YRC Reports Smaller Fourth-Quarter Operating Loss
YRC Worldwide said Friday its fourth-quarter operating loss was $95.4 million, compared with an operating loss of $335.3 million a year earlier.
Revenue fell to $1.15 billion from $1.93 billion in the 2008 fourth quarter, the less-than-truckload carrier said in a statement.
YRC did not provide after-tax earnings information, saying it is currently completing its income tax provision and would file that information in its 2009 10-K report with the Securities and Exchange Commission.
YRC National Transportation’s total shipments per day fell 40% and total revenue per hundredweight including fuel surcharges declined 4.2%.
YRC Regional Transportation’s total shipments per day fell 20% and total revenue per hundredweight including fuel surcharge declined 7.7%.
The carrier said it recently hired an independent research firm to conduct a survey of transportation decision makers regarding the 2010 business outlook. The results showed 62% said they were optimistic their business volumes would increase this year, while 85% said they intended to increase or maintain their YRC Worldwide shipments during 2010.
YRC Worldwide is ranked No. 4 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.
