Yellow Roadway Corp. reported losses in the fourth quarter due to its purchase of Roadway for $966 million and its assumption of Roadway’s debt.
Revenue for the fourth quarter of 2003, excluding Roadway’s revenue, was $762 million, up from $717 million in the fourth quarter of 2002. Including revenue from Roadway operations, consolidated revenue for the fourth quarter of 2003 was $903 million.
Yellow Roadway reported revenues of $2.93 billion for the year, excluding Roadway revenue, an 11.6% increase over 2002. Consolidated revenues were $3.07 billion.
The company said it expected the combined company to earn between $2.70 and $3.30 per share in 2004, based on expected revenues of $6.5 billion.
"Joining forces with Roadway is a significant milestone, providing enhanced market reach and growth opportunities," said Bill Zollars, chairman, president and CEO of Yellow Roadway Corp. "We experienced slightly improving economic conditions during the fourth quarter," said Zollars. "We grew revenue, excluding Roadway, by over 6% percent, even though we had challenging weather conditions and a difficult comparison to last year due to a business surge created by the closure of Consolidated Freightways in September 2002."
Revenue for the fourth quarter of 2003, excluding Roadway’s revenue, was $762 million, up from $717 million in the fourth quarter of 2002. Including revenue from Roadway operations, consolidated revenue for the fourth quarter of 2003 was $903 million.
Yellow Roadway reported revenues of $2.93 billion for the year, excluding Roadway revenue, an 11.6% increase over 2002. Consolidated revenues were $3.07 billion.
The company said it expected the combined company to earn between $2.70 and $3.30 per share in 2004, based on expected revenues of $6.5 billion.
"Joining forces with Roadway is a significant milestone, providing enhanced market reach and growth opportunities," said Bill Zollars, chairman, president and CEO of Yellow Roadway Corp. "We experienced slightly improving economic conditions during the fourth quarter," said Zollars. "We grew revenue, excluding Roadway, by over 6% percent, even though we had challenging weather conditions and a difficult comparison to last year due to a business surge created by the closure of Consolidated Freightways in September 2002."
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