USF Reports Third Quarter Results
USF Corp. announced results for the third quarter ended Oct. 2, 2004
USF Corp. announced results for the third quarter ended Oct. 2, 2004.
The company reported income from continuing operations of $12.1 million, or $.43 per diluted share, for the third quarter ended Oct. 2, 2004. This compares to income from continuing operations of $13.1 million, or $.48 diluted earnings per share, for the prior year period.
In May, the company closed its USF Red Star operations which served the Northeast. USF Red Star incurred shutdown costs and operating losses during the current third quarter of $7.8 million, or ($.18) per diluted share.
Revenue for the third quarter of 2004 was $582 million, compared to $585 million in the prior year period. Red Star revenue for the third quarter of 2003 was $58 million. There were 63 working days in the third quarter of 2004 compared to 64 working days in the third quarter of 2003. Revenue for the nine months was $1,811 million compared to $1,745 million in 2003. Red Star revenue for the nine months ended Oct. 4, 2004, was $87 million as compared to $176 million for 2003.
USF says it has resumed Northeastern service through its USF Holland operation.
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