Central Freight Lines Inc., Waco, Texas, announced its financial results for the quarter and nine months ended October 2, 2004.
Central also announced today the election of J. Campbell ("Cam") Carruth, former chief executive officer of US Freightways Corp. to the Central Board of Directors.
For the third quarter, Central's operating revenue was $98.5 million compared to operating revenue of $101.2 million for the third quarter of 2003. Excluding fuel surcharge revenue, LTL revenue per hundredweight was down 1.6% in the 2004 quarter compared to the 2003 quarter.
Consistent with previous guidance, a net loss of $7.9 million, or $0.43 per diluted share, was realized in the third quarter of 2004. For the nine months ended October, 2004, operating revenue amounted to $301.1 million, a 0.3% increase over the $300.2 million reported for the same period in 2003. A net loss of $11.6 million, or $0.65 per diluted share, was reported for the nine months ended October 2, 2004, compared to pro forma net income of $6.2 million, or $0.52 per diluted share, for the same period in 2003.
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