Werner says 3Q earnings up 22%

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Werner Enterprises Inc. on Tuesday, Oct. 19, reported improved revenues and earnings for the third quarter ended Sept. 30 compared to the 2010 third quarter. Total revenues were $509.6 million, a 10 percent increase from $463.3 million; operating income was $50.1 million, a 25 percent increase from $40.1 million; and net income was $29.6 million, a 22 percent increase and the Omaha, Neb.-based company’s seventh consecutive quarter of year-over-year earnings growth in excess of 20 percent.

The company said industry capacity remains constrained by both economic and safety regulatory factors. “We continue to believe that generally favorable truckload freight trends are caused to a greater degree by supply side constraints limiting truckload capacity, as opposed to demand generated by economic activity,” the company said. “We continue to be successful in this tightening capacity environment by working jointly with our customers to secure sustainable transportation solutions across all modes.”

Werner said it continues to strengthen and redesign its truckload freight network to optimize and maximize increasing freight opportunities without adding trucks. “As a result, we are focused on expanding our operating margin percentage to raise our returns on assets, equity and invested capital, while staying true to our broad transportation services portfolio for our customers.”