JOC Staff | Feb 08, 2013 9:09AM EST
YRC Worldwide reported an operating profit for 2012 of $24.1 million, including a $9.7 million gain on asset disposals, which was an increase of $162.3 million year-over-year. It is the first time in six years that the trucking company has posted an annual operating profit, after losing nearly $3 billion between 2006 and 2011.
The holding company did post a net loss of $136.5 million for 2012, but that was an improvement from a net loss of $354.4 million in 2011.
Annual operating revenue was $4.85 billion, falling 0.4 percent compared with $4.87 billion in 2011.
"Our year-over-year operating improvement is primarily due to our focus on customer mix management, pricing discipline, productivity improvements and a decrease in safety related costs," said James Welch, CEO of YRC Worldwide, in a statement.
The company reported its operating profit in the fourth quarter of 2012 was $30.0 million, improving by $68.1 million from an operating loss of $38.1 million in the fourth quarter of 2011, which included a $12.9 million loss on asset disposals. It was the third straight quarter that the company an operating profit. YRC Worldwide had a net loss of $35.3 million for the quarter, compared with an $86.1 million net loss a year ago.
Quarterly revenue was $1.17 billion, declining 3.6 percent compared with $1.21 billion in the same quarter in 2011.