![[Valid Atom 1.0]](valid-atom.png "Validate my Atom 1.0 feed")
TRUCKING NEWS * USA - UPS Reports 4Q Profit; Revenue Slips
Company Freezes Management Salaries, Suspends 401(k) Matches
Atlanta,GA,USA -Transport Topics -3 Feb 2009: -- UPS Inc. said Tuesday it earned $254 million, or 25 cents per share, in the fourth quarter, though its revenue declined and it warned this year would be difficult in light of the struggling economy... The company said it was taking cost-cutting measures such as freezing management salaries and that it is suspending its matching contributions to employees’ 401(k) voluntary retirement plans... Fourth-quarter revenue slipped to $12.7 billion, from $13.4 billion a year ago... UPS had reported a $2.6 billion loss, or $2.52 a share, in last year’s fourth quarter, largely based on charges related to exiting a union pension plan... Full-year revenue rose 3.6% to $54.5 billion...* Covenant Reports Loss for 4Q, Year
Chattanooga,TN,USA -Transport Topics -3 Feb 2009: -- Covenant Transportation Group said Tuesday it lost $39.8 million, or $2.83 per share, compared with a profit of $176 million or 1 cent, a year ago... Excluding impairment charges, the truckload carrier said it lost $6.2 million, or 44 cents per share... Total revenue fell 11.4% to $171 million for the quarter, while freight revenue fell 9.8% to $143.9 million... For the full year, Covenant lost $53.4 million, or $3.80 per share, compared with a loss of $16.7 million, or $1.19, in 2007... Revenue for the full year rose 8.6% to $773.9 million, while freight revenue increased 2.2% to $615.8 million...Labels: trucking industry news USA
posted by Unknown @ 6:24 PM
0 Comments:
Post a Comment
<< Home