OVERLAND PARK, Kan. (AP) — Less-than-truckload carrier YRC Worldwide Inc. expects the sagging freight volumes that hurt its performance in the fourth quarter of 2006 to continue in 2007.
However, the company is more optimistic about the future than many, offering a full-year projection above the Wall Street consensus. The company said it expects 2007 earnings in the range of $4.70 per share to $4.90 per share on revenue of $10.2 billion. In 2006, the company earned $4.74 per share on revenue of $8.74 billion.
Analysts polled by Thomson Financial forecast a 2007 profit of $4.46 per share on revenue of $9.91 billion, according to AP Newswire.
Shares added $1.32, or 3 percent, to close at $45.67 on the Nasdaq. In aftermarket activity, shares advanced another $2.83, or 6.2 percent, to $48.50. The stock has ranged from $35.27 to $49.74 over the past year.
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