Con-way managed to get its net income up from the first quarter of 2009, but the carrier still reported a net loss of $4 million, or 8 cents a share, during the first quarter 2010.

This compares to a net loss of $154 million, or $3.35 a share, during the 2009 quarter. The better results are a sign that the freight and logistics markets improved, along with the general economy.

"Con-way Freight experienced sequential tonnage gains month-to-month that were stronger than historical seasonal data would indicate," said Douglas W. Stotlar, Con-way's president and CEO. "The LTL supply/demand equation is undergoing a slow but steady shift, which should lead to stronger pricing, but it will take some time for capacity to fully rationalize, dampening our expectations for significant expansion of LTL operating margins in the near term."

The company's revenue was up 20.7 percent from the year-ago period to $1.16 billion.

Con-way Freight, the company's less-than-truckload operation, saw revenue increase 26.3 percent to $725 million, compared to last year's $573.8 million. The segment narrowed its operating loss from $23.4 million in the year-ago period to $3.2 million in the most recent quarter. The company says results were adversely affected by weak LTL pricing, but benefited from cost-cutting initiatives.

Con-way Truckload, the company's truckload operation, had a 4.3 percent boost in revenue to $140.6 million, a reflection of higher fuel-surcharge revenue. Operating income was $3 million, up from an operating loss of $132.7 million.

"Profits were restrained primarily due to higher fuel prices and lower revenue per loaded mile," Stotlar said, of the truckload results. "With the recovering economy, demand is increasing in a market with less capacity than a year ago. That's strengthening spot pricing, although longer-term contract rate increases have been slower to gain traction."

Con-way's logistics arm Menlo Worldwide Logistics reported revenue of $355.2 million, up 12.2 percent from last year's $316.5 million. Operating income was $12.9 million, compared with $5 million in the first quarter of 2009.