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Norfolk Southern, TE Connectivity report earnings

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Two companies with significant midstate operations reported quarterly earnings today.

Virginia-based Norfolk Southern Corp., which has railroad facilities in Cumberland and Dauphin counties, reported net income of $513 million, or $1.64 per diluted share, compared with net income of $413 million, or $1.30 per diluted share, in the fourth quarter of 2012.

Analysts had expected earnings of $1.50 per diluted share, according to Yahoo Finance.

For the year, Norfolk Southern reported income of $1.9 billion, or $6.04 per diluted share. That is 9 percent higher than 2012, where net income was $1.7 billion, or $5.37 per diluted share.

General merchandise revenue rose 7 percent for the year, while coal revenue dropped 12 percent to $2.5 billion, the company said. Also, intermodal revenue increased to $2.4 billion, a bump of 6 percent compared with 2012.

Norfolk Southern trades it shares on the New York Stock Exchange under the ticker symbol NSC.

Switzerland-based TE Connectivity Ltd. reported fiscal first-quarter net income of $353 million, or 84 cents per diluted share, compared with $277 million, or 65 cents per diluted share, in the same quarter a year ago.

Analysts had expected earnings of 77 cents per diluted share, according to Yahoo Finance.

TE’s fiscal first quarter ended on Dec. 27.

The electronic components maker, which has engineering and administrative offices in Central Pennsylvania, trades its shares on the New York Stock Exchange under the ticker symbol TEL.

Jason Scott

Jason Scott

Jason Scott covers state government, real estate and construction, media and marketing, and Dauphin County. Have a tip or question for him? Email him at jasons@cpbj.com. Follow him on Twitter, @JScottJournal. Circle Jason Scott on .

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