Werner Enterprises profit down 47% on weak demand, weather, fuel costs

The Associated Press

4/18/2008

OMAHA, Neb. — Werner Enterprises Inc., a transportation and logistics company, reported its first-quarter profit dropped 47 percent as weak demand and wintery weather were compounded by high fuel prices.

For the period ended March 31, Werner posted profit of $8.4 million, or 12 cents per share, compared with $15.7 million, or 21 cents per share, in the year-ago period.

Analysts polled by Thomson Financial expected, on average, earnings of 14 cents per share.

Revenue rose 2 percent to $512.8 million from $503.9 million, beating analysts’ $505.6 million forecast.

Werner said fuel costs jumped to $123.8 million in the period, compared with $89.1 million a year ago.