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Werner Enterprises Reports Improved Second Quarter 2012 Revenues And Earnings

To provide shippers with additional sources of managed capacity and network analysis, we continue to develop our non-asset-based VAS segment. VAS includes Brokerage, Freight Management, Intermodal and Werner Global Logistics (International).

Value Added Services (amounts in 000’s) 2Q12 2Q11
Revenues $ 84,024     100.0 % $ 71,227     100.0 %
Rent and purchased transportation expense   71,154 84.7   60,385 84.8
Gross margin 12,870 15.3 10,842 15.2
Other operating expenses   8,568 10.2   7,123 10.0
Operating income $ 4,302 5.1 $ 3,719 5.2

The following table shows the change in shipment volume and average revenue (excluding logistics fee revenue) per shipment for all VAS shipments.

2Q12 2Q11 Difference % Change  
Total VAS shipments 68,376 63,671 4,705 7 %
Less: Non-committed shipments to
Truckload segment   18,808   20,247   (1,439 ) (7 )%
Net VAS shipments   49,568   43,424   6,144 14 %
Average revenue per shipment $ 1,595 $ 1,531 $ 64 4 %

In second quarter 2012, VAS revenues increased $13 million or 18%, gross margin dollars increased 19% and operating income dollars increased 16% compared to second quarter 2011.

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