Friday, February 5, 2010

US Truck And Logistics Giant Report Fourth Quarter Loss

Con-wayTo Hold Investor Conference Call Today
Shipping News Feature

US – Con-way, the freight trucking and logistics carrier have announced a group loss for the last quarter of 4 cents per share to investors, this compares to a 94 cent loss for the equivalent period in 2008. The company hosts an investors’ conference call today at 0830 hrs EST (0530 hrs Pacific). The less than truckload (LTL) operations of the freight division reported more stability of prices and lower yields in a difficult market.

The Menlo Worldwide Logistics division performed well with an operating income approaching $6 million against an equivalent 2008 loss of over £38 million whilst the full truckload sector operating income decreased over 43% to $8.2 million. The group’s other businesses, including trailer manufacture made a small profit as opposed to last years Q4 loss of $1.7 million.

Full year results show Con-way reporting a net loss (for common shareholders) just short of $111 or $2.33 per share. This compares to full-year 2008 net income to common shareholders of $67.0 million, or $1.40 per diluted share. The call can be accessed by dialling (866) 264-3634 or (706) 643-3632 (for international callers) and is expected to last approximately one hour. Callers are requested to dial in at least five minutes before the start of the call. The call will also be available through a live internet webcast at http://www.con-way.com/en/ in the investor relations section.