LTL carrier Roadway Express second-quarter earnings fell 59 percent because of weak tonnage levels and warned that the third quarter would continue to be below last year's levels.

Akron, Ohio-based Roadway, which warned in May that tonnage levels were 13 to 14 percent below those of a year ago, reported second-quarter earnings of $4 million, or 22 cents per share. That compared with earnings of $9.8 million, or 52 cents per share, a year earlier.
The company said it was "mildly optimistic" about the second half of the year as business levels appeared to be stabilizing. It expects third-quarter tonnage levels to be 10 percent below those of a year ago and its operating ratio to deteriorate about one half a point compared with last year. Roadway said it sees improvement in fourth-quarter comparisons.
Roadway's second-quarter revenues fell 9.2 percent to $642 million from $707 million a year earlier, the company said. Second-quarter total tonnage fell 13.3 percent from a year earlier.
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