U.S. Xpress sees Q2 revenue increase

U.S. Xpress Enterprises, Inc. recently announced operating revenue and earnings for the second quarter and six months ended June 30, 2007

U.S. Xpress Enterprises, Inc. recently announced operating revenue and earnings for the second quarter and six months ended June 30, 2007. Revenue for the second quarter of 2007 increased 2.8% to $400.3 million, compared with $389.5 million in the second quarter of 2006. For the six months ended June 30, 2007, revenue increased 10.5% to $761.2 million from $689.2 million in the prior-year period.

"Although our truckload operating results improved significantly from the first quarter of 2007, continuing softness in truckload freight demand in the second quarter resulted in a difficult pricing environment and lower utilization compared to the prior year second quarter adversely impacting truckload operating income,” observed Pat Quinn, co-chairman. “On a positive note, Xpress Global achieved its sixth consecutive quarter of improved year over year quarterly operating income."

In response to the June 22, 2007, announcement by co-chairmen Max Fuller and Pat Quinn that an entity controlled by them intended to commence a tender offer for all of the company's outstanding Class A common stock at an offer price of $20.00 per share, the board of directors has appointed a special committee comprised solely of independent directors to evaluate the offer.

TAGS: News
Hide comments

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Publish