Roadway Corp. said revenues for the 12 weeks constituting the company's first quarter, were $754,070,000, up 26% when compared to revenues of $598,967,000 for the same period last year.
For the first quarter of 2003, the company reported income from continuing operations of $7,863,000, or $0.41 per share, compared to a loss from continuing operations of $1,873,000, or $0.10 per share, for the first quarter of 2002. For the first quarter of 2003, the company reported net income of $8,010,000, or $0.42 per share compared to net loss of $1,749,000, or $0.09 per share for the first quarter of 2002.
James D. Staley, president and CEO of Roadway Corp., said, "We are pleased to report completion of a strong first quarter despite several challenges with the potential to impede our performance. As 2003 began, we faced competitor attempts to take business away during our labor contract negotiations, international unrest, a poor general economy, volatile fuel costs and inclement weather.
"Our outlook for the second quarter and full-year 2003 anticipates strong top-line growth will continue. The rate of revenue growth in the second quarter is expected to be between 16% and 19%. Our operating margins should continue to improve and are expected to be between 3.7% and 4.2% for the quarter. The second quarter's earnings-per-share should be in the range of $0.65 to 0.79. For the year, revenue growth is forecast to be between 10.5% and 13.0%, with operating margins in the range of 3.9% to 4.3% and earnings-per-share of between $3.10 and $3.60," Staley said.
For the first quarter of 2003, the company reported income from continuing operations of $7,863,000, or $0.41 per share, compared to a loss from continuing operations of $1,873,000, or $0.10 per share, for the first quarter of 2002. For the first quarter of 2003, the company reported net income of $8,010,000, or $0.42 per share compared to net loss of $1,749,000, or $0.09 per share for the first quarter of 2002.
James D. Staley, president and CEO of Roadway Corp., said, "We are pleased to report completion of a strong first quarter despite several challenges with the potential to impede our performance. As 2003 began, we faced competitor attempts to take business away during our labor contract negotiations, international unrest, a poor general economy, volatile fuel costs and inclement weather.
"Our outlook for the second quarter and full-year 2003 anticipates strong top-line growth will continue. The rate of revenue growth in the second quarter is expected to be between 16% and 19%. Our operating margins should continue to improve and are expected to be between 3.7% and 4.2% for the quarter. The second quarter's earnings-per-share should be in the range of $0.65 to 0.79. For the year, revenue growth is forecast to be between 10.5% and 13.0%, with operating margins in the range of 3.9% to 4.3% and earnings-per-share of between $3.10 and $3.60," Staley said.
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