OTR Express Predicts Losses for Two Quarters

In a somber news release that echoed four issued previously, OTR Express Inc. (OTR), a nationwide truckload dry van carrier, predicted net losses for the fourth quarter of 2000 and the first quarter of 2001.

The company said it is seeking permission from its lenders to make reduced payments and is taking other actions to improve cash flow and reduce expenditures.

The normal practice of OTR, based in Olathe, Kan., is to report fourth-quarter results in February, after completion of its annual audit.

The company has issued similar releases regarding expectations for each of the previous three quarters of 2000 and the fourth quarter of 1999. In each quarter, the official results bore out the grim expectations.

For the full story, see the Jan. 29 print edition of Transport Topics. Subscribe today.