Yellow Corp. today reported first quarter 2003 income of $5.6 million, up from a flat performance in the first quarter last year.
The trucking group's operating revenue was $681 million, a 17.7% increase over $579 million in first quarter 2002. Its operating income increased to $11.8 million compared to $2.7 million in the same period last year.
President & CEO Bill Zollars said its operating subsidiaries, Yellow Transportation and Meridian IQ, had solid performances.
Yellow Transportation reported first quarter revenue of $660 million, up 16.9% from the first quarter of last year. It's operating income jumped from $6.7 million to $19.5 million.
Meridian IQ, Yellow's logistics arm, reported operating revenue of $22 million, which is 43% higher than the same period last year. Meridian cut its operating loss to $0.9 million from $1.5 million.
