Yellow Roadway Reports Higher Earnings in All Units

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ess-than-truckload carrier Yellow Roadway Corp. reported late Thursday that its first-quarter net income was $49.9 million or 96 cents a share, compared with $18.1 million or 38 cents a year earlier.

The company reported increased earnings at all its business units, including Yellow Transportation, Roadway Express and Meridian IQ.

Yellow Roadway said its operating revenue rose 8.1% to $1.68 billion.

The company "remains focused on operational execution" as it continues to "establish a strong presence in the next-day market with our acquisition of USF," Chairman and Chief Executive Officer Bill Zollars said in a statent.

Yellow Roadway is in the process of buying LTL company USF Corp. for $1.37 billion. (Click here for previous coverage.)

Last year’s first quarter was the company’s first full quarter since Yellow Corp. merged with Roadway Corp. in December 2003.

Yellow Transportation reported its revenue rose 7.9% to $791 million.

Roadway Express took in $767 million in revenue, a 6.9% increase.

New Penn Motor Express recorded $65 million in revenue, up 16.6% from a year earlier.

Meridian IQ, Yellow Roadway's logistics subsidiary, reported its revenue rose 23.5% to $56 million for the quarter.

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