Werner Enterprises Inc. said its operating revenues increased 8 percent to $491.9 million in first quarter 2006 compared to $455.3 million in first quarter 2005.
Net income increased 11 percent to $22.0 million in first quarter 2006 compared to $19.9 million in first quarter 2005. Earnings per share increased 11 percent to $.27 per share in first quarter 2006 compared to $.25 in first quarter 2005.
Freight demand was slightly softer in January and February 2006 compared to a stronger freight market in January and February 2005. Freight demand continued to show softness in March 2006 but was about the same as March 2005, due principally to an easier comparison caused by a decline in seasonally adjusted freight demand from February 2005 to March 2005.
For much of first quarter 2006, freight demand was geographically weaker in the western United States. As first quarter 2006 progressed, the company experienced the typical seasonal improvement in freight demand from January to March.
Werner is benefiting from actions taken by the company during the last few years to lessen the impact of freight market fluctuations, particularly during first quarter that is historically the most challenging quarter of the year in terms of freight demand. These actions include managing more freight due to the expansion of the company's Value Added Services division, increasing high-service multimodal freight that gives Werner the flexibility to use either truck or truck/rail service options, and reducing the percentage of the fleet that has one-way freight shipments.
Net income increased 11 percent to $22.0 million in first quarter 2006 compared to $19.9 million in first quarter 2005. Earnings per share increased 11 percent to $.27 per share in first quarter 2006 compared to $.25 in first quarter 2005.
Freight demand was slightly softer in January and February 2006 compared to a stronger freight market in January and February 2005. Freight demand continued to show softness in March 2006 but was about the same as March 2005, due principally to an easier comparison caused by a decline in seasonally adjusted freight demand from February 2005 to March 2005.
For much of first quarter 2006, freight demand was geographically weaker in the western United States. As first quarter 2006 progressed, the company experienced the typical seasonal improvement in freight demand from January to March.
Werner is benefiting from actions taken by the company during the last few years to lessen the impact of freight market fluctuations, particularly during first quarter that is historically the most challenging quarter of the year in terms of freight demand. These actions include managing more freight due to the expansion of the company's Value Added Services division, increasing high-service multimodal freight that gives Werner the flexibility to use either truck or truck/rail service options, and reducing the percentage of the fleet that has one-way freight shipments.
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