YRC Worldwide Inc. reported fourth-quarter net income of $400,000, compared with a $35.3 million loss in the prior year period, helped by an income tax benefit.
The company’s operating results, however, were worse than the prior-year period, showing a loss of $1.6 million, compared with a profit of $30 million before interest and taxes, YRC said Feb. 27. Revenue rose to $1.21 billion from $1.17 billion.
The national YRC Freight unit posted a $15.4 million loss, compared with a profit before interest and taxes of $21.1 million in the year-earlier period.
At the regional unit, results improved with a $22.7 million operating profit, well ahead of $8.4 million in the year-earlier period.
YRC Worldwide CEO James Welch said, “While YRC Freight stumbled during 2013, our regional carriers delivered a solid performance with a 5.4% increase in revenue from increases in both tonnage and revenue per hundredweight.”
