Roadway and Werner Enterprises, two of the nation’s largest trucking companies, reported financial earnings Wednesday.


Roadway Corp. Akron, Ohio reported revenues of $2.79 billion for the year 2001, down 8.2% when compared to revenues of $3.04 billion in 2000.
Net income for the year decreased 45.5% to $30.84 million, compared to net income of $56.5 million for 2000.
For Roadway Express and its subsidiaries, which constituted 99% of the company's annual volume in 2001, business levels as indicated by total tonnage were down 12.6%. Less-than-truckload tonnage was down 12.5%, and truckload tonnage decreased by 13%. Revenue per ton increased 4% versus last year.
For the fourth quarter, revenues were down 9.3% to $867.5 million, compared with revenues of $956 million for the fourth quarter of 2000. Net income for the quarter declined 46.3% to $13.7 million, compared to net income of $25.4 million during the same period in 2000.
During the quarter, Roadway Express and its subsidiaries' tonnage was down 13.2% compared to fourth quarter 2000. For the quarter, LTL tons decreased 13%, and truckload tonnage was down 13.6%. Revenue per ton, net of year-over-year fuel surcharge reductions of 2.2%, was 3.4% higher than the same period last year.
"Due to the continuing downturn in the national economy, our business volumes were depressed going into the fourth quarter," said CEO Michael W. Wickham. "With the events of Sept. 11, they dipped even further, but fairly quickly returned to their previously soft levels. These results reflect our strategy to keep costs variable. All of our employees did an excellent job managing expenses in a very difficult economic period. Our results also reflect the fact that our pricing environment continued to be relatively stable."

Werner Enterprises, Omaha Neb., reported higher operating revenues and earnings for the fourth quarter. Operating revenues increased 3% to $320.5 million compared to $311.4 million in fourth quarter 2000. Net income increased 10% to $13.7 million compared to $12.5 million in fourth quarter 2000.
For the year, operating revenues of $1.271 billion in 2001 were 5% higher than the $1.215 billion of operating revenues in 2000. Net income decreased slightly to $47.7 million in 2001, compared to $48 million in 2000.
"Earnings improvement continued in fourth quarter 2001 despite difficult operating conditions," said Chairman and CEO Clarence Werner. "Disciplined execution of our operating plan enabled Werner Enterprises to maintain its high equipment utilization. Revenue per truck per week, net of fuel surcharge, was $2,910, a 1% increase over our revenue per truck per week in fourth quarter 2000. Recognizing that the economy was weaker in fourth quarter 2001 than fourth quarter 2000, I am pleased with the improvement in our revenue per truck per week."
Freight demand remained soft throughout the quarter, compared to the same period a year ago. While business inventory levels in the United States are at low levels, to date the company says it has not yet experienced a pickup in freight demand that would be expected to replenish these inventories. As a result, they plan to continue growing their fleet at a lower rate in the near term, but they note they plan to increase their growth rate when they see better returns.