Werner Quarterly Numbers Up Smartly
Werner Enterprises Inc. reported a net income of $25.8 million, or 32 cents per share for the three months ended Dec. 31, up 20% from $21.5 million or 26 cents a share a year ago
Werner Enterprises Inc. reported a net income of $25.8 million, or 32 cents per share for the three months ended Dec. 31, up 20% from $21.5 million or 26 cents a share a year ago.
Revenues for the quarter totaled $455 million, up from $380 million in the previous year.
Werner said its strong results reflected an improving economy and higher freight rates charged to meet demand.
"Considering the significant industry challenge of an extremely difficult driver market, I expect that freight demand and pricing will continue to be favorable in 2005," Chairman and Chief Executive Clarence Werner said in a statement accompanying the report.
Despite the driver shortage, Werner Enterprises added 147 trucks to its fleet during the quarter, finishing the year with 8,600 tractors in service compared with 8,350 a year ago.
Werner said sharply higher diesel prices were also a concern, reducing the company's fourth-quarter earnings by 2 cents a share compared with the year-ago period, despite its ability to recover most of the extra costs through fuel surcharges.
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