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ROADWAY SERVICES REPORTS FOURTH QUARTER AND YEAR 1992 RESULTS

 AKRON, Ohio, Jan. 26 /PRNewswire/ -- Roadway Services, Inc. (NASDAQ: ROAD) reports revenue for the year ended Dec. 31, 1992 of $3,577,601,000 compared with revenue of $3,176,956,000 in 1991.
 Net income for the year, after audit, was $147,407,000, or $3.73 per share compared with net income of $127,323,000 or $3.27 per share in 1991.
 For the 16 weeks constituting the company's fourth quarter, revenue was $1,134,733,000 compared with revenue of $1,053,475,000 in the fourth quarter of 1991. Net income for the quarter was $51,485,000, or $1.30 per share compared with net income of $51,482,000 or $1.32 per share for the comparable period of 1991. There were three fewer business days in the fourth quarter of 1992 than in 1991.
 Consolidated tonnage per shipping day was up 5.1 percent for the quarter, with less-than-truckload (LTL) tons up 7.8 percent and truckload tonnage down 3.3 percent compared with the fourth quarter last year.
 Operating results for the quarter for the company's regional carrier group - Viking, Spartan and Coles Express - and for Roberts Express improved from the fourth quarter a year ago, offset by a slightly deteriorating operating margin at Roadway Express, the company's largest operating subsidiary, and spending for expansion.
 The operating margin on slightly increased revenue at Roadway Express decreased from 5.8 percent in the fourth quarter of 1991 to 4.8 percent in the fourth quarter of 1992. Net freight rates for Roadway Express for the quarter were 1.0 percent higher than rates in the fourth quarter of 1991.
 Roadway Package System experienced good revenue growth and earnings in the quarter, while the operating margin was impacted slightly by Roadway Package System, Ltd., which began operations in Canada in August.
 Revenue and earnings for the company's fourth quarter and the year ended Dec. 31, 1992, with comparable figures for 1991, are as follows:
 Sixteen Weeks Ended
 (Fourth Quarter)
 Dec. 31, 1992 Dec. 31, 1991
 Revenue $1,134,733,000 $1,053,475,000
 Operating Income $ 85,690,000 $ 87,235,000
 Other Income - Net 3,628,000 1,040,000
 Income Before Income Taxes $ 89,318,000 $ 88,275,000
 Provision for Income Taxes 37,833,000 36,793,000
 Net Income $ 51,485,000 $ 51,482,000
 Net Income Per Share $ 1.30 $ 1.32
 Average Shares Outstanding 39,697,000 39,102,000
 Year Ended
 Dec. 31, 1992 Dec. 31, 1991
 Revenue $3,577,601,000 $3,176,956,000
 Operating Income $ 236,781,000 $ 206,406,000
 Other Income - Net 13,685,000 7,200,000
 Income Before Income Taxes $ 250,466,000 $ 213,606,000
 Provision Before Income Taxes 103,059,000 86,283,000
 Net Income $ 147,407,000 $ 127,323,000
 Net Income Per Share $ 3.73 $ 3.27
 Average Shares Outstanding 39,521,000 38,906,000
 The company operates on a 13 four-week period calendar with 12 weeks in each of the first three quarters and 16 weeks in the fourth quarter.
 Roadway Services owns Roadway Express, Inc., one of the nation's largest motor freight carriers; Roadway Package System, Inc., serving shippers in the small package market; Viking Freight, Inc., Spartan Express, Inc., and Coles Express, Inc., serving the Western region, Central and Southern regions, and New England region, respectively; Roberts Express, Inc., a critical shipment carrier; and Roadway Logistics Systems, Inc., which provides contract logistics services.
 -0- 1/26/93
 /CONTACT: D.A. Wilson of Roadway Services, Inc., 216-384-2378/
 (ROAD)


CO: Roadway Services, Inc. ST: Ohio IN: TRN SU: ERN

KK -- CL014 -- 9146 01/26/93 14:19 EST
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Publication:PR Newswire
Date:Jan 26, 1993
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