Con-way posts higher 2Q profit, revenues

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Con-way Inc. on Tuesday, July 31, reported 2012 second-quarter net income of $41.8 million compared to second-quarter 2011 net income of $29.4 million. Operating income was $80.1 million, a 33.2 percent increase from $60.2 million. Revenue was $1.45 billion, a 7.2 percent increase from $1.35 billion.

“Our strategy continues to deliver improved results,” said Douglas Stotlar, president and chief executive officer of the Ann Arbor, Mich.-based company. “Our second-quarter performance reflected disciplined operations, which increased profit levels at all business units.”

Stotlar said Con-way Freight, the company’s less-than-truckload operation, benefited from effective cost management and higher yield during the quarter. “These results enabled Con-way Freight to successfully expand margins over last year,” he said. “Our LTL company’s employees are doing a great job executing our strategy and driving improvements in the business.”

Con-way Truckload, the company’s full-truckload transportation operation, maintained its momentum, Stotlar said. “We continued to increase efficiencies and asset utilization during the quarter,” he said. “Reduced empty miles and higher revenue per loaded mile contributed to an improved operating ratio. We remain focused on operational excellence and premium service as our foundation for further margin expansion.”

Menlo Worldwide Logistics, the company’s global logistics and supply chain management operation, saw improved revenues and profits from both international and U.S.-based operations during the quarter, Stotlar said. “New business revenues coupled with growth in existing warehousing and transportation management accounts supported Menlo’s improved results over last year,” he noted. “Our logistics company continues to create efficiencies for customers through its proven lean practices and superior operational execution.”