Roadway Corp., which today announced it would merge with rival LTL Carrier Yellow Corp., said that its second-quarter revenues were up 13% compared to 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 said that despite continuing weakness in the economy and excess capacity that still remains following the closure of Consolidated Freightways, Roadway Corporation achieved a 43% increase in income from continuing operations.
"While the long-haul industry experienced significant capacity contraction from Consolidated's closure, regional markets remain extremely competitive," Staley said. "Roadway Express' volumes and base rates in those segments have been additionally impacted."