NEW YORK, N.Y. — Roadway Corp., which has agreed to a merger with rival LTL Carrier Yellow Corp., posted second-quarter revenues that were up 13% higher than last year.
Roadway reported revenues of $741,528,000, compared to revenues of $656,003,000 for the second quarter of 2002.
The company reported net income of $6,308,000, compared to net income of $5,674,000, for the same period last year.
President & CEO James D. Staley also said Roadway achieved a 43% increase in income from continuing operations.
But the U.S. LTL trucking industry remains mired in excess capacity despite the closure of Consolidated Freightways late last year. Staley said regional markets remain extremely competitive and Roadway Express’ volumes and base rates in those segments have been impacted.
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