Tough Strategies Boost Results

May 30, 2002 9:25 AM, EDT

First-quarter reports show that some publicly traded trucking companies have boosted their net earnings through the tough turnaround plans they instituted a year ago to staunch worrisome losses.

Of quarterly reports issued through May 14, six major carriers were able to increase profits or eliminate losses from last year’s levels, even though their revenues continued to decline. Another carrier reduced what had been a $20 million loss by nearly 94%.

At these trucking firms, managers tamped down spending by taking steps such as selling operating divisions or dismissing employees to return to black ink.

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