases, Norfolk Southern on Wednesday reported the second quarter in a row of earnings declines due to the Conrail takeover.
Norfolk Southern's second-quarter profit slipped 4.7 percent to $190.1 million, compared to $199.5 million for the period last year. Earnings per share for the quarter ended June 30 fell to $1.52 from $1.57.
Not counting the effect of the Conrail purchase, Norfolk Southern ...