Summary
Norfolk Southern Corporation (NSC) filed an 8-K on January 24, 2007, to report its fourth quarter and full-year 2006 financial results. The primary focus of this filing is the disclosure of these results, which are presented in a press release attached as an exhibit. Investors should note that the company is presenting a non-GAAP financial measure, excluding the impact of Ohio tax legislation from 2005 net income and diluted earnings per share, to facilitate year-over-year comparisons. Management believes this adjusted measure provides a clearer view of operating performance and intends to use it for future financial discussions and comparisons.
Key Highlights
- 1Norfolk Southern Corporation announced its fourth quarter and full year 2006 financial results via an 8-K filing on January 24, 2007.
- 2The filing includes a press release (Exhibit 99) detailing the company's financial performance.
- 3NSC is providing a non-GAAP financial measure that excludes the impact of Ohio tax legislation from 2005 results.
- 4This non-GAAP measure is used for comparing 2006 net income and diluted earnings per share against 2005 on an adjusted basis.
- 5Management believes the non-GAAP measure is more indicative of ongoing operating results and facilitates comparisons with prior periods and other companies.
- 6The company intends to use this non-GAAP financial measure in its analysts' meeting scheduled for January 24, 2007, and for future comparisons.
- 7The 8-K also serves as a Regulation FD disclosure for the earnings announcement.