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YRC’s 4Q Income Dips; ’06 Revenue, Operating Income Hit Records
Less-than-truckload carrier YRC Worldwide said late Thursday it earned $46.5 million or 80 cents a share in the fourth quarter, compared with $76.8 million or $1.30 a yr earlier.
For the full year, YRC earned $276.6 million or $4.74 a share, down from $288.1 million or $5.07 the previous year.YRC said its full-year revenue and operating income reached records. Its operating income rose to $545.4 million for the year from $536.3 million, while its 2006 revenue rose to $9.92 billion from $8.74 billion a year earlier.Fourth-quarter operating income fell to $107.7 million, from $153.7 million a year earlier.YRC in December lowered its earnings guidance for the fourth-quarter to 95 cents to $1.05 per share and for all of 2006 to $5 to $5.10 per share, due to a “significantly” slower economy. (Click here for previous coverage.)YRC Worldwide is ranked No. 3 on the 2006 Transport Topics 100 listing of North American for-hire carriers.