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Werner Enterprises Reports Third Quarter 2012 Revenues And Earnings

Stocks in this article: WERN

Werner Enterprises, Inc. (NASDAQ: WERN), one of the nation's largest transportation and logistics companies, reported revenues and earnings for the third quarter ended September 30, 2012.

Summarized financial results for third quarter and year-to-date 2012 compared to third quarter and year-to-date 2011 are as follows (dollars in thousands, except per share data):

3Q12 3Q11 % Change YTD12 YTD11 % Change
Total revenues $ 506,504 $ 509,587 (1 )% $ 1,526,692 $ 1,494,913 2 %
Trucking revenues, net of fuel
surcharge $ 326,222 $ 331,346 (2 )% $ 979,422 $ 981,502 0 %
Value Added Services (“VAS”)
revenues $ 82,490 $ 76,635 8 % $ 243,268 $ 211,435 15 %
Operating income $ 41,805 $ 50,066 (17 )% $ 128,320 $ 124,275 3 %
Net income $ 25,128 $ 29,578 (15 )% $ 77,053 $ 73,389 5 %
Earnings per diluted share $ 0.34 $ 0.40 (15 )% $ 1.05 $ 1.00 5 %

Werner Enterprises had a 15% decline in earnings per diluted share in third quarter 2012 compared to third quarter 2011, resulting from softer freight demand, rising fuel prices and other cost increases that exceeded rate increases. Earnings per diluted share for third quarter 2012 were in line with expectations that the Company announced on September 13, 2012.

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