Yellow Corp. has reported first quarter 2003 income of $5.6 million, or $.19 per share, up substantially from about break-even performance in the first quarter of 2002.

Yellow Corp. reported the following consolidated results for the first quarter of 2003:
-- Operating revenue of $681 million, a 17.7% increase over $579 million in first quarter 2002
-- Operating income of $11.8 million compared to $2.7 million in first quarter 2002
"Yellow Transportation and Meridian IQ are performing very solidly," said Bill Zollars, chairman, president and CEO of Yellow Corp. "The first quarter of 2003 included weather-related expenses of about $5 million, costs of about $4 million for an industry conference we host every other year and a benefit of about a million dollars from an insurance recovery. Even with the net impact of these first quarter items, we were able to generate substantial revenue and earnings growth. During the first quarter, underlying economic conditions remained steady.
"As a result of the strong performance of Yellow Transportation and Meridian IQ, we remain comfortable with our full year 2003 guidance of $2.25 to $2.35 per share, and expect the second quarter to be between $.50 and $.60 per share," Zollars said. "We are assuming that current economic activity continues throughout 2003. However, due to our significant operating leverage, we are well positioned to take advantage of improved economic conditions when they occur."