Con-way Q4 revenue up 8.7%
Con-way, a freight transportation and logistics services company, has reported a revenue of $1.32bn for the fourth quarter of 2011, an increase of 8.7% compared to $1.21bn it reported during the same period in 2010.
Net income for the fourth quarter of 2011 was $23m, compared to $2.4m it reported for the comparable period prior year.
For the fourth quarter of 2011, the company posted operating income of $49.9m, compared to $15.8m for the same quarter a year ago.
The company said that its less-than-truckload (LTL) unit Con-way Freight, continued to benefit from stable network volumes and increasing efficiencies.
Con-way president and CEO Douglas Stotlar said the fourth quarter's results capped a year of improvement driven by consistent operating discipline in all of the company's core businesses.
"Con-way Freight turned in another quarter of progress. Yield increased while tonnage in 2011 was up for the first time this year compared to the previous year," Stotlar said.
"Our plan is to build on this momentum in 2012, emphasizing margin expansion and superior customer service."
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