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Roadrunner Transportation Systems Reports 2012 Fourth Quarter And Year-End Results And Announces First Quarter 2013 Guidance

Stocks in this article: RRTS

Roadrunner Transportation Systems, Inc. (NYSE: RRTS), a leading asset-light transportation and logistics service provider, today reported financial results for the three and twelve months ended December 31, 2012.

Roadrunner's summary financial results for the three and twelve months ended December 31 are highlighted below. Fourth quarter 2012 net income available to common stockholders increased 38.8% over the prior year quarter to $9.5 million. Fourth quarter 2012 diluted income per share available to common stockholders increased 31.8% over the prior year quarter to $0.29.

Three Months Ended Twelve Months Ended
(In thousands, except per share data) December 31, December 31,
2012   2011 2012   2011
Total revenues $ 295,069   $ 238,005   $ 1,073,354   $ 843,627
Net revenues (total revenues less purchased transportation costs) $ 90,558 $ 69,948 $ 319,895 $ 223,284
Depreciation and amortization 2,990 1,597 9,499 4,978
Other operating expenses 69,751 54,646 240,673 170,803
Acquisition transaction expenses 85   430   773   1,368
Operating income $ 17,732   $ 13,275   $ 68,950   $ 46,135
Net income available to common stockholders 9,527 6,865 37,530 25,871
Weighted average diluted shares outstanding 33,101 31,765 32,425 31,545
Diluted income per share available to common stockholders $ 0.29 $ 0.22 $ 1.16 $ 0.82

2012 Fourth Quarter and Year-end Results

In discussing the company's fourth quarter performance, Mark DiBlasi, President and CEO of Roadrunner, said,

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