NORFOLK, Va. — Norfolk Southern Corp. has posted its 2008 Annual Report online, highlighting a record-setting year in video stories featuring company employees.
The report, titled Voices, outlines the company’s 2008 success in receiving the top industry award for workplace safety for the 19th consecutive year and setting records for railway operating revenues, income from railway operations, net income, diluted earnings per share, and operating ratio.
In his letter to stockholders, CEO Wick Moorman said 2008 was a successful year for Norfolk Southern in spite of “extraordinary turbulence in our nation’s and the world’s economy.”
Moorman said that while the company “will be challenged” by the economic turbulence in 2009, “This downturn will be over some day, and we will be ready to take full advantage of the business prospects that will be there when it ends.”
Meanwhile, he said Norfolk Southern will stay focused on key business drivers, including cost controls, continued investment in the property, and pursuit of new business development initiatives. “Our strategy to create new business corridors has helped drive our growth in recent years, and we’re now working hard to develop our biggest project to date, the Crescent Corridor. It’s an exciting concept to work with government and our trucking partners in a public-private partnership to take a million or more trucks off the highways. We’re seeing a very positive response by public officials, and I’m optimistic that we’ll see considerable progress on the project in 2009,” Moorman said.
Voices is available on the company’s Web site at www.nscorp.com.