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TRUCKING INDUSTRY * USA - YRC Worldwide suffers another big quarterly loss
Overland Park-based YRC Worldwide is struggling to survive amid the recession and a huge debt load
Kansas City,MO,USA -The Kansas City Star, by RANDOLPH HEASTER -30 July 2009: -- Another big quarterly loss Thursday for YRC Worldwide Inc. magnified the importance of next week’s vote by its union workers on whether to accept more cuts... The Overland Park-based trucker, struggling to survive amid the recession and a huge debt load, saw revenues plunge as the company continued downsizing to match the industry’s declining volumes... Including special charges, YRC lost $309 million, or $5.20 a share, for the three months that ended June 30. Excluding charges related to reducing and merging trucking operations, the loss was $3.53 a share... Revenues plummeted 45 percent for the quarter to $1.33 billion, compared with $2.40 billion in the same quarter last year. Quarterly revenues had fallen 33 percent in the first quarter...Labels: trucking industry news USA
posted by Unknown @ 6:54 AM
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