ROADWAY REPORTS DROP IN SECOND QUARTER EARNINGS
Roadway Corp. reported second quarter net income of $4.02 million, down 59.2 percent from the second quarter of 2000. Revenues fell 9.2 percent to $642.11 million.
Total tonnage fell 13.3 percent for the quarter, as less-than-truckload volume was down 13.6 percent and truckload tonnage declined 11.7 percent. Revenue per ton rose 4.7 percent and operationg expenses per ton rose 6.2 percent.
'We were imbpacted by the continued sluggishness of the economy,' said Michael W. Wickham, chairman and chief executive officer of Roadway. 'It does appear that after three consecutive quarters of decline, we have seen the business levels stabilize.'
For the first half of 2001, Roadway reported net income of $9.01 million, down 5.5 percent from the year-earlier period. Revenue was $1.29 billion, down 6.7 percent.