CNF Reports Its Profit Rose 90% in Second Quarter

Click here to write a Letter to the Editor.

ransportation firm CNF Inc. late Tuesday reported its second-quarter income rose by 90%, to $71.1 million or $1.24 a share, up from $37.5 million or 64 cents a year earlier.

The company said its revenue rose 12% to $1.09 billion, from $924.4 million last year.

Operating income at CNF’s Con-Way Transportation Services unit, which operates a number of less-than-truckload carriers, rose 49% to $63.9 million from a year earlier. Con-Way’s revenue rose 11% to $640.9 million.

CNF’s Menlo Worldwide logistics unit, which includes Menlo Logistics and Vector SCM, saw its operating income increase 27% to $10.6 million, the company said.

The company’s other operations, including the results of Road Systems trailer manufacturing and corporate activities, reported an operating loss of $800,000, compared with a loss of $900,000 a year earlier.

CNF in late April named Douglas Stotlar its new chief executive officer. (Click here for previous coverage.)

CNF is ranked No. 6 on the Transport Topics 100 list of the largest U.S. and Canadian trucking companies.