Werner rolls to nine lucrative quarters in a row
Jan 23, 2004 12:00 PM, from staff and wire reportsWerner Enterprises Inc, the Omaha NE-based truckload carrier, reported its ninth consecutive year-over-year quarter of higher operating revenues and earnings for the fourth quarter ended Dec 31, 2003.
Operating revenues increased 8% to $380.2 million, compared with $352.4 million in fourth-quarter 2002. Net income rose 22% to $21.5 million versus $17.6 million in fourth-quarter 2002.
For the year, operating revenues of $1.458 billion in 2003 were 9% higher than $1.341 billion in 2002. Net income climbed 20% to $73.7 million in 2003, compared with $61.6 million in 2002.
"During fourth quarter, demand for our services was stronger than fourth quarter a year ago," said Clarence "C L" Werner, chairman and chief executive officer. "I anticipate we will continue to see tightened truckload capacity in 2004 due to a more challenging driver market and the impact of the new hours-of-service rules. We are continuing to execute our plan of limited fleet growth and remain focused on improving our operating margin."