Con-way Inc. said its fourth-quarter net income slipped from a year ago while revenue improved, but its full-year profit rose from the previous year.
Net income fell to $11.8 million, or 21 cents a share, from $23 million, or 41 cents a year ago. Revenue rose 3.4% to $1.36 billion, Con-way said late Wednesday.
For the full year, Con-way earned $104.5 million, or $1.85 per share, up from $88.4 million, or $1.58 per share, in 2011.
Operating income for the full year rose 10% to $228.8 million, while revenue rose 5.5% to $5.58 billion.
The quarter’s performance was negatively impacted by certain tax items, while the year-ago period included a $10 million gain from settlement of a dispute related to Con-way’s 2007 acquisition of Chic Logistics.