YRC Worldwide Turns To Profit In Q4, Loss Per Share Narrows - Quick Facts

(RTTNews) - Transportation company YRC Worldwide Inc. (YRCW) reported that its fourth quarter of 2013 net income attributable to the company was $0.4 million, compared to a loss of $35.3 million in the year ago quarter. However, net loss per share narrowed to $1.71 from $4.53 in the year ago quarter.

During the fourth quarter of 2013, YRC Freight experienced a slight year-over-year volume increase due to a 1.0% increase in shipments per day and 3.2% increase in tonnage per day but fell short in overall pricing with a decline in revenue per hundredweight of 3.3% and a 1.1% decline in revenue per shipment.

Consolidated operating revenue for the quarter was $1.208 billion, a 3.3% higher than the prior year's $1.169 billion.

Analysts polled by Thomson Reuters expected the company to report a loss of $2.77 per share and revenues of $1.18 billion for the quarter. Analysts' estimates typically exclude special items.

"As we move into 2014, we will be focusing our efforts and attention on implementing the changes in our recently ratified Memorandum of Understanding (MOU) with the International Brotherhood of Teamsters (IBT), solidifying YRC Freight's regimented service cycle, more aggressively managing our yield across our operating companies, investing in our technology and revenue equipment and reengaging our workforce," said James Welch CEO.