News Briefs - Jan. 23
The Latest Headlines:
- Ceridian, Comdata Parent, Shows ‘Solid’ 4Q Results
- Marten Transport Reports Weaker Fourth Quarter
- Werner Posts Revenue, Earnings Gains on Better 4Q Demand
- Knight Transportation Reports Improved 4Q
- ILWU Approves Six-Year Deal
- OPEC Production Increased on Saudi Output
- Volvo to Invest In Brazil Over Next Three Years
- UPS to Expand Japanese Courier Service
- Marten Transport Reports Weaker Fourth Quarter
Ceridian, Comdata Parent, Shows ‘Solid’ 4Q Results
Ceridian Corp., the parent of credit and debit card company Comdata, said in a release that it had earnings of $28.8 million or 19 cents per share in the fourth quarter of 2002. For the same period in 2001, the company posted earnings of $22.8 million or 16 cents a share.The subsidiary reported overall revenues of $314.5 million in the fourth quarter, up from $303.6 million during the same quarter in 2001. The company had net earnings of $28.8 million or 19 cents a share in the quarter ended Dec. 31, 2002, a $6 million or 3 cent improvement over the results from the same period in the previous year.
The company said that its Comdata unit, which is heavily used by the trucking industry for fuel purchases, had revenues of $84.6 million in the fourth quarter, compared with the $83.8 million it generated in 2001. For all of 2003, Ceridian expects Comdata to generate between $325 and $335 million. In 2002, the subsidiary had revenues of $314.6 million, during the previous year Comdata generated $316 million. Transport Topics
Marten Transport Reports Weaker Fourth Quarter
Marten Transport Ltd. said Thursday that its net income for the final quarter of 2002 declined to $579,000 or 13 cents per share, compared with the $1.3 million or 31 cents a share in the same quarter the previous year.During the fourth quarter, ended Dec. 31, 2002, the company had revenues of $76.3 million, up from the $70.4 million it generated a year earlier. Revenue from fuel surcharges increased 6.8% during the quarter.
For the full year, the Mondovi, Wis.-based carrier of time- and temperature-sensitive materials reported revenues of $293.1 million and net income of $6 million or $1.37 per share.
Marten is ranked No. 59 on the 2002 Transport Topics 100 listing of the largest trucking companies in the United States and Canada. Transport Topics
(Click here for the full press release.)
Werner Posts Revenue, Earnings Gains on Better 4Q Demand
Truckload carrier Werner Enterprises Inc. said Wednesday that it had solid gains in its net income and revenues for the fourth quarter.The company’s net income rose 28% to $17.6 million, while its earnings per share jumped 27% to 27 cents per share. Werner said it generated $352.4 million in the final quarter of 2002, a 10% increase from the same quarter the previous year.
Werner Chairman and Chief Executive Officer Clarence Werner said that the improvements in its fourth-quarter performance were the result of improved freight demand.
Based in Omaha, Neb., Werner is ranked No. 19 on the 2002 Transport Topics 100 listing of the largest trucking companies in the United States and Canada. Transport Topics
(Click here for the full press release.)
Knight Transportation Reports Improved 4Q
Knight Transportation Inc. said Wednesday that its net income and revenue both posted double-digit improvements in the final three months of 2002.For the fourth quarter, ended Dec. 31, 2002, the Phoenix-based truckload carrier reported a 20.6% increase in net income to $8.2 million. The company’s earnings per share rose 15.8% in the fourth quarter to 22 cents a share. During the same period in 2001, the company posted $6.8 million in net income and earnings of 19 cents per share.
The company’s revenues, before collecting fuel surcharges, rose 17.4% to $76.4 million in the fourth quarter.
For the full 12 months ended Dec. 31, 2002, the company posted a 25% increase in net income to $27.9 million and a 14.1% increase in earnings per share to 73 cents.
night Transportation is ranked No. 64 on the 2002 Transport Topics 100 listing of the largest trucking companies in the United States and Canada. Transport Topics
(Click here for the full press release.)
ILWU Approves Six-Year Deal
Workers represented by the International Longshore and Warehouse Union approved a new six-year contract, ending a labor dispute that shut down ports on the West Coast for 10 days last year, Bloomberg reported.The shutdown tied up cargo for months and some reports say that supply chains in the western United States are still being disrupted by the closure.
Eighty-nine percent of the ILWU's membership agreed to the new deal with the Pacific Maritime Association, which runs the 29 ports on the West Coast, Bloomberg said. Transport Topics
OPEC Production Increased on Saudi Output
Oil production by the cartel of the world’s leading oil producers rose in January as Saudi Arabia pumped more oil during the month, an industry observer said Thursday.Production by members of the Organization of Petroleum Exporting Countries rose to 22.9 million barrels of oil per day, PetroLogistics said. The industry watchdog had projected OPEC’s production to be about 22.6 million barrels a day.
Saudi Arabia, the group said, has been pumping 8.5 million barrels of oil each day, up 400,000 from last month. Venezuela, however, the victim of a crippling strike for several weeks, has seen its production dropped to about 400,000 barrels a day from the nearly 1 million it had produced prior to the start of the Dec. 2 strike.
PetroLogistics’ figures account for all the oil produced by OPEC’s members, with the exception of Iraq, which has its production controlled by the United Nations. Transport Topics
Volvo to Invest In Brazil Over Next Three Years
Truck maker Volvo AB plans to invest $100 million in Brazil over the next three years, expecting to increase sales of its trucks and buses in South America’s largest economy, Bloomberg reported Wednesday.The Swedish truck manufacturer would like to upgrade its Curitiba, Brazil plant, Bloomberg said. Those upgrades, the company believes could double the number of truck cabins Volvo ships back to Sweden to 600.
Volvo said the plan is part of a consolidation program designed to grab market share from competitors and increase sales in South America, Bloomberg reported. Transport Topics
UPS to Expand Japanese Courier Service
Package delivery giant United Parcel Service Inc. is planning on expanding its courier service in Japan, a newspaper in the Asian country reported.Japanese newspaper Nihon Keizai said that UPS intends to increase its workforce and vehicles by about 30% during 2003, Bloomberg reported.
The company currently only provides service in Tokyo, Osaka and Yokohama, but the plan calls for more cities to be added, Bloomberg said.
UPS is ranked No. 1 on the 2002 Transport Topics 100 listing of the largest trucking companies in the United States and Canada. Transport Topics
