In his message to stockholders in the 2009 Annual Report, posted online today, Norfolk Southern Corporation CEO Wick Moorman (NYSE: NSC) says the company “withstood the economic shocks of 2009 to produce good economic results, and I go into 2010 with a sense of optimism for our future prospects.”
Compared to a year ago, Moorman said, “we have a much clearer picture of our own economic outlook and can act accordingly.” He cited the company’s strides in safety and service, along with disciplined cost control, continued investment in key projects, and aggressive pursuit of new business opportunities, as important indicators.
“Even in the face of the recession,” Moorman said, “we made significant gains in each of these areas, and these same strategies will drive our continuing success in 2010 and beyond. While the short-term economic outlook remains somewhat uncertain, the longer-term prospects for Norfolk Southern and the railroad industry remain very bright.
"We go into the new year with positive momentum. Our traffic levels increased sequentially in both the third and fourth quarters of 2009, and we’re confident many of the cost efficiencies we achieved in 2009 will remain in place as we see rail traffic continue to increase," Moorman said.
The annual report is available on the company’s Web site at www.nscorp.com. Some 200,000 copies are distributed to stockholders, the financial community, news media, and libraries. Norfolk Southern’s annual report is certified by the Forest Stewardship Council, which promotes environmentally responsible printing standards. To request a copy, call 800-531-6757, e-mail email@example.com, or write to Norfolk Southern Corp., Corporate Communications Department, Three Commercial Place, Norfolk, Va. 23510-9217.
Norfolk Southern Corporation is one of the nation’s premier transportation companies. Its Norfolk Southern Railway subsidiary operates approximately 21,000 route miles in 22 states and the District of Columbia, serves every major container port in the eastern United States, and provides efficient connections to other rail carriers. Norfolk Southern operates the most extensive intermodal network in the East and is a major transporter of coal and industrial products.