Norfolk Southern net dives 59% on Conrail woes

Article Abstract:

Norfolk Southern Corp. (NS) posted a decline of 59% in its net income for the second-quarter of 1999. Cargo backups resulting from NS's acquisition of Conrail Inc. on June 1, 1999 contributed to the decline in income. NS announced that it was unclogging the cargo backup and that operations would be functioning adequately by the end of August 1999, the start of the peak season. NS posted $77 million (72.5 million euros) in net income for the period.

Comment:

Posts decline of 59% in net income for second-quarter of 1999

Author: Machalaba, Daniel
Publisher: Dow Jones Publishing Co. (Europe)
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1999
Abstract

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Norfolk Southern slashes dividend in retrenchment

Article Abstract:

Norfolk Southern Corp. is reducing its dividend by 70% in order to improve its falling financial performance. The company is also planning to layoff workers and downsize facilities, freight cars, and rail track.

Author: Machalaba, Daniel
Publisher: Dow Jones Publishing Co. (Europe)
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 2001
Strategy & planning, Planning

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Norfolk Southern reports loss

Article Abstract:

Norfolk Southern Corp. posted a $48 million net loss for the 2000 first-quarter. The company posted $112 million in net income during the same period in 1999.

Author: Machalaba, Daniel
Publisher: Dow Jones Publishing Co. (Europe)
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 2000

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Subjects list: United States, Railroads, Rail freight, Finance, Norfolk Southern Corp., NSC
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