YRC Worldwide's truckload and expedited subsidiary, YRC Glen Moore, narrowed its losses by 25 percent in 2009, reporting an operating loss of $8.7 million.
The carrier's revenue dropped 6.7 percent to $112.4 million, YRC Worldwide said in its annual 10-K report, filed yesterday with the Securities and Exchange Commission.
The Carlisle, Pa.-based truckload carrier, which became part of the YRC Worldwide family when Yellow Roadway purchased USF in 2005, increased total miles driven per day 11.8 percent last year, the report said.
That increase reflected greater use of YRC Glen Moore's truckload services by YRC's larger national and regional less-than-truckload subsidiaries.
The lower price of fuel last year helped YRC Glen Moore reduce operating expenses by $11 million, but it also cut into fuel surcharge revenue, which led to a 16.1 percent decrease in revenue per mile, the company said.
All told, the company represents about 1 percent of YRC Worldwide's total operating revenue, and employs about 750 people.
Contact William B. Cassidy at email@example.com.