ROADWAY CORP. PROJECTS 1ST-QUARTER LOSS

ROADWAY CORP. PROJECTS 1ST-QUARTER LOSS

   Roadway Corp. said Thursday it expects to post a first-quarter net loss of 8 to 12 cents a share, due to poor economic conditions and traditionally slow post year-end freight volumes.

   The Akron, Ohio-based corporation said it expects each of its business units to show an operating profit for the quarter, ending march 23.

   Roadway Express, the corporation's largest operating unit, in January saw its lowest daily tonnage levels since 1987. The business unit's performance improved in February and March from an operating income standpoint, Roadway said.

   New Penn Motor Express saw improved levels following the February closure of a competitor, but failed to offset tonnage declines in January and the first half of February. Arnold Transportation Services, the corporation's truckload operation, saw business levels similar to the year-earlier period, Roadway said.

   Despite the first-quarter results, Roadway said it expects business volume levels to return to 2001 levels and expects its operating ratio to be comparable to the year earlier.