Monday, August 06, 2012

YRC reports positive income from operations

Trucking company YRC Worldwide Inc. reported it lost $22.6 million, or $3.21 a share, for its second quarter ending June 30, while its top executive said the firm was performing slightly better than predicted.

The loss reported Friday is an improvement from a year ago, when the Overland Park, Kan.-based company with operations in Summit County lost $43 million, or $267.33 a share, for the same period a year earlier.

The per-share difference totals reflect a financial restructuring that has taken place over the last year. A 1-to-300 reverse stock split took effect Dec. 1, 2011. YRC is the parent of the former Akron-based Roadway.

The soft economy caused revenue to drop slightly from a year ago, the company said. YRC said it took in $1.251 billion, down 0.5 percent from $1.257 billion from the second quarter of 2011.  Full Story........

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