Troubled trucking giant forecasts operating profit forsecond half, post restructuring
YRC Worldwide expects its revenue to rise about $600 million this year to $4.9 billion and to report an operating profit of $4.2 million in the second half.
The company didn’t say how it would turn a projected $69.1 million operating loss in the first half into an operating profit, but it has high hopes for the second half.
YRC gave the public a limited view into its internal forecast for 2011 after sharing the information with its lenders while negotiating its financial restructuring.
The trucking company filed its forecast with the Securities and Exchange Commission Thursday as it nears the July 22 restructuring deadline.
Despite the recent slowdown in the economy, YRC is predicting a 7 percent increase in revenue in the second half of the year from the first half to $2.5 billion. Full Story.........