Allied Earnings Up
January 19, 2000
Allied Holdings expects earnings for the fourth quarter ending Dec. 31, 1999 to be 65 cents to 70 cents per share.
The company attributes the positive fourth quarter results to rate increases that were put in place during the second half of 1999, improved operating performance and strong vehicle delivery volumes. Solid cash flow during the quarter also allowed the company to repay about $20 million of long-term debt.