Fighting to stay in the black
The fourth quarter of ‘08 was especially brutal for a number of trucking companies, but transportation providers are doing what they can to stay in the black despite dropping tonnage numbers.
YRC Worldwide Inc. announced a loss per share for the fourth quarter of 2008 of $1.63 and $1.22 for the full year, excluding impairment charges. With impairment charges, which consisted of $141 million related to the integration of Yellow Transportation and Roadway, the company lost $4.14 per share in the fourth quarter and $16.92 per share in 2008.
Both YRC’s national and regional tonnage dropped substantially. YRC National Transportation’s total tonnage per day was down 14.6% in the fourth quarter, and YRC Regional Transportation’s total tonnage per day was down 14% when adjusting for network changes and 23.6% overall.
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