YRC’s 2Q Income Declines
Less-than-truckload carrier YRC Worldwide said late Thursday its second-quarter net income was $55.4 million or 95 cents a share, down from $92.3 million or $1.58 a year earlier.
Operating revenue for the quarter dipped to $2.49 billion, from $2.57 billion a year ago. Operating income fell to $108.4 million from $172.3 million.
“The transportation industry continues to experience soft volumes year over year, and most economists have pushed out economic strengthening until late in the year,” said Bill Zollars, YRC’s chairman and chief executive officer.
“The slower economic conditions will continue to impact the company as we move through 2007,” he said in a statement.
YRC Worldwide is ranked No. 4 on the 2007 Transport Topics 100 listing of U.S. and Canadian for-hire carriers.
