Overnite Revenue Climbs 4 Percent; Net Income Increases Significantly to $7.9 Million

Apr 26, 2001, 01:00 ET from Overnite Transportation Company

    RICHMOND, Va., April 26 /PRNewswire/ -- Despite a lumbering economy,
 Overnite Transportation Company, the trucking subsidiary of the Union Pacific
 Corporation (NYSE:   UNP), today reported first quarter revenue of $280 million,
 up 4 percent from the same period last year, and a significant increase in net
 income to $7.9 million.
     "This year's results are a real achievement in a soft economy," said
 Overnite Chairman and Chief Executive Officer Leo Suggs, noting the company
 has been successful in controlling costs without sacrificing quality. "We are
 by no means where we want to be, but we are working smarter, watching capital
 and cash flow. Our on-time service level is at an all-time high of 98
 percent," he said. "Focusing on service continues to provide the best
 opportunity to maintain revenue and profits in this soft economy.
     "While we have had a good first quarter, we shall continue to keep costs
 in line as we respond to shippers' growing needs and concerns in the present
 economic environment," Suggs said.
     The company's operating ratio in the first quarter was 96.9, compared to
 99.8 for the same period last year, primarily reflecting its revenue growth
 and its continuing efforts to increase efficiencies. "Behind the stellar
 efforts of a dedicated workforce, we continue to move in the right direction,"
 said Suggs.
     Expanding its western operations in 2001, Overnite, a less-than-truckload
 carrier, opened two new California service centers in the first quarter in
 Benicia and Bakersfield. Further expansions are slated in California's San
 Fernando Valley, Albuquerque, N.M., and Rolla, Mo.
 
     Overnite Transportation Company reported revenue in excess of $1.1 billion
 in 2000. The carrier has 13,000 employees at 168 service centers serving more
 than 45,000 points in all 50 states, Canada, Mexico, the U.S. Virgin Islands,
 Puerto Rico and Guam.
 
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SOURCE Overnite Transportation Company
    RICHMOND, Va., April 26 /PRNewswire/ -- Despite a lumbering economy,
 Overnite Transportation Company, the trucking subsidiary of the Union Pacific
 Corporation (NYSE:   UNP), today reported first quarter revenue of $280 million,
 up 4 percent from the same period last year, and a significant increase in net
 income to $7.9 million.
     "This year's results are a real achievement in a soft economy," said
 Overnite Chairman and Chief Executive Officer Leo Suggs, noting the company
 has been successful in controlling costs without sacrificing quality. "We are
 by no means where we want to be, but we are working smarter, watching capital
 and cash flow. Our on-time service level is at an all-time high of 98
 percent," he said. "Focusing on service continues to provide the best
 opportunity to maintain revenue and profits in this soft economy.
     "While we have had a good first quarter, we shall continue to keep costs
 in line as we respond to shippers' growing needs and concerns in the present
 economic environment," Suggs said.
     The company's operating ratio in the first quarter was 96.9, compared to
 99.8 for the same period last year, primarily reflecting its revenue growth
 and its continuing efforts to increase efficiencies. "Behind the stellar
 efforts of a dedicated workforce, we continue to move in the right direction,"
 said Suggs.
     Expanding its western operations in 2001, Overnite, a less-than-truckload
 carrier, opened two new California service centers in the first quarter in
 Benicia and Bakersfield. Further expansions are slated in California's San
 Fernando Valley, Albuquerque, N.M., and Rolla, Mo.
 
     Overnite Transportation Company reported revenue in excess of $1.1 billion
 in 2000. The carrier has 13,000 employees at 168 service centers serving more
 than 45,000 points in all 50 states, Canada, Mexico, the U.S. Virgin Islands,
 Puerto Rico and Guam.
 
                     MAKE YOUR OPINION COUNT -  Click Here
                http://tbutton.prnewswire.com/prn/11690X14622295
 
 SOURCE  Overnite Transportation Company