Werner Enterprises Inc, the Omaha NE-based truckload transportation company, reported record revenues and earnings for the fourth quarter and year ended Dec 31, 2004.
Operating revenues increased 20% to $455.2 million compared with $380.2 million in fourth-quarter 2003. Net income rose 20% to $25.8 million versus $21.5 million in fourth-quarter 2003. For the year, operating revenues of $1.678 billion in 2004 were 15% higher than $1.458 billion in 2003. Net income gained 18% to $87.3 million in 2004, compared with $73.7 million in 2003.
“Pricing and freight demand continued to gain momentum during fourth quarter,” said Clarence “C L” Werner, chairman and chief executive officer. “A constrained supply of trucks with qualified drivers, combined with a steadily improving economy are providing truckload carriers with the strongest pricing market in many years. Considering the significant industry challenge of an extremely difficult driver market, I expect that freight demand and pricing will continue to be favorable in 2005.”