• ITVI.USA
    14,293.460
    37.930
    0.3%
  • OTRI.USA
    22.590
    -0.070
    -0.3%
  • OTVI.USA
    14,281.460
    36.060
    0.3%
  • TLT.USA
    2.780
    0.000
    0%
  • TSTOPVRPM.ATLPHL
    2.650
    -0.300
    -10.2%
  • TSTOPVRPM.CHIATL
    3.280
    -0.100
    -3%
  • TSTOPVRPM.DALLAX
    1.460
    -0.040
    -2.7%
  • TSTOPVRPM.LAXDAL
    2.490
    -0.200
    -7.4%
  • TSTOPVRPM.PHLCHI
    1.970
    0.010
    0.5%
  • TSTOPVRPM.LAXSEA
    2.990
    -0.310
    -9.4%
  • WAIT.USA
    127.000
    0.000
    0%
  • ITVI.USA
    14,293.460
    37.930
    0.3%
  • OTRI.USA
    22.590
    -0.070
    -0.3%
  • OTVI.USA
    14,281.460
    36.060
    0.3%
  • TLT.USA
    2.780
    0.000
    0%
  • TSTOPVRPM.ATLPHL
    2.650
    -0.300
    -10.2%
  • TSTOPVRPM.CHIATL
    3.280
    -0.100
    -3%
  • TSTOPVRPM.DALLAX
    1.460
    -0.040
    -2.7%
  • TSTOPVRPM.LAXDAL
    2.490
    -0.200
    -7.4%
  • TSTOPVRPM.PHLCHI
    1.970
    0.010
    0.5%
  • TSTOPVRPM.LAXSEA
    2.990
    -0.310
    -9.4%
  • WAIT.USA
    127.000
    0.000
    0%
American Shipper

USFREIGHTWAYS 3RD-QUARTER INCOME DIPS

USFREIGHTWAYS 3RD-QUARTER INCOME DIPS

   As expected, USFreightways Corp., the Chicago-based logistics company, reported a dip in third-quarter income, due to results of its regional trucking subsidiaries and operating loss at the company's domestic and international freight forwarding division.

   Third quarter net income fell 18.2 percent, to $24.3 million, despite a 9.5-percent increase in revenue, to $626 million.

   Operating income for regional trucking fell 4.7 percent to $45.2 million, and the operating ratio increased to 90.3 percent, from 94.4 percent in the 1999 quarter. Less-than-truckload shipments rose 2.4 percent and LTL tonnage increased 1.8 percent. LTL revenue per shipment rose to $112.10 from $109.47.

   USF Worldwide, the freight forwarding division, lost $700,000 in the third quarter after earning $2.3 million in the year-earlier period. A 5-percent increase in revenue, to $66.4 million, was offset by deterioration in gross margin and increases in information technology expenses related to installation of new freight management software, USFreightways said. USF Asia lost $1 million in the latest quarter. USF Worldwide acquired Ultimex, an air freight forwarder in Great Britain, near the end of the quarter.

   USFreightways' logistics business revenue grew 31 percent to $69.8 million, but operating profits declined 13.5 percent to $4.2 million, due to continuing investment in technology.

   For January-September, USFreightways' net income rose to $47.2 million, from $73.5 million. Revenue rose 13.6 percent to $1.86 billion.