For the fourth quarter YRC posted a loss of $1.71 a share, compared to a loss of $4.53 a share in the year-ago quarter. Analysts surveyed by Thomson Reuters expected a loss of $2.77 a share. Revenue rose 3% from the year-ago quarter to $1.21 billion, while analysts expected revenue of $1.18 billion.
YRC was able to post a profit of $400,000 for the quarter, compared to a loss of $35.3 million in the year-ago quarter. "For the first time in the last five years, we do not have the overhang of any near-term debt maturities," CEO James Welch said in a statement.
The trucking company recently reached a deal with the Teamsters Union that extended the company's labor contract until 2019. The extended contract helped the YRC restructure its $1.36 billion debt.
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