Monday, January 28, 2008

YRC posts huge losses for quarter, year

YRC Worldwide Inc. posted a $735.8 million loss in the fourth quarter, a 1,682 percent plummet from earnings of $46.5 million during the fourth quarter of 2006.

For the year, YRC (Nasdaq: YRCW) had a loss of $638.4 million, down 302 percent from earnings of $276.6 million the year before, the Overland Park-based transportation service provider said in a Monday release.

"The economic environment was challenging throughout 2007, and it was increasingly so in the fourth quarter," CEO Bill Zollars said in the release.

Loss per share in the fourth quarter was $12.99, compared with earnings of 80 cents a share a year earlier. For the year, loss per share was $11.17, compared with earnings of $4.74 in 2006.

Thirteen analysts surveyed by Thomson One Analytics had a consensus earnings estimate of 54 cents a share for the fourth quarter, and 11 analysts estimated earnings per share of $2.34 for 2007. Full Story......

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