Werner’s Fourth-Quarter Profit Dips

Truckload carrier Werner Enterprises said its fourth-quarter profit slipped to $18 million, or 25 cents a share, from $18.6 million, or 26 cents, a year ago.

Revenue fell 10% to $439.3 million, while trucking revenue excluding fuel surcharges declined 8% to $319 million, the company said late Wednesday.

For the full year, Werner earned $56.6 million, or 79 cents a share, down from $71.7 million, or 94 cents, the previous year. Revenue fell 23% to $1.67 billion.

Freight shipment volumes continued to firm in fourth quarter 2009.

Pricing remained competitive in the fourth quarter, due primarily to the high level of customer bid activity that occurred in the first half of 2009, Werner said in a statement.

Werner is ranked No. 14 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.