Werner Enterprises said today, Jan. 23, that its fourth-quarter earnings fell 35 percent. The Omaha, Neb.-based company earned $15.6 million, compared with $24 million in the year-ago quarter. Revenue rose 1 percent to $525.7 million, from $518.4 million during the same period last year.
Werner said fuel costs surged to $117.5 million in the period, compared to $90.3 million a year ago. The 2007 period included a 6 cent-per-share charge related to an anticipated tax settlement.
“Continued freight demand softness and the temporary increase in the supply of trucks caused by the industry truck pre-buy made for extremely challenging freight market conditions,” the company said.
For the full year, the company posted a profit of $75.4 million, compared with $98.6 million in 2006. Revenue fell to $2.07 billion from $2.08 billion a year ago.