Omaha, Neb.-based Werner Enterprises said earnings and revenue improved during the second quarter due to increased load counts, higher spot pricing and some contractual rate increases.


For the second quarter 2010, Werner's net income was $20.93 million, compared to $12.69 million in the 2009 quarter. Earnings were at 29 cents a share, a 63 percent boost over the second quarter 2009, when it was at 18 cents a share.

Operating revenues gained 15 percent, landing at $463.5 million during the quarter.

Truckload revenues, net of fuel surcharges, settled at $326.5 million, compared to about $310 million in the 2009 period, a 5 percent increase. The company said daily loads accepted in its one-way truckload division were higher than the second quarters of 2009, 2008, and 2007.

"The improved freight market conditions and our proactive fleet management decisions enabled us to be more selective with our freight choices, resulting in improved miles per truck, fewer empty miles, and a better rate per mile," the company said in a statement.

"As we noted last quarter, we continue to believe that more of the improvement in the freight market over the last six months can be attributed to a decreasing supply of truck capacity rather than rising demand, however both factors are helping the freight market improve. Inventory restocking also appeared to improve demand in recent months, particularly with many of our large retail customers. Our brokerage data suggests that carrier failures have begun to slow in recent weeks due to an improving freight market. However, we believe that many carriers are aging their fleets due to the rising cost of new trucks and inadequate rates. In addition, we believe the challenges of complying with increased government regulations and a lack of available equipment financing are proving difficult for smaller, private carriers."


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