Roadway Reports Record Revenues
January 27, 2000
Roadway Express, Akron, OH, reported record revenues of $2.81 billion for the year ended Dec. 31, 1999, up 6 percent from $2.65 billion in 1998.
Net income for the year increased 76 percent to $45.8 million and total tonnage were 3 percent above 1998 levels, with less-than-truckload tons increasing 3.2 percent and truckload tons increasing 2 percent.
The company's 1999 revenue per ton increased 2.9 percent versus the previous year.
Michael W. Wickham, Roadway chairman, said the company grew higher-yielding regional and specialized services and tightly managed the costs of handling greatly increased volumes. "During the year, our average length of haul decreased and our average shipment size increased, reflecting the success of our strategy to grow our regional service offerings and shift
the quality of our freight mix. We see opportunities to improve and intend to continue our efforts to enrich our freight mix, grow our higher-yielding regional and specialized services and control costs in 2000."