Central Freight Lines, Inc., Waco, Texas, expects third quarter results to fall significantly short of previous estimates.
The company announced it now anticipates a loss of approximately $.40 to $.45 per share.
"The negative trends Central experienced during the second quarter of 2004 continued longer than we had anticipated,” said president and CEO Bob Fasso.
During August, Central consolidated ten terminals and converted 7 additional terminals to driver-only locations. The company reduced payroll by approximately 300, and is re-engineering linehaul runs.
Central Freight Lines, Inc. is a non-union LTL carrier specializing in regional overnight and second day markets.
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