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Yesterday, Norfolk Southern Corp. celebrated its 175th anniversary. But it was the railroad’s 174th year that garnered more attention — and more kudos — as NS released its 2005 annual report. The railroad posted the report on its Web site.

In 2005, the Class I had its most successful year ever, setting records for net income, earnings per share, revenue and carloads.

“This was an exceptional year,” wrote former Chairman and Chief Executive Officer David Goode — who retired in January, ending a 13-year reign in the top post — in his last letter to stockholders as chairman.

Adds current Chairman, President and Chief Executive Officer Wick Moorman in a companion letter: “While our company always will be tied to the economy, it seems evident that the favorable economics of rail transportation will continue to gain traction in the marketplace [and] our company will be ready to capitalize on our advantages.”