YRC Worldwide Cites Record Earnings, Revenue for Year
YRC Worldwide, formerly Yellow Roadway Corp., recorded earnings $79.8 million or $1.34 a share for the fourth quarter of 2005, compared with $63.3 million or $1.24 a year earlier
YRC Worldwide, formerly Yellow Roadway Corp., recorded earnings $79.8 million or $1.34 a share for the fourth quarter of 2005, compared with $63.3 million or $1.24 a year earlier.
The less-than-truckload carrier reported $2.48 billion in operating revenue for the quarter, up from $1.77 billion a year earlier.
For the full year, YRC earned $291.1 million or $5.12 per share, a record, up from $184.3 million or $3.75 a year earlier. It generated a record $8.74 billion in revenue, an increase from $6.77 billion in the previous year.
The 2005 results included the acquisition of USF Corp, which YRC bought last year for $1.37 billion.
YRC reported improved earnings at all of its business units, including Yellow Transportation, Roadway Express and Meridian IQ.
Yellow Transportation's revenue rose 7.5 percent to $886.5 million from the previous fourth quarter, while operating income was $64.5 million, up from $55.7 million a year earlier.
Roadway Express generated $865 million in revenue, a 5.2 percent hike, with operating income rising to $62.6 million from $54.8 million.
Meridian IQ, the company’s logistics subsidiary, reported its revenue rose 156 percent to $153 million when including USF’s logistics unit. Operating income rose to $4.2 million, from $1.5 million.
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