Less-than-truckload giant YRC Worldwide posted an operating loss of $95 million for the fourth quarter of 2009, up from the third quarter's $118 million loss and the year-ago quarter's operating loss of $335 million.

The company recently completed its debt-for-equity exchange, and is hopeful for 2010.

"We continued our positive momentum in the fourth quarter as we executed on our comprehensive plan," said Bill Zollars, chairman and CEO of YRC Worldwide. "During 2009 we accomplished the integration and right-sizing of the national networks, the turnaround of the regional business, cost reductions and process improvements, a self-help liquidity program, and, most recently, the successful note exchange to conclude the year."

Revenue for the quarter was $1.15 billion, compared with $1.9 billion for the year-ago period.
The company did not provide after-tax earnings information because it is currently completing its income tax provision.

"Our fourth quarter sequential improvement in operating results, despite seasonally lower revenues, resulted from our cost improvement actions, continued pricing discipline and initiatives to improve our revenue mix," said Tim Wicks, president and chief operating officer of YRC Worldwide. "Our improved performance, measured year-over-year and from a lower revenue base, is now becoming apparent in our operating results and we expect favorable year-over-year comparisons will accelerate during 2010."