YRC Worldwide Reports Fourth-Quarter Profit

YRC Worldwide Friday reported fourth-quarter net income of $23.1 million, or 49 cents per share, though it lost $322 million, or $8.13 per share, for the full year.

The quarter’s earnings compare with a profit of $119.5 million, or $41.06 a share, a year earlier, though the 2010 quarter included a $52 million benefit from an income tax settlement and the 2009 quarter included a $177 million after-tax gain.

Fourth-quarter operating revenue rose 3.9% from a year ago to $1.1 billion, and its full-year operating loss of $231 million compared with an $890 million operating loss in 2009, the less-than-truckload carrier said.

YRC generated positive net cash flow from operating activities of $10 million for the quarter and that the quarter’s operating loss of $27 million was an improvement from a $91 million operating loss a year earlier.

Its YRC National Transportation unit’s tons per day declined 7.7% for the quarter, while YRC Regional Transportation’s tons per day rose 13.9% from a year ago.

Compared with the third quarter, YRC National Transportation’s tonnage fell 5.2% and YRC Regional Transportation tons per day dipped 1.9%, the company said.

YRC is ranked No. 4 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.