Werner Enterprises Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2012; Provides Capital Expenditure Guidance for the First Quarter and Full Year of Fiscal 2013
January 28, 2013 at 04:01 pm
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Werner Enterprises Inc. reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2012. For the quarter, operating revenues were $509,694,000 against $507,937,000 for the same period of last year. Operating income was $43,124,000 against $49,399,000 for the same period of last year. Income before income taxes was $43,665,000 against $49,988,000 for the same period of last year. Net income was $25,981,000 against $29,368,000 for the same period of last year. Diluted earnings per share was $0.35 against $0.40 for the same period of last year. Net capital expenditures in fourth quarter 2012 were $45 million.
For the year, operating revenues were $2,036,386,000 against $2,002,850,000 for the same period of last year. Operating income was $171,444,000 against $173,674,000 for the same period of last year. Income before income taxes was $173,166,000 against $174,906,000 for the same period of last year. Net income was $103,034,000 against $102,757,000 for the same period of last year. Diluted earnings per share was $1.40 against $1.40 for the same period of last year. Full year 2012 net capital expenditures were $225 million.
The company expects net capital expenditures for 2013 to be lower, in a range of $100 million to $150 million. Capital expenditures in first quarter 2013 will likely be low, with the majority of 2013 capital expenditures expected to occur in the last three calendar quarters of the year.
Werner Enterprises, Inc. is a transportation and logistics company, which is engaged primarily in transporting truckload shipments of general commodities in both interstate and intrastate commerce. The Company has two segments: Truckload Transportation Services (TTS) and Werner Logistics. TTS segment consists of Dedicated and One-Way Truckload. Dedicated has 5,265 trucks and provides truckload services dedicated to a specific customer, generally for a retail distribution center or manufacturing facility, utilizing either dry van or specialized trailers. One-Way Truckload has 2,735 trucks and includes various operating fleets, such as the medium-to-long-haul van (Van) fleet, the expedited (Expedited) fleet, the regional short-haul (Regional) fleet and the Temperature Controlled fleet. Werner Logistics segment is a non-asset-based transportation and logistics provider. The segment provides services throughout North America.
Werner Enterprises Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2012; Provides Capital Expenditure Guidance for the First Quarter and Full Year of Fiscal 2013