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Yesterday, Norfolk Southern Corp. reported record fourth-quarter results that included a 19 percent increase in net income, a 17 percent increase in railway operating revenue and a 30 percent increase in earnings per share.

“We achieved fourth-quarter highs in revenues, net income and earnings per share,” said NS Chairman, President and Chief Executive Officer Wick Moorman during an earnings teleconference and webcast. “These fourth-quarter results capped an already-outstanding 2011 performance, and led to across-the-board record results for the full year, which include all-time highs for revenues, income from operations, net income and earnings per share.”

Net income for the quarter was $480 million, or $1.42 per diluted share, compared with $402 million, or $1.09 per share, a year ago. Railway operating revenue reached a fourth-quarter record $2.8 billion.

For the year, net income soared 28 percent to a record $1.9 billion, compared with $1.5 billion in 2010. Earnings per diluted share jumped 36 percent to a record $5.45. Also setting a record: railway operating revenue, which climbed 17 percent to $11.2 billion compared with 2010.

The improvements resulted from higher revenue per unit of 11 percent for the quarter and 12 percent for the year, as well as a 6 percent increase in volumes for the quarter and 5 percent for the year, NS officials said.

General merchandise revenue increased 13 percent to $1.4 billion for the quarter and rose 12 percent to $5.6 billion for the year; traffic volume increased just 1 percent for the quarter and was flat for the year.

Coal revenue shot up 24 percent to $850 million for the quarter and surged 27 percent to $3.5 billion for the year, while traffic volumes rose 3 percent for the quarter and 4 percent for the year.

Intermodal revenue increased 18 percent to $544 million for the quarter and rose 19 percent to $2.1 billion for the year, while traffic volume rose 11 percent for the quarter and 10 percent for the year.

Driven primarily by rising fuel costs, railway operating expenses surged 14 percent to $2 billion for the fourth quarter and 16 percent to $8 billion for the year.

NS also reported that its fourth-quarter operating ratio improved 2 points to 71.4 and full-year operating ratio improved 1 point to 71.2.

“In 2012, we will remain committed to enhancing our service product, maintaining the safety and quality of our rail network, improving operational efficiency and supporting growth,” Moorman said.