Exhibit 99.1

 

10990 Roe Avenue

Overland Park, KS66211

Phone 913 696 6100 Fax 913 696 6116

 

News Release

   LOGO

YRC Worldwide Reports Positive Annual Operating Income for the First Time in Six Years

OVERLAND PARK, Kan., February 8, 2013 — YRC Worldwide Inc. (NASDAQ: YRCW) today reported financial results for the fourth quarter and full year 2012.

Full Year Results

Consolidated operating revenue for the year ended December 31, 2012 was $4.851 billion, 0.4% lower than 2011, but consolidated operating income increased $162.3 million to $24.1 million, which included a $9.7 million gain on asset disposals. This is the first time in six years that the company has reported positive annual consolidated operating income. Comparatively, the company reported consolidated operating revenue of $4.869 billion for the year ended December 31, 2011 and a consolidated operating loss of $138.2 million, which included an $8.2 million gain on asset disposals.

The company reported, on a non-GAAP basis, adjusted EBITDA for the year ended December 31, 2012 of $241.2 million, an $82.0 million improvement over the $159.2 million adjusted EBITDA during 2011 (as detailed in the reconciliation below).

“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,” stated James Welch, chief executive officer of YRC Worldwide. “In just 18 months after a complete restructuring of the senior leadership team, the company posted positive consolidated operating income for the first time in six years and exceeded our forecast for the year. Obviously, 2012 was a year of significant progress for the organization. We eliminated all distractions that have been keeping this company from focusing on what we do best, which is providing premium services to both the regional and long-haul segments of the LTL market. In 2013, we must continue to build on this momentum and execute against our strategic and operational objectives. Our dedicated employees are driven to provide high-quality, consistent service to our customers and they are working hard to regain our position as one of the leading North American LTL carriers,” said Welch.

“Our system-wide employee safety initiatives showed tremendous progress in 2012. Collaborating with employee safety committees at terminals to drive cultural change from drivers to dockworkers, we are working more safely than ever before,” stated Welch. “We are continuing to experience a decline in the frequency of our workers’ compensation claims while simultaneously settling more claims than are filed. The net result is the lowest number of claims on record since the company started tracking this information in 2000. With fewer claims, the associated liability has decreased, as have the letters of credit supporting those programs. It all started with a simple commitment to be the safest company we can be and our team is delivering in a big way,” Welch said.


The following information was filed by Yrc Worldwide Inc. (YRCW) on Friday, February 8, 2013 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

View differences made from one year to another to evaluate Yrc Worldwide Inc.'s financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

Compare this 10-K Annual Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by Yrc Worldwide Inc..

Continue

Never Miss A New SEC Filing Again


Real-Time SEC Filing Notifications
Screenshot taken from Gmail for a new 10-K Annual Report
Last10K.com Member Feature

Receive an e-mail as soon as a company files an Annual Report, Quarterly Report or has new 8-K corporate news.

Continue

We Highlighted This SEC Filing For You


SEC Filing Sentiment Analysis - Bullish, Bearish, Neutral
Screenshot taken from Wynn's 2018 10-K Annual Report
Last10K.com Member Feature

Read positive and negative remarks made by management in their entirety without having to find them in a 10-K/Q.

Continue

Widen Your SEC Filing Reading Experience


Increased Reading Area for SEC Filings
Screenshot taken from Adobe Inc.'s 10-Q Quarterly Report
Last10K.com Member Feature

Remove data columns and navigations in order to see much more filing content and tables in one view

Continue

Uncover Actionable Information Inside SEC Filings


SEC Filing Disclosures
Screenshot taken from Lumber Liquidators 10-K Annual Report
Last10K.com Member Feature

Read both hidden opportunities and early signs of potential problems without having to find them in a 10-K/Q

Continue

FREE Adobe PDF, Microsoft Word and Excel Downloads


Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshots of actual 10-K and 10-Q SEC Filings in PDF, Word and Excel formats
Last10K.com Member Feature

Export Annual and Quarterly Reports to Adobe PDF, Microsoft Word and Excel for offline viewing, annotations and analysis

Continue for FREE

Log in with your credentials

or    

Forgot your details?

Create Account