Con-way’s Fourth-Quarter Income Declines

Con-way Inc. said late Monday its fourth-quarter net income fell to $34.5 million, or 73 cents a share, from $82.4 million, or $1.66 per share, a year earlier.

Revenue jumped 20.2% to $1.2 billion, from $998.6 million a year ago, the company said in a statement.

Fourth-quarter operating income dropped 36.2%, to $70 million.

Excluding one-time items such as a restructuring charge, the company said it earned 88 cents a share, compared with 83 cents the previous year.

For the full year, Con-way earned $146 million, or $3.04 per share, down from $259 million, or $4.98, in 2006.

Con-way is ranked No. 6 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.