Con-way Posts Higher Fourth-Quarter Profit

Con-way Inc.’s fourth-quarter profit jumped as its truckload, less-than-truckload and logistics operations all improved.

The carrier’s net income rose to $23 million, or 41 cents share, from $2.4 million, or 4 cents, a year ago. Revenue rose 8.7% to $1.32 billion.

The 2011 fourth-quarter results included a $10million gain from settlement of a dispute related to its 2007 acquisition of Chic Logistics, while the 2010 fourth-quarter had included a $1.1 million restructuring charge.

LTL unit Con-way Freight, the company’s largest business, saw its operating income jump to $19.6 million, from $1.8 million a year ago. Revenue rose 8.2% to $796.6 million.

Full-year net income jumped to $88.4 million, or $1.58 per share, from $4 million, or 7 cents, in 2010. Revenue rose 6.8% to $5.29 billion.

Con-way Inc. is ranked No. 3 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.